Alternative/Private Student Loans
What is an Alternative/Private Loan?
Alternative Loans are non-need-based loans borrowed through a private lender.
For students who do not qualify for Federal Direct Subsidized or Unsubsidized Loans, or need additional funding beyond their Federal Direct loan eligibility, private loans are available. These are referred to as Alternative Loans or Private Loans and are borrowed directly from a lending institution.
Who should apply for an alternative loan?
Evergreen students who may have exhausted their Federal Direct Loan eligibility or are not eligible for Federal Direct Loans.
When should I apply for an alternative loan?
Students should apply for alternative loans as soon as they know that they need additional funding for educational costs.
How do I apply for an alternative loan?
Research, research, research.
Contact lenders online or by telephone.
You can...
- ...go directly to our Alternative Loan Online Information Site and follow the instructions to apply to the lender there of your choice, or
- if you wish to use another lender than those on our Alternative Loan Online Information Site, then research to find the lender that best meets your needs, and
- talk to the lender to make sure that this loan is right for you and
- call or go directly to the web site of your chosen lender to find application directions.
You will usually be notified within two weeks that the loan is approved, or that your lender needs additional information (such as a co-signer), or is denied.
Evergreen State College does not recommend, promote or endorse a specific lender or lenders among Private Loan options.
The Evergreen Financial Aid Department provides private lender listings for informational purposes only. We do not accept payment of any kind for listing lender information.
The Private Lenders listed on SimpleTuition.com are only intended to provide a sample of potential lenders. These lenders are listed because they have been used by Evergreen students in the past and represent only a few of the possible lender options for Alternative/Private Education Loans.
Students are encouraged to perform their own due diligence in seeking a private lender. We don't know the best deal for you, as the lenders and terms of the loans change frequently and your credit score is unknown to us.
To receive private education loan funds, the borrower must submit a self-certification form to the lender. Be sure to contact the lender to inquire about any additional requirements that may be needed before your loan funds can be disbursed.
Private Educational Loan Self-Certification Form PDF