Alternative Loan Information
Please complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov BEFORE applying for an alternative education loan. Federal loans usually have lower interest rates and may have no interest accumulation (Subsidized) while you are in school. You may also be eligible for grants that do not have to repaid, or work study. Alternative loans are meant to supplement Federal financial aid and personal resources.
The DSU Office of Enrollment Services has prepared this list of alternative loans,
which is not an all-inclusive list of available alternative loan programs. Programs are subject to change without notice. Please contact the loan sponsors for further information.
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U.S. Bank
No Fee or GAP Education Loan
For undergraduate and graduate students who are enrolled at an eligible school. May be enrolled full-time, half-time, or less than half-time. International students may apply with an eligible co-signer. May use for past due balances incurred within the last
6 months. May make one combined monthly payment for FFELP and GOAL loans.
.50% interest rate reduction with autopay
from any bank and cosigner release options available. Sponsored by U.S. Bank and
Great Lakes Higher Ed. Call 1-800-242-1200, or
visit the link below.
Apply here: U.S. Bank GAP & No Fee Supplemental Loans
Collegiate Loan Program — Wells Fargo Bank
Available to degree-seeking students enrolled as an undergraduate or graduate student. Borrower or co-signer must be deemed creditworthy or credit-ready. No loan fees. Minimum loan amount is $1,000. Current interest rates are available by contacting Wells Fargo. Sponsored by Wells Fargo Bank. Call 1-800-658-3567 or visit the link below for more information.
Apply here: Wells Fargo Collegiate Loan Program
CitiAssist Loan Program — Citibank
Available to part-time undergraduate and graduate students. No minimum borrowing requirement. Interest rate starts at Prime Rate - .5%, payments are deferred while in school. No loan fees. .25% interest rate reduction for E-Z Pay. Sponsored by Citibank. Call 1-800-967-2400,or visit the link below.
Apply here: Citibank CitiAssist Loan Program
Signature Education Loan Program — Sallie Mae
Available to degree-seeking undergraduate and graduate students enrolled at least half-time at a four or five-year institution. International students may apply with a creditworthy U.S. citizen or permanent resident cosigner. Interest rates and loan fees are based on your credit history, no payments while student is enrolled at least half-time. Sponsored by Sallie Mae. Call 1-800-695-3317 or visit the link below.
Apply here: Sallie Mae Signature Education Loan Program
CLC Premier Loan for Students — College Loan Corporation
Variable interest rate as low as prime + 0%. Origination fee as low as 0%. 0.25% interest rate reduction for enrolling in automatic payments. Six-month grace period after graduating or dropping below half-time enrollment. Flexible repayment options, based on loan balance. Combined billing with federal student loans may be available. Can be used to pay previous balances incurred within the year. Click on the link
below to apply today!
Apply here: CLC Premier Loan for Students
Nelnet Academic Private Loan Program — Nelnet
Available to undergraduate, graduate or professional students enrolled at least half-time in a degree-granting program. Must be a U.S. citizen or permanent resident making satisfactory academic progress. International students may apply with an eligible co-borrower who is a U.S. citizen or permanent resident. Minimum loan amount is $1,000. No origination fee. Can borrow for a prior term's education expenses.
Apply here: Nelnet Academic Private Loan Program
CampusDoor Alternative Loan — CampusDoor
Available to credit-worthy undergraduate and graduate students. CampusDoor does not have a a debt-to-income requirement, or employment verification. a 12-month grace period is available
after graduation. Borrowers may apply online at the link below, and will typically receive a decision in less than a minute!
Apply here: CampusDoor Alternative Loan
MN Student Educational Loan Fund (SELF) Program — Minnesota Office of Higher Education
Available to Minnesota residents enrolled at least half-time in a degree-seeking program. Must also have a credit worthy co-signer and not be delinquent or in default on any student loan. Minimum annual loan amount is $500 and maximum loan limits do apply. No loan fees. Borrower pays accrued interest quarterly while in school. Sponsored by Minnesota Office of Higher Education and Firstmark Services. Call 1-888-295-0713 or visit the link below.
Apply here: MN Student Educational Loan Fund
Dakota Education Alternative Loan (DEAL) — Student Loans of North Dakota
Zero fees to the student.
Low fixed or variable interest rates.
E-sign available for borrower and cosigner.
Cosigner release after 24 on-time payments. 0.25%
interest rate deduction for automatic payments.
Alternative loan consolidation program available.
Sponsored by Bank of North Dakota. Call 1-800-472-2166, ext. 5763, or visit the link below.
Apply here: DEAL Loan