Approval of student loans should be considered only after all federal student loans, grants, and scholarships have been pursued. Alternative student loans (or private student loans) are loans a student takes out directly from lending institutions to assist with college related costs. These loans can be used for education related expenses such as tuition, books, transportation, and room & board. Approval is generally based on the student's credit.
- complete the FAFSA,
- receive your NTC award letter,
- be registered for classes.
- What is the lowest interest rate and fee combination you offer? Is this for the life of the loan?
- Is the interest rate a fixed rate?
- What will my payments be on this loan?
- What is the total I will have to repay including fees and interest, provided I do not prepay?
- Is there any penalty for paying off the loan early?
- When do I have to start making payments?
- How long will I be repaying the loan?
- Can I defer payments while I'm in school? How long can I defer payments while in school?
- If I do not make payments while in school, how much will I owe when I do start making payments?
- If I have difficulty making payments, do you allow me to defer or reduce my payments temporarily? If the answer is yes, under what circumstances, and for how long?
- Will I lose any discounts with just one late payment or if I ask for a change in the payment schedule?
- What percentage of your borrowers actually get the discounts you offer?
- Are your discounts guaranteed, or are they subject to change later?
- Financial Aid