Alternative education loans are made available to students through various lenders. Students should check with their chosen lender for details. Most alternative loans require that students be enrolled at least half-time. The deadline to process an alternative loan is May 30, 2009.
Students should check the terms and the loan that best fits their need. Students may choose a loan from the following list or submit one of their own.
| Private Loan Name |
Type of Loan |
Other Information |
Repayment |
| Sallie Mae Signature Loan |
Private education loan for undergraduates |
Creditworthy co-signers may help students get a lower interest rate and save money; no income requirement for student borrowers.
To apply online, log onto www.salliemae.com. |
Do not have to repay loan until 6 months after you graduate, leave school, or drop to less than half time status. Interest will start to accrue on the loan as soon as funds are sent to school. |
| Teri Undergraduate Loan |
Private education loan for undergraduates |
Creditworthy borrowers must have an employment history of at least 2 yrs; proof of current income; have a satisfactory credit history of at least 21 months; have resided at current and immediately preceding addresses for a total of at least 12 months; and be a U.S. citizen or permanent resident, and have resided in the U.S. for the previous 2 yrs.
To apply online, log onto www.teri.org.
|
Make no payment while in school. Repayment of principal and interest begins approximately 180 days after you graduate or cease to be enrolled at least half time. |
| Nellie Mae EXCEL Loan for Undergraduates |
Private education loan for undergraduates |
Borrower eligibility: Undergraduate student enrolled half time in a four-year, degree-granting program. U.S. citizenship or eligible permanent residency, valid U.S. Social Security Number, no income requirement. Students without satisfactory credit need a creditworthy co-borrower.
To apply online, log onto www.nelliemae.com.
|
Flexible repayment options including no payments while in school. |
