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Financial Aid Office

Alternative Loan Preferred Lender List

Alternative Loans are private, credit worthy loans that help bridge the gap between the cost of education and the awarded financial aid. A co-signer is generally required and interest rates are typically higher than a Federal Stafford Loan. Students are encouraged to apply for federal, state, and institutional financial aid, before applying for an Alternative Loan. The maximum annual loan amount is equal to the cost of education minus any other financial aid awarded. Although repayment can usually be deferred until 6 months after graduation, interest is charged while in school. Eligibility criteria, loan limits, interest rates, loan fees, and repayment differ among the various Alternative Loan lenders.

We recommend the lenders shown below based on the quality of products and services that they provide to students and families. However, you have the right and ability to select a 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 not on our list.

For more information, please contact the lender, or visit the specific lender’s website. To apply, click on the Apply Now link. Once you have a credit decision through one of the lenders, the Financial Aid Office will certify the amount of loan that you are eligible for and transmit this information back to the lender for final guarantee.

Note: Borrower benefits are subject to change solely at the discretion of the lender.

Bank Interest Rates Loan Fees Borrower Benefits Repayment
Chase Select
Chase Bank
866-306-0868
Apply Now
  • With cosigner: 3-Month LIBOR + 3.65% to 3-Month LIBOR + 10.25%
  • Without cosigner: 3-Month LIBOR + 9.0%
 NONE
  • NO FEES
  • 0.25% Interest Rate Reduction for Auto Debit
  • Co-signer release available
  • No payment required when enrolled
  • Can be enrolled Full-time, Half-time, Less than Half-Time
  • Can be used to pay past due balances
  • 6 Month Grace Period
  • Repayment Term up to 25 years
CitiAssist Loan
Citibank
800-967-2400
Apply Now		 3-Month LIBOR + 4.75% to 3-Month LIBOR + 11.50% Origination fees: 0% to 6%
  • 0.25% Interest Rate Reduction for Auto Debit
  • Co-signer release available
  • No payment required when enrolled
  • Can be enrolled Full-time, Half-time, Less than Half-Time
  • 6 month grace period
  • Repayment Term up to 20 years
PNC Solution Loan
PNC Bank
800-421-4817
Apply Now 		1-Month LIBOR + 4.00% to 1-Month LIBOR + 10.75% Origination fees: 0% to 6%
  • 0.25% interest rate reduction for auto debit
  • Co-signer release available
  • No payment required when enrolled at least half-time
  • 6 month grace period
  • Repayment term up to 20 years(25 years for loans of $40K or more)
Sallie Mae Smart Option Student Loan
Sallie Mae
800-695-3317
Apply Now
  • One creditworthy individual: 1-Month LIBOR + 5.75% to 1-Month LIBOR + 12.50%
  • Two creditworthy individuals: 1-Month LIBOR + 5.75% to 1-Month LIBOR + 11.50%
 Disbursement fees: 0%  to 3%
  • 0.25 percentage point interest rate reduction is available for Auto Debit
  • No income requirement
  • Co-signer release available
  • Monthly interest-only payments are required during the in school period and during the six-month separation period
  • Repayment Term up to 15 years