Private alternative loans

Choosing how to finance your education is one of the most important decisions you will make - and the impact of that decision will follow you well beyond graduation. Once you have exhausted your eligibility for state and federal financial aid and loans, you may need to consider applying for a private educational loan, also called an alternative loan. These loans are not federal student loans. They are offered by private lenders and are used to supplement your financial aid.

The Lender List

Recently we asked 2,170 WMU students with alternative loans how they felt about their current private lender. We received 431 responses. Students rated their lenders based on five basic areas: overall satisfaction, customer service, value, application process and whether they would recommend this lender to a friend. Lenders could receive a score of 1 to 4, where 1 is poor and 4 is excellent. The highest overall score possible is 20. We selected these lenders based on how students rated them. This is what students said.

Don't Forget

Every alternative loan program is different. In an effort to help you make informed choices, we have created an alternative lender worksheet, The Bottom Line, that will help you select the private lender that is right for you.

WMU will certify a private, alternative loan from the lender of your choice.

When determining how much to borrow, plan to borrow as little as possible. The long-term cost is an important factor. If you have questions regarding financial aid, please call Bronco Express at 269 387-6000. For more information about a particular private alternative loan, please contact the lender.

Always apply for financial aid first.

Get your FAFSA in so you aren't left out!