Alternative Loans

Financial Assistance Office

Federal loans typically offer a better long-term borrowing option; however, alternative loans offer a quick yet competitive lending alternative for those who have exhausted federal loan eligibility. Alternative loans can affect your federal aid eligibility, so be sure an alternative loan is right for you.


Finding a Lender

You have the right to select any lender that offers private/alternative education loans. Interest rates and terms may vary among lenders. You may find lenders that offer attractive terms and conditions by searching the internet. The lenders on our Alternative Loan Lender List have been used by FHSU students in the past.

Applying for an Alternative Loan

  1. Select a lender from the Alternative Loan Lender List and begin the online application process. (If selecting a lender not on our established list, complete the application at that lender's website.)
  2. After completion of the application, the lender will electronically transmit, fax or mail an Alternative Loan certification request to FHSU.
  3. The Financial Assistance Office will process the certification according to eligibility rules established by the lender.
  4. The lender will transmit the funds to FHSU for disbursement on or after enrollment is finalized and all eligibility requirements are met. Excess Alternative Loan proceeds (after all university charges are paid) are refunded to the student based on their selection during the enrollment process.

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