Alternative Loans may be available for students who are not eligible for federal aid or who need additional funding to meet their educational needs.
Most families rely on federal aid to help pay for college. But what do you do if it’s not enough to cover everything your student needs? How can you make up the difference between what’s covered by government funding and the costs of studying? Other loan types, such as Alternative Loans, may be an option to help meet your educational funding needs.
About Alternative Loans
Alternative loans are made by private lenders, such as banks or credit unions. With an alternative loan, you are responsible for paying the interest as it accrues. Interest rates for loans are determined by the lender and are based on the student (and cosigners) credit worthiness.
Applying for an Alternative Loan
Under federal law, Wingate University must certify your choice of lender and its guarantee agency. You can visit FASTChoice to review a list of lenders that our students have used in previous years and complete an application with the lender of your choice.