Private or Alternative Loans
After exhausting all other financial resources, students and families may choose to apply for a private loan (also known as an alternative loan) through the lender of their choice. These loans may have either a fixed or variable rate, are in the name of the student, and typically require a credit worthy cosigner. The interest rate varies by lender and credit score.
Students may borrow up to a maximum of the cost of attendance minus financial aid, as determined by Roberts Wesleyan College. All private/alternative loans must be certified by Roberts Wesleyan College Office of Financial Aid.
Although you may borrow from any lender of your choosing, Roberts Wesleyan College has partnered with FASTChoice through Great Lakes to make the loan process a little easier. Based on lenders that Roberts Wesleyan College students have used in the past, and the excellent service provided to our students, FASTChoice can help you find private/alternative loan options.