Private Loans

Federal loans are generally the best options and should be your first consideration. Laws passed by Congress set federal loan interest rates and fees and define clear terms and conditions for these type of loans.

However, private loans, also known as alternative loans, provide another borrowing option. Although the FAFSA is not required, private loans may have varying interest rates and limited repayment options. You should consider alternative loans as a “last resort” lending option.

A tool that you can use to review and compare private lenders is available at:

The Financial Aid Office at CIU does not endorse, recommend, or promote any lender for private loans. The listings shown on Credible are not preferred lender lists, nor do they represent every lender that provides private educational loans. CIU will certify private education loan requests for any lender you choose, regardless if they appear on Credible or not.

The lender you choose will provide you with current interest rates, processing fees, and co-signer requirements. The lender, based on the student and cosigner’s credit worthiness, determines interest rates for loans.