Financing a college education is a concern for many families. Most financial aid packages will include student loans; however, federally subsidized and unsubsidized loans may not cover the total cost of college expenses. Consequently, families are faced with the challenge of meeting the cost of their expenses.

Alternative loans are private loans that provide students with additional funding for unmet college expenses. Students are encouraged to file the Free Application for Federal Student Aid (FAFSA) to exhaust all eligibility for federal funds before applying for alternative loans. Alternative loans are not federally guaranteed and require a good credit rating and/or credit worthy co-signer. The annual amount cannot exceed the cost of attendance minus other financial aid.

Some alternative loan lenders require the student borrower to pay interest on the loan while enrolled in school. Once the loan is disbursed, the student will be billed monthly interest payments. We recommend that before you select an alternative loan lender, be sure you understand all the terms and conditions of the loan.

At Bowling Green State University, we will process an alternative loan from any lending institution. However, we have compiled a list of lenders that are most frequently used by Bowling Green State University students. FASTChoice is a private loan selection tool that helps students make a wise choice regarding borrowing an alternative loan. FASTChoice allows you to compare lender rates, terms, and benefits.

Reasons why Bowling Green State University selected the FASTChoice options:

• These lenders have been providing service to Bowling Green State University students for many years
• Interest rates are competitive
• Co-signers help students qualify for better interest rates 
• There are no repayment penalties
• Extended repayment terms are available
• There is a six month grace period before repayment
• The online application process is fast and easy
• Funds are sent via Electronic Funds Transfer (EFT)

Get more information on FASTChoice Lender options: FASTChoice

See the process flow (steps) alternative/private loans must follow: Process Flow (pdf)

Complete an Alternative/Private Loan Questionnaire (REQUIRED):

Alternative/Private Loan Questionnaire

Use the dates below to apply for the appropriate loan period.  The amount you request will be divided equally between the terms in the loan period.