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Private Credit Loans

Private credit or Alternative loans are private loans available through lending institutions to help bridge the gap between your educational costs and available federal and state grants and federal student loans. These loans are credit based loans that require you to have established credit or a co-signer. Private credit loan programs differ from lender to lender so it is important that you know the terms and conditions of the loan and your rights and responsibilities as a borrower. Always apply for Federal Stafford loans first. Stafford loan interest rates and repayment options are better.

Below is a list of some private credit loans available to you. Most lenders offer some type of private credit or alternative loans.

Always remember that a loan is a debt that you must repay. Learn the ABC’s of student loans – Always Borrow Conservatively!

Loan Program	Interest Rate	Fees Assessed	Minimum Amount Borrowed	SAP Required	Grace Period	Minimum Enrollment	Cover Previous Balance
Campus Door 1-800-786-0002	prime - 0.5% to prime + 7.9%	0% to 9%	$500	yes	12 months upon graduation or 6 months if student drops below half time	6 hours	yes, up to 8 months
Chase Select 1-866-306-0868	prime - 0.5% to prime + 6%	0%	$500	no	6 months	less than 6 hours	yes
CitiAssist 1-800-967-2400	prime - 0.5% to prime + 6%	0%	no minimum	no	6 months	6 hours	yes, up to 12 months
Key Alternative Loan 1-800-KEY-LEND	libor + 2.49% to libor + 6.99%	0%	$500	no	6 months	6 hours	no
Signature Loan 1-800-695-3317	libor + 2.5% to libor + 10.5%	0%	$500	yes	6 months	6 hours	no
US Bank 1-800-233-7824	prime + 0% to prime + 3.95%	0%	$1000	no	6 months	6 hours	yes, up to 6 months
Wells Fargo Collegiate Loan 1-800-658-3567	prime + 0% to prime + 5.99%	0%	no minimum	no	6 months	Less than 6 hours	no

For additional information or questions regarding alternative student loans, please contact the Financial Aid Office at 740.351.4243.

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