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Frequently Asked Questions

When should I apply for alternative loans?

Answers to your Questions About Financial Aid at Michigan Te...
You should apply at least three to four weeks prior to the date your bill is due to ensure that there is enough time to complete the application process. Although you may receive instant pre-approval online from the loan company, most require you to submit additional information to them to continue processing your application.
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What are alternative loans?

NYU Office of Financial Aid
Alternative loans are private (non-federal) loans. Specific terms and eligibility requirements will vary. You (and your co-borrower, if applicable) should carefully research the options and apply for the alternative loan that best suits your needs. Keep in mind that usually your best option is to pursue federal loans. Be sure you have applied for all of the federal loans you are eligible for before you consider private loans.
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leftsidenav
Alternative loans are private (non-federal) loans. Specific terms and eligibility requirements will vary. You (and if applicable your co-borrower) should carefully research the options and apply for the alternative loan that best suits your needs. Before applying for an alternative loan, you should complete a FAFSA to determine your federal loan eligibility.
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Why would I apply for an alternative loan?

NYU Office of Financial Aid
While the Office of Financial Aid encourages you to first take advantage of the federal loan programs available to you, there may be times when a private loan is an appropriate option: If you have applied for the maximum amount of all federal loans suggested to you and still have a difference between the cost of attendance and the total financial aid you have received. If you are a dependent undergraduate and your parents will not borrow (or have been denied) a PLUS Loan.
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What is the difference between PLUS loans and Alternative loans?

Parents: Frequently Asked Questions
PLUS Loans require a completed FAFSA application by students, while Alternative Loans do not. Please refer to Financial Aid - PLUS Loan Information and Financial Aid - Alternative Student Loans for more details.
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Are private loans and alternative loans the same thing?

Counselor Resources: FAQs For Students
Yes. Private loans are also known as alternative loans. Private loans are designed to supplement the federal loan program and are available from schools, banks, and education loan organizations. Private loan terms vary considerably based on the lender and a borrower's credit history.
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How do I apply for loans?

Admissions - The New School for Social Research
You will need to complete the Free Application for Federal Student Aid (FAFSA) if you wish to apply for federal or private loans. For more information, see Financial Aid and Scholarships in the Student Services section of this website.
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University of South Florida - Graduate School
You should complete the on-line FAFSA application as soon as possible, ideally on January 2nd of each year.
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Wayne State University: Student Financial Aid
Enter the correct number in the box in Question 26 on the 2007-2008 FAFSA to indicate your interest in loans only or in loans and work-study.
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ABCSHARES
You will prepare a Request for Funding Letter briefly stating your intent and purpose for the loan, the desired loan and terms, and which letter will retain this company, its officers, and affiliates, to arrange your loan. You will provide us with a brief Executive Summary which will include time lines, a budget summary, a project completion schedule with benchmarks for progress draws, a five year cash flow study and details concerning the history and background of your management team.
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Llandudno & District Credit Union
Anyone who is a member, is 18 or over and has been saving regularly with the credit union for at least 2 months, may apply for a loan. The credit union is there to get you into a savings habit. If you can show that you can save regularly it indicates that you can repay a loan regularly
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Wayne State University: Student Financial Aid
Academic Year: To request consideration for a Federal Perkins Loan and/or a Federal Stafford Loan, answer "Yes" to Question 27 on the 2006-2007 FAFSA, which asks, "In addition to grants, are you interested in student loans (which you must pay back)?" To change your answer to Question 27 after your FAFSA has been submitted to the federal processor, complete the Loan Revision Form.
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Indiana Tech :: CurrentStudents :: FinancialAid :: FAQ
Indiana Tech processes all of its loans electronically. Students are able to complete and sign their loan application online by logging on to https://opennet.salliemae.com/apploansummary/?school_id=00180500. The Open Net website allows both students and parents to apply for loans under the Subsidized Loan Program, Unsubsidized Stafford Loan, Parent Loan for Undergraduate Students, and also Private loans.
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How do alternative loans work?

Financial Aid Office - Frequently Asked Questions
Alternative loan is a commercial loan provided by a bank or a credit union. To learn more about being eligible and applying for alternative loans, see About Loans.
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How much should I/can I borrow if I apply for an alternative loan?

Northwest University - Financial Aid
Generally, students are able to borrow up to their cost of attendance at Northwest University. That is, cost of attendance - financial aid = maximum you may borrow from an alternative loan. For more information, please contact the Financial Aid Services Office.
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Sovereign Bank | FAQs - Education Loans
For the Sovereign Bank Alternative Loan or College Bound Loan, online applications are available through the Sovereign Website at sovereignbank.com/student. You may also apply for the Sovereign Bank Alternative Loan by phone at 800-881-9346. When you apply for an alternative loan, you are applying for the academic year.
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Who can apply for WATF's low interest loans?

Washington Access Fund [ Faq ]
Washington residents of all ages with disabilities of all types -- including seniors with age-related hearing, vision, mobility and cognitive limitations. We also consider applications from family members, employers and other representatives ? as long as the item is purchased for ? and owned by -- a person with a disability. For Telework loans, applicants also must show that they plan to use the equipment to work from home or other approved Telework location.
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When can I apply for a PayCheck Loans No Faxing?

Cash Check Advance, Paperless Payday Loan
Unlike the payday loan stores that are only open during normal business hours, you can apply online for a PayCheck Loans No Faxing 24/7.
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How do I apply for federal student loans?

FAQ's
Please complete the FAFSA and the Special Enrollment Agreement form. Once your file is complete we can process your financial aid package.
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How do I apply for private student loans?

FAQ's
Please contact the private lender of your choice directly. Once you have completed their application materials you will need to complete the Special Enrollment Agreement form. Once your file is complete we can process your financial aid package.
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What if one of my student loans is in default? Can I still apply?

HERO : Higher Education Resource Organization : FAQ
We cannot consolidate loans that are in default. Once you are in default, it is very important that you contact your loan servicer and find out how to get out of default. Once you've worked out a repayment schedule with your loan servicer and are no longer in default, you can apply for a loan consolidation.
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When and how do I apply for student loans?

Johnson School at Cornell University - Financial Aid - Finan...
U.S. citizens and permanent residents need to complete a free application for Federal Student Aid (FAFSA) form as soon after January 1 as possible. You can do this over the Internet at http://www.fafsa.ed.gov/. We use this document to determine your eligibility for federal and institutional loans. NOTE: If you are applying to our Accelerated MBA program, you will need to apply separately for summer aid.
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Can a homeowner apply for unsecured loans?

Personal Loans, Secured Personal loan, Unsecured Personal Lo...
Ans. Yes, a homeowner can apply for an unsecured loan. By taking unsecured loans, homeowners can avoid risking their home.
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FAQs to clear your doubts on Loan related Queries.
Ans. Yes, a homeowner can apply for an unsecured loan, if he is not willing to put up his home as security.
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