Alternative Loan Information for Stony Brook University Students
Alternative Loans are private loans offered through lending institutions and are NOT part of federal government programs. These loans are available if you need additional financial assistance after applying for all federal and state financial aid programs, including federal loans. As with all student loans, the amount borrowed must be for educational expenses and cannot exceed (including all other sources of aid) the cost of attendance for the loan period. Money is borrowed in the student’s name. A cosigner is usually required and loan approval is based on creditworthiness. Interest rates and borrower benefits for alternative loans vary. Alternative loans are also available for International students with a cosigner, students who have past due term balances, and students enrolled for less than full time.
Why Does Stony Brook University Have an Alternative Loan Sample Lender List?
How Does Stony Brook University Select Its Sample Lenders?
Can a Borrower Select a Lender Not on the Sample Lender List?
Stony Brook University's Sample Lender List.