Private Alternative Loans
Private educational loans are considered when a student has exhausted his or her federal loan eligibility, is provisionally admitted or enrolled less than half-time. As a potential alternative loan borrower, your primary objective should be to obtain the best loan, lowest interest rate and best repayment terms available to you. It is imperative that you research and compare your options. Students who seek alternative loans are often required to have a co-signer/co-borrower because students may not have earned income while in school or a well-established credit history. Interest will begin to capitalize on these loans when the funds disburse as payment to the student account. Applications for these private loans are available online at www.utoledo.edu/financialaid/loans/loanoptions.html via the FASTChoice Alternative Loans link in the middle of the page. We strongly encourage you to budget wisely, borrow responsibly and consider all financing options available to you.