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Alternative loans are education loans that are available to students to assist them in their educational costs. We encourage families to first exhaust their federal loan options before looking to alternative loans. We also advise students to only borrow the minimum needed to help pay for school.
Alternative Loan Quick Facts |
Credit Check: Students are required to pass a credit check to receive an alternative loan. (Dependent students may need and are strongly encouraged to have a creditworthy co-signer).
Interest Rates: Interest rates are variable, not fixed. Interest rates vary based upon credit rating.
Repayment: Repayment terms vary from lender to lender. Most lenders offer flexible repayment options.
Refunds: Loan funds are applied to the student’s account, and any refund generated after the student’s balance is paid will be sent to the student by check.
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Thomas More has established relationships with the following preferred lenders who have committed to provide private student loans for our students. Providing excellent customer service is important to each of these lenders. The application process as well as the receipt of funds is an automated process that provides a fast and secure way of delivering loan information and loan funds. Below you will find information about the loan products each lender offers. Please use this information to select the lender of your choice. It is also your prerogative to use a lender who is not listed below.
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