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You are here: Home / Types of Aid / Loans / Private Alternative Loans / Eligibility and Interest Rates

Eligibility and Interest Rates

Private alternative loans are managed through private lenders, issued in the student’s name, and require a cosigner. Eligibility, rates, terms, and conditions vary.

Eligibility

Eligibility, rates, terms, and conditions vary per lender. The lender listing contains a brief overview of eligibility for each lender; however, we encourage you to review each lender in greater detail.

Many alternative lenders will approve a loan for international students who have a creditworthy U.S. citizen or permanent resident as a co-signer. Contact the lender of your choice to determine if you are eligible.

Loan approvals and interest rates

Loan approval and interest rates are based on the borrower’s and co-signer’s credit ratings. Alternative loans are agreements between the borrower, cosigner, and the lender.

Make informed decisions

Be sure private alternative loans are the right option for you.

Penn State Federal School Code

003329

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