Additional Financing Options
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Alternative Loan Options
Many programs are available through lending institutions to families in need of additional funding for education. These alternative sources may be a line of credit to cover educational costs for four years, a supplemental loan processed on a yearly basis, or a home equity loan.
In most cases, eligibility for supplemental loan programs is based on the personal credit history and financial circumstances of the student. Usually a debt-income analysis is performed to determine the applicant's ability to repay the loan. Some applicants may find they need a co-borrower to gain approval for a supplemental loan. We recommend exhausting Federal Loan options first.
For the 2009-2010 academic year The Financial Assistance & Planning Office's suggested lender list for Alternative Loans.
Keystone College's suggested lender list is determined by sending an annual "Request for Information Questionnaire" otherwise known as an "RFI" to at least 10 lenders that participate in the Federal Family Education Loan Program (FFELP) & Alternative Loan programs. Our decision is based on the best possible product available to our students and/or parents.
Although we have created a Suggested Lender List; this list is only a guideline of what options are available and this does NOT in any way inhibit you the student and/or parent from choosing another lender of your choice. Nor does it delay the loan certification process for another lender that was chosen.
Click Here for more information regarding Alternative Loan lenders, benefits and how to apply.