We recommend you borrow from the Federal Direct Student Loan program before considering private or alternative loans. Graduate students should consider a federal Graduate PLUS Loan before applying for a private loan. The terms and conditions of a Federal Student loan may be more favorable.
Private alternative education loans may assist students with the gap between the actual cost of education and the federal loan amount limits you are able to borrow. These loans may assist students who have reached their aggregate Stafford loan limits to complete their education.
Private or alternative loans are provided by lending institutions and their terms may vary. Eligibility will require a credit check and may require a co-signer to qualify.
Austin Peay State University does not endorse private or alternative loans. If you wish to apply for this type of loan, we encourage you to research and compare the options and terms such as interest rates, special fees and repayment options. For additional information go to www.federalreserve.gov and search for 15 U.S.C 1638(e)(1) and 12 C.F.R 226.47(a)