Alternative Loans

Alternative Loans (sometimes referred to as private loans) are available through various lending institutions and are not guaranteed by the federal government. Eligibility is based on the creditworthiness of the borrower or co-signer. 

Interest rates, fees, repayment periods, rebates, etc. can vary by lender and loan program. In order to remain competitive lending institutions frequently reevaluate their alternative loan programs.

Some programs permit the student to borrow in his/her own name; others require a credit-worthy co-signer, who does not necessarily have to be the parent. Other programs are available exclusively for parent borrowers.

If you wish to borrow an alternative loan, please apply on line with the lender or submit the loan application directly to the Office of Financial Aid at least 3-4 weeks before the funds are needed to provide adequate time for processing.

Loans through the following programs are processed by our office on a regular basis.  There are also numerous other lenders who offer alternative loans.  The Pennsylvania Education Lenders Association (PELA) provides a listing of websites for their members at http://pelalenders.org. 

Sallie Mae Signature Student Loan
1-888-272-5543

Citibank CitiAssist Loan
1-800-967-2400

The PNC Solution Loan
1-800-762-1001