Private or Alternative loans may provide a source of funding for educational expenses but they are best utilized after federal, state, and institutional scholarships, grants, and loans are applied for and utilized. It is important to determine your eligibility for these other forms of assistance before applying for and accepting private student loans. Federal student loans may have more favorable terms than private education loans. Lastly, private education loans may reduce the student’s eligibility for free or lower-cost financial aid available to a student. Students may begin the process of applying for federal student loans through the UCA Financial Aid website or by going directly to the federal government’s website to complete the FAFSA.
If you would like a comprehensive list of the private education loan lenders that UCA students have used within the last three years, click here to find more information about those lenders.