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Alternative
Loans |
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| Alternative Loans are available to students who have
received the maximum award amounts under the Federal Direct
Loan Program and require additional funding. These loans
are sponsored by banks and private lending institutions.
The interest rates and repayment schedules may vary. These
loans must be certified by the Financial Aid Office before
funds can be disbursed. Please contact the Financial Aid
Office for additional information. |
These loans require repayment, with interest. Students
may apply if they:
- do not qualify for any type of conventional financial
aid;
- are not enrolled in a degree program, but are taking
classes through Continuing Education or Open University;
- are an international student (F or J series visas).
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Alternative Loan Features:
- Credit check is required.
- Repayment begins while attending school.
- Higher interest rates than other loans.
- Possible co-signor needed.
- Borrowers must be enrolled and attending Cal State
L.A.
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How to Apply:
- Obtain and complete a loan application from the
Center for Student Financial Aid, or contact the lender
directly (listed below) to request an application.
- Determine the loan amount. The maximum loan amount
is the Cost of Attendance established by the Center
for Student Financial Aid at Cal State L.A. You are
encouraged to borrow wisely. Remember that these monies
require repayment, with interest.
- Submit your application to the Center for Student
Financial Aid.
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Disbursement:
- Check is mailed to the Disbursement Office.
- Units are verified before disbursement check is
released to student.
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Alternative Loan Lender /
Federal Plus for Graduates &
Parents of Undergraduates - Federal PLUS Loan
You have the choice of borrowing from
any bank or credit union that participates in the
FFELP program. For your information, we have developed
a lender list for your review based on prior year's
most commonly used by our students. You do not have
to borrow from this list. In selecting the lender
of your choice, we strongly recommend that you evaluate
the following criteria:
• Benefits,
• Customer service
• Loan servicing
• Debt counseling
• Default rate
• Reliability
• Accuracy
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