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Financial Aid Office

Alternative Loans

Alternative loans are non-federal loans offered by lending institutions to assist students in meeting their educational expenses.  They are also referred to as private education loans.  Interest rates and fees are generally determined by the credit-worthiness of the borrower and/or co-signer.

All other forms of federal aid should be exhausted before applying for an alternative loan.  Please visit the Department of Education Federal Aid First web site.

Students should be aware of the difference between federal and private loans.  A private loan counseling session, located at mappingyourfuture.org, will provide information to guide you in determining if a private loan is an option for you.

Minot State University does not participate in a preferred lender arrangement.  Below is a comprehensive list of alternative loan lenders that have provided loans to students of Minot State University in the last three years and are currently still providing loans.  The MSU Financial Aid Office and its staff do not endorse or accept any incentives, financial or otherwise from any lender.  Lender information is provided as a courtesy and in no way should it be interpreted as a requirement to use one of the lenders listed below.  MSU will process loans from any lender that participates in any educational loan program.

Bank of North Dakota DEAL Loan
Wells Fargo Collegiate Loan
Discover Private Education Loan
Sallie Mae Smart Loan

Truth in Lending Act