Alternative loans are not part of federal programs like Stafford or PLUS loans. They are loans given by private lenders and institutions. Therefore, loan terms and limits vary substantially by program and lender. They are based on creditworthiness and may require a co-signer.
RECOMMENDED LENDERS
Our website provides a comparative list of Carnegie Mellon’s recommended lenders for the 2009-2010 academic year and explains our process for selecting recommended FFELP and Private lenders.
Students and parents have the right to select the lender of their choice and are not required to use any of our recommended lenders. Borrowers will not be penalized for selecting a lender that is not included on our recommended lender list.
Click here for a list of our recommended Alternative Loan lenders.
For information on how to select a lender, click here.