Alternative loans are private loans under the student's name in conjunction with a
creditworthy co-signer. Repayment of these loans may be deferred, but the interest continues to accrue during
deferment. While these loans may be a viable option for bridging the gap, we
recommend caution. Most alternative loans have variable interest rates and are
usually more costly than federal student and parent loans. When considering an
alternative loan, carefully research factors such as interest rates, fees, APR,
borrower benefits and loan repayment options.
Not all student loan lenders use respectable
tactics to obtain your business. While we do not recommend specific lenders, our Web site offers a list
of lenders our students have used in the past. In many cases, when you ask for information, lenders will
run a credit check to offer a pre-approval. Requesting information from several lenders can result in
numerous credit inquiries that may adversely affect your credit. Applying too early may cause the credit
approval to expire, and will also result in additional credit inquiries. For this reason, we wanted to give you
some basic information that you may find helpful in sifting through all of your
The alternative loan process is initiated by the borrower. If selecting
from the list below, simply click on the lender and complete their entire application
process. This includes the completion of the co-signer addendum, disclosure
approval and self certification. Once you have been approved for the loan of your choice,
the lender will send Salve Regina a certification request. The Office of Financial
Aid will certify the request electronically. After the application completes
the final approval process, the funds will be disbursed to the student’s
If you have any questions, please contact the Office of Financial Aid.
Click here to learn how to get a certified loan.
Click here to obtain the Private Education Loan Applicant
Please note: Fees are
usually added to the total loan amount upon repayment. You should review the
lender's individual terms, rates and fees. Lenders reserve the right to change
or discontinue their interest rates and fees.