Private Education Loans (Alternative Loans)
Federal loans may not be enough to cover all of your school-related expenses. After you have received all of your federal loan eligibility, you may consider applying for a private education loan (also called an alternative loan). Here are some things you should know before you borrow a private education loan:
- Most private education loans charge higher interest than Direct or Perkins loans
- Each private education loan has their own unique terms and conditions.
- Most private education loans require at least 6 credits and an eligible cosigner.
- Private education loans cannot exceed your cost of attendance including grants, loans, scholarships, and other financial resources.
There are many lenders who participate in this type of funding. The Utah State University Financial Aid office does not endorse any specific lenders. We provide the links below as places to start in your search for additional loan funding. Please take the time to carefully research the terms and conditions of each lender before deciding on which alternative loan to borrow.
The following lenders have helped USU students with private loan funding over the past three years:
- Bank Of America/Teri
- Nellie Mae Student Loans
- Campus Door Student Loans
- Alaska Student Loans
- Suntrust Bank
- UHEAA
- Key Bank
- Chase Student Loans
- Discover Student Loan
- Alaska Student Loans
- Wells Fargo Student Loans
- U.S. Bank Student Loans
- Wachovia Student Loan Lender
- Mountain America Credit Union
- Charter One Student Loans
- Citibank
- New Hampshire Higher Education Loan
- Sallie Mae Educational Loans
- Star One Credit Union
- Boeing Employee Credit Union
- College Loan Corporation Student Loans
Please note: This list has been randomly sorted.
FinAid.org offers a comprehensive overview of private education loan programs.
If you have general questions about private education loans, contact your financial aid counselor for assistance. For specific details you will need to contact the private education lender directly.
International students please note: Private education loans for international students generally require a US Citizen cosigner.