From www.taylor.edu - Taylor University, integrating faith and learning

Alternatives in Funding

Before applying for an Alternative loan, please make sure you have exhausted all Direct Stafford Loan opportunities, as the Stafford Loan offers a FIXED interest rate, whereas the Alternative Loan is a VARIABLE interest rate loan, with NO CAP!

* The Direct Loan Program (including the Stafford and PLUS loans) applications will be available mid - June 2009.

 

Alternative Loans

The lenders listed on our website have offered quality service to our students in the past and we expect the same quality service in the future.  The terms of the loans offered are competitive in the alternative loan industry.  It is our desire to provide loans to assist you as you attend Taylor University but we also seek lenders who lend responsibly.   This involves a credit check for each borrower which determines whether or not you are granted the loan and determines your interest rate for the loan.  Each student should review the terms and conditions of the various private alternative loan options to determine which loan fits your individual needs.  To apply through a lender on our list you will apply below by completing the online process and the loan funds will be disbursed electronically allowing a smooth and efficient process for the borrower and the school.  We believe this is an efficient way in which we are able to serve you.  

This is not an exhaustive list of lenders offering alternative loans and it is your option to seek a loan from any lender you so choose.   To apply through a lender of your choice you will contact that lender and apply through their process.  You will need to ensure the loan request reaches the Taylor University Financial Aid Office as we are required to complete a school certification with each lender.  Loan funds from a lender outside the list provided will most likely be disbursed via a paper check and you will be required to sign the loan check in the Bursar's Office.

 

2009-2010 Alternative Loans require a co-signer and three references.  Variable interest rate, with no cap.

  • Amount: Cost minus other aid.
  • Deadline: Varies

 

If you are interested in 1 of the 3 lenders on our lender list, please review the terms and conditions of each before applying.  At this time, we are unable to provide a comparison of the SallieMae Smart Option Loan side by side with the CitiBank and Chase Select Loans.

SallieMae offers the SallieMae Smart Option Student Loan (replaces SallieMae Signature Loan) as an alternative loan.  This is an innovative option for the alternative loan industry and at this time we are not aware of another lender offering a loan with similar terms. To review and/or apply for the SallieMae Smart Option Loan click HERE.

To review the CitiBank and Chase Select Loans, you will need to enter the requested information in the "loan box" below. PLEASE NOTE - if your loan is for either the Fall term or for the whole year, enter AUG, 2009.  If your loan is only for the Spring term, enter JAN, 2010.  To apply for either the CitiBank or Chase Select Loans, click the corresponding Apply button on the lender comparison page.