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Alternative Loans

ALTERNATIVE LOANS

Students should always complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov to see if they may qualify for Title IV grants and loans first. Once you have pursued and determined your eligibility for federal student loans, you may want to consider a loan from a credit agency or private lender. You and your family are responsible for reviewing and applying for these loans. Generally, private loans offer less favorable terms and conditions than federal loans. With that in mind, we urge you and your family to budget carefully and only borrow what is necessary.

The Office of Financial Aid encourages extreme caution when considering additional borrowing. Students are encouraged to explore all other resources before resorting to alternative loans. We cannot recommend or endorse any lender, but we do encourage you and your family to compare lenders. Be sure to review the terms and conditions, fees, repayment options and interest rates to find the private loan that best fits your needs.

Due to the large number of lenders that participate in student loan programs, the financial aid office feels it is important to help guide borrowers in their search for educational financing. This list is a starting point for students and parents to compare the available benefits offered by various lenders. There is no obligation for students or parents to use a lender on the recommended list. Erskine College does not endorse any individual lender.

Comparing Loans Using ELM Select:

You can use the sort and filter options to limit the types of lender options you would like to compare.

Go to the ELM Select website.

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