Private Alternative Loans
Alternative loans are private loans you borrow from lending institutions other than Michigan State University (MSU). These loans are designed to help fill the gap between the financial assistance you are offered by MSU and other sources, and the amount you need to cover the total cost of education.
Federal student loans generally have more favorable terms and conditions than private loans. We recommend that you utilize all Stafford Loan eligibility before turning to private loans.
Graduate and graduate-professional students who need additional funds may wish to consider the Grad PLUS Loan.
MSU cannot certify loans that are submitted too early. Please use this guide to determine the earliest acceptable application date:
- June 15th for a fall/spring loan
- November 1st for a spring only loan
- March 1st for a summer loan
You have the right to select any lender you wish for an alternative loan. Many lenders offer attractive terms and conditions which you can find by searching the internet. The lenders we name below were identified through our comparison of many private loan providers. The terms and conditions of these loans are very competitive and these lenders consistently provide high quality service.
You can access a side-by-side comparison of the terms and conditions offered by MSU’s suggested lenders at the on-line loan overview and selection website: www.fastproducts.org/choice/2290
