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Alternative (or private) loans are offered by private lending institutions and are not guaranteed by the federal government. These funds are available to students who may not be eligible for federal financial aid or who may need to bridge the gap between the total cost of attendance and their federal financial aid. The lender will interpret credit history and other deciding factors to determine if the student is eligible.

Most lenders require a cosigner for undergraduate students. A cosigner assumes responsibility for a loan should the borrower fail to repay. Having a cosigner on the loan often results in a lower interest rate and reduced fees. Please see our information on the Qualities of a Good Cosigner to help you choose a cosigner prior to applying for a loan.

You should exhaust your federal loan opportunities first. Federal loan (Title IV) program provisions may be more favorable than those of private loans. But if you need additional loan funds, this list describes alternative education loans offered by private lending institutions. Ranges of interest rates offered are found in the Application and Solicitation Disclosure for each lender. When you have decided on a lender, click on the lender name to proceed to the next step. If you choose to work with a lender not listed here, please contact the Student Financial Services office for more information.

Several lenders also offer a private loan for parents as an alternative to the federal Direct Parent PLUS Loan. Unlike the Parent PLUS Loan, many of these “student loans for parents” feature no origination feeds and canhave interest rates lower than that of the federal Parent PLUS Loan. Lenders offering the parent loan option include: Citizens Bank, Sallie Mae, and Wells Fargo. (See the bottom of this page for links to these parent loan lenders.)

Citizens Bank Student Loans
Lender Code: 700700
Application and Solicitation Disclosure (10 Year Term, variable rate)

Application and Solicitation Disclosure (10 Year Term, fixed rate)

  • Fixed or variable interest rates.
  • 0.25% interest rate reduction for automatic debit from bank account.
  • Available to permanent residents of the U.S. or international students with a creditworthy U.S. citizen or permanent resident as a cosigner.
  • Choice of repayment options: deferred, interest only, or immediate repayment.

Discover Student Loans 

Lender Code: 831312

Application and Solicitation Disclosures (Fixed Rate and Variable Rate Undergraduate Loan)

  • No origination or pre-payment fees. No late fees.
  • 0.25% interest rate reduction during repayment when payments are set up for automatic debit from a bank account.
  • Must be a U.S. citizen to apply.
  • Available for past due balances incurred within the last six months after the end of a loan period.
  • Choose either a fixed rate loan or a variable rate loan.

First National Bank Student Loan

Application and Solicitation Disclosure

  • No origination fees.
  • Interest capitalized once at repayment.
  • Lower payments by 0.25% when borrowers have payments auto-deducted from their personal bank account.
  • Up to $25,000 per year and up to a lifetime aggregate of $75,000.

PNC Solution Loan for Undergraduate Students

Lender Code: 809402

Application and Solicitation Disclosure (variable rate)

Application and Solicitation Disclosure (fixed rate)

  • No origination fees.
  • Interest rate reduction of 0.50% for auto debit from ANY bank account.*
  • Cosigner release available after making initial 48 payments on-time.
  • Available for past due balances.
  • Satisfactory Academic Progress not required.
  • Easy on-line application/E-signature available.
  • Life of loan servicing.

* PNC Bank reserves the right to modify the discount terms of this program at any time without notice. Repayment terms of 15 years for all Solution Loan applications made on or after June 1, 2010.

Sallie Mae Smart Option Student Loan
Lender Code: 900905
Application and Solicitation Disclosure

  • Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate.
  • You may apply for cosigner release after you graduate and make 12 consecutive on-time principal and interest payments.*(1)
  • Earn a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit.*(2)
  • Pay now or later – defer your payments until after graduation or choose an in-school repayment option that fits your needs.*(4)
  • Get a 2% Smart Reward® in your Upromise® account when you make scheduled monthly payments on time while in school (not available with the Deferred Repayment Option).(3)
  • Borrow up to 100% of your school-certified Cost of Attendance

* 1,2,3,4 Visit for important information about these benefits.

SunTrust Custom Choice Loan
Lender Code: 911304
Application and Solicitation

  • Personalize your private student loan: choice of fixed or variable interest rate; choice of repayment terms; and choice of repayment plans.
  • .25% interest rate reduction when you have your payments automatically deducted from a personal bank account and an additional 0.25% interest rate reduction when your payments are automatically deducted from a SunTrust Bank deposit account.
  • Graduation Reward: 1% principal balance reduction on every Custom Choice Loan upon graduation.*
  • Choice of repayment plans and term options to help you save money.
  • Cosigner release options available.**

*Proof of Graduation (certified copy of diploma) must be submitted within 90 days of graduation. 1% principal reduction is based on the fully disbursed loan amount.

**Cosigners can request to be released after the first 48 consecutive, on-time payments of principal and interest are made and other requirements (as disclosed in the Credit Agreement) are met.

Wells Fargo Collegiate Loan
Lender Code: 807176
Application and Solicitation Disclosure

  • Easy online application with quick credit decision.
  • No payments while in school.
  • Applying with cosigner helps insure lowest interest rate and fastest approval process.
  • Choose fixed or variable interest rate.
  • No application, origination, or early repayment fees.

For more information, visit

Student Loans for Parents

Citizens Bank Student Loan for Parents 

Application and Solicitation Disclosure (fixed rate, 10 Year Term)

Sallie Mae Parent Loan 

Application and Solicitation Disclosure 

Wells Fargo Student Loan for Parents

Application and Solicitation Disclosure (variable or fixed rate)

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