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Alternative Loan Program
Alternative loans are private loans through lending institutions and are not part of the federal student loan programs. Alternative loans are more expensive than the federal student loans and should only be used as a last option after all other options have been exhausted. We recommend students complete the Free Application for Federal Student Aid (FAFSA) to determine eligibility for federal and state aid before you turn to a private loan. If you decide you need an alternative loan, choose a loan that best meets your needs and borrow only what you need. Remember you will be required to pay the loan back.
You may use FASTChoice to help you chose a lender. FASTChoice is a neutral, comprehensive list of private education lenders that have made loans to students at UW-Platteville within the past 3-5 years. The list contains for each lender: Loan product summary including interest rates, grace periods, and borrower benefits; Loan term examples, which includes an example of the total cost of the loan, an explanation of annual percentage rate calculations and the minimum monthly payment. UW-Platteville highly recommends that you research each lender before you apply.
UW-Platteville does not recommend or endorse any lender. You are free to use any alternative loan lender of your choosing.
Questions regarding alternative loans are best answered in person. Please contact the Financial Aid Office at 608-342-1836 or by emailing firstname.lastname@example.org to schedule an appointment.