Student Financial Services
Student Financial Services

Financial Aid: Managing Your Financial Aid

Federal Direct Loans
Federal Direct Loans- PLUS
Federal Direct Loans- GRAD PLUS
Federal Perkins
Federal Nursing
Institutional Loans
Alternative Loans
Student Employment / Work Study

Employment & Loan Programs (PDF)

Alternative Loans

Alternative (private) Loans may be helpful to some students for current year funding or for balances remaining from prior terms. These loans are available through a variety of commercial banks and other financial institutions, often allowing postponement of repayment while the student is enrolled. We strongly encourage you to use all available federal loan programs before using an alternative loan.

Alternative loan lenders will perform credit and eligibility checks before approving the loan. A co-signer may be required. A co-signer may also qualify the borrower for a lower interest rate. Interest rates are determined by your credit information. They may be variable or fixed and may be higher than the government-sponsored educational loans. Options for assistance during repayment may be limited. Interest generally begins to accrue shortly after each disbursement. You may select any lender offering an alternative (private) education loan. SPU utilizes FastChoice to provide alternative loan counseling and a list of lenders who have provided alternative loans to SPU students within the last three years.

Last Updated: 2/5/2015