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Alternative Loans - Parents

Alternative or private loans are loans borrowed from an outside lender, such as a bank. Alternative loans are one way to assist with educational costs not covered by federal and state grant and loan programs. The student is the borrower on an alternative loan but will need a credit-worthy co-signer to secure the loan.

Please note alternative loans have varying terms and conditions. Also note all loans must be repaid; it is recommended you only borrow the amount you need.

To learn more about alternative loans and review a list of lenders, please click here.

Parent PLUS loans vs. Alternative Loans