Alternative Loan Options

If you have exhausted more attractive financing options such as the TMS Payment Plan, the Direct Stafford Loan and the Direct Parent PLUS Loan, then you might want to consider an Alternative Private Loan.

Students with a credit-worthy co-applicant may apply for a private educational loan to finance educational costs. If the borrower defaults (stops making payments or is late in making payments) on the private loan, the co-signer is fully responsible for the loan. Private Loans should be a last option loan.

Please note that with current credit market conditions, credit approval for these loans has become more restrictive and the variable interest rates have increased. Additionally, the continued funding from these loans for all undergraduate years has become less reliable than the Federal Direct PLUS Loan. Application and credit review requirements vary. Our advice is to apply early if you choose one of these loans as part of your financing plan. Please review the Alternative Loan Recommended Lender List for Keystone College available through ELMSelect.com. You may also compare and apply for your alternative loan through this site.

The Lenders we recommend for 2011-12 based upon information collected from each are as follows (you can click on each lender for their disclosure information):

Chase Select (PDF)

Citizens Bank TruFit Student Loan (PDF)

Discover Student Loan (PDF)

PNC Solutions Loan (PDF)

Private Education Loan Applicant Self Certification Form (PDF)

Sallie Mae Smart Option Loan (PDF)

StuFunding Smart Option Student Loan (PDF)