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Office of Student Aid
Penn State Federal School Code: 003329

Office of Student Aid : Loans : Private Alternative Loan

Private Alternative Loan

What is a private alternative loan?
A private alternative loan is a non-federal educational loan, through a private lending institution, typically issued in the student’s name and requiring a cosigner. It is in your best interest to borrow the maximum amount of federal loans for which you are eligible before borrowing private alternative loans. Private loans typically have variable and higher interest rates, more fees, and less flexible repayment options than federal loans.

Private Alternative Loan Considerations

You have the right to select the alternative lender of your choice. If you are looking for suggestions, the lenders listed below offer the following benefits:

IMPORTANT:

Valid Loan Term Dates

For more information on each loan program and access to online applications, please select the appropriate link. The loans are listed in alphabetical order only--there is no ranking.

Chase Select
Degree and non-degree students
Can be enrolled less than half time

CitiAssist
Degree and non-degree students
Can be enrolled less than half time

PNC Solutions Loans
Degree and non-degree students
Can be enrolled less than half time

Sallie Mae Signature Loan
Degree students only
Can be enrolled less than half time

SunTrust Academic Answer Loan
Degree and non-degree students
Enrolled at least half-time

Wells Fargo Collegiate Loan
Degree students only
Can be enrolled less than half time

If You Are Denied:

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