Private Alternative Loans
Many students and families need to borrow educational loans to finance their education. The decision becomes whether to borrow a Direct Parent PLUS Loan or a private alternative loan.
Private alternative loans are managed through private lenders, issued in the student’s name, and require a cosigner. Eligibility, rates, terms, and conditions vary.
The loan term date you chose on the private alternative loan application can affect the final approved amount.
Ask your lender about eligibility, interest rates and fees, repayment, benefits, and service.
This video tutorial will help you to determine how much money you need to borrow in private alternative loans.
The following is a list of lenders with whom Penn State students have conducted business in the past three to five years. Neither Penn State nor the Office of Student Aid promotes, endorses, or recommends any of these loan products or lenders.
Plan ahead when applying for an alternative loan and be sure to complete all loan disclosures.
You are being provided with this private alternative loan information because you have previously borrowed an alternative loan. As a borrower, you are obligated to repay your loan to a specific lender. Review this information to determine who to contact regarding the repayment of your alternative loan(s).