Private/Alternative Loan Resources
Private student loans are non-federal government loans offered by private lending institutions as an additional source of funds for higher education. Read the steps below to learn how to search for Private/Alternative Loans.
Steps to follow to obtain an education loan
- Step 1: Determine the amount of loan needed by using our
Remember to borrow only what you need!
- Step 2: Find a credit worthy co-signer (advised, but not required by all lenders)
Many lenders will require you to obtain a credit-worthy co-signer to borrow; however, this is not a requirement for all lenders.
- Step 3: Compare lenders and borrowers benefits
Carefully choose the lender that best meets your needs! View our historic list of lenders below.
- Step 4: Understand the interest rate
Interest rates may be variable or fixed and are based on an index (LIBOR or Prime).
- Step 5: Complete your loan application 4 weeks before your tuition is due
Your credit check has an expiration date which must be valid at the time of disbursement. It is best not to apply more than 4 months before the start of the semester.
- Step 6: Choose your repayment option
Save money by making payments while in school. If you cannot make payments while in school, be sure that the lender you select offers an in-school deferment.
Historic list of lenders
Students seeking private/alternative loan options can explore a historic list of lenders . The lenders on this list are lenders that ÒùÐÔÊÓƵ students have borrowed from within the past three years.
You must complete Borrowing Essentials and then you will be able to view the list of frequently used lenders by ÒùÐÔÊÓƵ students.
**Please note: The lenders and loan options presented include lenders who made a loan at the school
within two academic years.
You are free to choose any lender, including those not presented. If you choose a
lender that is not presented, please contact the Office of Financial Aid. Application
processing will not be delayed unnecessarily if you choose a lender not presented.
See below for the institution's Student Loan Code of Conduct and availability of the
Private Loan Self-Certification form.
Title IV is federal financial aid funding. Qualified institutions participate in the administration of Title IV funding on behalf of the federal government. Students apply for federal financial aid funding (Title IV funds) by filing a FAFSA each year. File at .
Any institution that participates in any Title IV loan program must develop, publish, and enforce a student loan Code of Conduct. The Code of Conduct prohibits conflicts of interest with the responsibilities of the institution's officers, employees and agents related to Title IV loans.
ÒùÐÔÊÓƵ's Title IV Student Loan Code of Conduct is below.
The institution’s Code of Conduct includes a ban against each of the following:
• Employees shall not enter into revenue-sharing arrangements with any lender, including
Title IV or private education loan lenders;
• Employees shall not accept gifts from a lender, guaranty agency, or loan servicer;
• Employees shall not accept any fee, payment, or other financial benefit (including
the opportunity to purchase stock) as compensation for consulting or other contractual arrangement to provide education loan related services;
• Employees shall not steer a first-time borrower’s loan to a particular lender through packaging or any other method (for example, the school’s website or publications);
• Employees shall not refuse or delay certification of any loan based on a borrower’s
lender selection;
• Employees shall not request or accept from any lender offers of funds for making
private education loans (including opportunity pool loans) in exchange for providing
concessions or promises for providing a specific number or volume of private loans,
or for private loan preferred arrangements;
• Employees shall not accept call center or financial aid office staffing assistance
from any lender, except under certain limited circumstances specified in statute and
regulation; and
• Employees shall not accept compensation for service on advisory boards, commissions,
or groups established by a lender or guarantor (or a group of lenders or guarantors),
except for reimbursement of reasonable expenses incurred for such service.
*Employees encompas financial aid office or other school employees with financial
aid or
education loan-related responsibilities.
The University shall enforce the above Code of Conduct by anually informing employees
of the provisions listed.
In addition to the Student Loan Code of Conduct listed above, additional disclosures pertain to private education loans. See below for additional disclosures.
Students seeking private/alternative loan options can explore a list of frequently used lenders .
- Students looking to borrow private education loans may also qualify for loans and other financial assistance under the Title IV (Federal Financial Aid) programs. Terms of Title IV loans may be more favorable than those of private education loans. Click here to learn more about Title IV funding, including Title IV loans. To learn how to apply, visit stockton.edu/fafsa.
The lenders and loan options presented include lenders who made a loan at the school
within three academic years.
The University does not participate in any preferred lender arrangements. You are free to choose any lender, including those not presented. If you choose a lender that is not presented, please contact the Office of Financial Aid. Application processing will not be delayed unnecessarily if you choose a lender not presented.
Our officials are prohibited from accepting any financial or other benefits in exchange for displaying lenders and loan options in FASTChoice. Prohibited activities include: receiving compensation to serve on any lender board of directors or advisory boards; accepting gifts including trips, meals, and entertainment; allowing lenders to staff our institution's financial aid office; allowing lenders to place our institution's name or logo on any of their products; and owning of lenders' stock (for college officials who make financial decisions for our institution).
As part of the Truth in Lending Act (TILA), private lenders are required to obtain a completed and signed Private Loan Self-Certification form from each student in attendance at an institution of higher education who borrows an education loan. At the request of an enrolled or admitted student applicant for a private educational loan (or to the parent loan applicant of an enrolled or admitted student), an institution must provide the Self-Certification form to the applicant with the information requested in Section 2 of the form, to the extent that the institution possesses the information.
Click here to view and download the form.
The form can also be made available and completed upon request. To request the form, email finaid@stockton.edu.
