We recognize that students may need to rely on a variety of resources to assist them in paying for their educational expenses. One type of loan to consider is a private alternative loan. These loans are available to students when federal loans are not enough to cover the cost of attendance or for students that do not qualify for any federal loans.

We strongly encourage students to exhaust their Federal Direct Unsubsidized loan prior to considering alternative loans due to potentially higher rates, fees, terms and conditions that usually accompany private loans.

It is recommended that you request a copy of your credit report annually to evaluate your ability to secure private education loan funds as credit history and credit score will be important components.

Features

Important features of private alternative loans include:

• Loans require a credit check that will look at the credit score/history of the borrower and/or co-signer.

• Borrower eligibility, co-signer requirements, loan levels and repayment options vary according to loan products.

• These types of loans can assist students who are enrolled less than half-time (less than 6 credits) or international students.

Considerations

Before applying for a loan, be sure to research the loan product(s) to ensure you are getting the most competitive rates, fees and terms available. As you research available loans, be sure to review the websites or ask the lenders how your needs and the terms of the loans meet your individual situation.

You might consider:

• Is the interest rate fixed or variable?

• Can you receive a better interest rate if you have someone co-sign the loan?

• Are payments required to be made while in-school?

• Do you need Satisfactory Academic Progress?

• Can I use this loan as an international student?

Ultimately, choosing a loan and lender is completely up to you. As a tool, we are providing you a list of lenders to consider.

Preferred Lender List

It is important to note that you are not required to use any lender on this list. We will process your loan regardless of your selection. Further, Quinnipiac University does not endorse any specific lender nor does inclusion on this list constitute a recommendation. 

Lenders on this Preferred Lender List were selected through a formal Request for Information (RFI process). All RFI responses were evaluated based on the following criteria:

• Competitive interest rates and fees: Assessment of fixed and variable interest rates, with minimal origination fees and borrowing costs.

• Borrower benefits: Availability of features such as interest rate reductions and cosigner release options.

• Repayment, Deferment and Forbearance options: Flexible repayment options, provisions available during periods of financial hardship or continued enrollment.

• Loan Limits: Students’ ability to cover their cost of attendance for the time they are enrolled. 

• Approval likelihood: Credit and cosigner requirements, multi-year approval options, and income requirements were considered. 

• Customer service quality: Evaluation of borrower support, responsiveness, and effectiveness in resolving complaints. History of company in lending.

• Responsible lending practices: Clear, transparent disclosures and borrower-focused policies.

Lenders were selected solely in the best interests of student borrowers and without consideration of any financial benefit to Quinnipiac University. This list is reviewed and updated annually. Students apply for the loan through the lenders website. Most lenders after being credit-approved will send the information about your loan directly to the university. Remember, applying for a loan is a process and it could take several weeks to complete the process and have the funds sent to the school. Please plan accordingly.