Alternative/Private School-Based Certified Education Loans!

An Alternative School-Based Certified Education Loan is also know as a Private loan and requires “school certification”. Alternative loans are offered to parents and students. Alternative loans provide supplemental funding when family resources and other financial aid do not cover school’s official cost of education and other education expenses. Some families turn to private loans when the federal loans offered in the school financial aid package don’t provide enough money or when different repayment options are needed.

Alternative education loans help bridge the gap between the cost of education and the amount the government formula provides in federal student aid.  Certified alternative loans are often an integral component of a college or university’s student financial aid offering with funds being disbursed directly to the school (except CEL). 

With certified alternative loans there are no federal forms to complete. Unlike federal loans, private education loans are strictly credit based with established credit criteria that consider the borrower’s credit history, among other things, when reviewing a loan application.  Parents and students are encouraged to review their credit history prior to application to assure that their credit reports are accurate and up-to-date.  Twenty-five percent of credit reports, which list credit and borrowing activities, had errors serious enough to cause consumers to be turned down for a loan or a job, according to a 2004 survey by the U.S. Public Interest Research Group.  For access to your free credit report, go to www.annualcreditreport.com, call 877-322-8228 or write to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Whether you or your student have just concluded high school or are going back to college, need help financing a graduate education or health professions education, are attending school on a part-time basis, completing teacher credentialing or other continuing education opportunities, or looking to manage the cost of a K-12 education, alternative school certified education loans are designed to give you the flexibility you need to manage education expenses.

Alternative school certified education loans are available for Undergraduate, Graduate, and Continuing Education students as well as for Elementary & Secondary education.

START Education Loan Program