18 Agassiz Circle
Buffalo, NY 14214
1880 S. Winton Rd.
Rochester, NY 14618
Alternative Loans are private, creditworthy loans that help bridge the gap between the cost of attendance and other financial aid that is awarded. A co-signer is generally required, and the interest rate is usually a variable rate, typically based on Prime or LIBOR plus a certain percentage. With most lenders, the maximum annual amount is equal to the cost of attendance minus any other financial aid awarded. Students are encouraged to apply for federal, state, and institutional aid before applying for an Alternative Loan.
While some lenders will allow you to defer repayment until 6 months after graduation, interest is charged while in school. Eligibility criteria, loan limits, loan fees, deferment options, and repayment differ among the various lenders. Check with your individual lender for all loan terms and conditions.
If an Alternative Loan is listed on your award letter in an offered status, it is only a recommended amount, and you must apply each school year and receive a credit approval to be eligible for the loan. Also, if there is a specific Alternative Loan lender listed on your award letter, it is the lender that you used in the past. However, you are free to use any lender you wish.
To apply for an Alternative Loan, go to our Alternative Loan Preferred Lender List. If you are approved through one of our preferred lenders, we will certify the amount of loan that you are eligible for and transmit this information back to the lender for a final guarantee. Please understand that you have the right and ability to select the lender of your choice, are not required to use any of the lenders on our preferred lender list, and will suffer no penalty for choosing a lender that is not on our list.
The instructors were knowledgeable and welcomed class discussions, with
respect for each student's contribution. I've learned how to be a more
effective leader. My capstone class gave insight on how to combine all
the education learned to operate a business. That's when I realized how
much I had sharpened my knowledge.