Private/Alternative Loans | Financial Aid

Annual maximum

Interest rate

Fees

Applying for private/alternative loan

  1. Student should complete the Free Application for Federal Student Aid (FAFSA) at fafsa.gov to exhaust all Federal loan options first
  2. Select a lender
    • You can choose any lender that processes alternative/private loans, you are not limited to those on our list
      Utilize FASTChoice to assist you in choosing a lender
      • Read through the Borrowing Essentials to gain knowledge about financing your education
      • Compare the different lenders and their terms
      • Click the "Apply Now" button next to the lender you select
  3. Apply for the loan directly with the lender at their website
  4. Lender will contact Carroll to verify the amount you are requesting and that you are attending Carroll
  5. The United States Congress recently mandated that private loan lenders require borrowers to complete a Self-Certification form when requesting any private educational loans. Do not submit your self-certification form to Carroll, return it to the lender you are applying with. Download a Self-Certification form.
  6. Funds will be disbursed directly to Carroll and credited to your Business Office account
  7. If you have a credit balance on your account, the Business Office will issue you a refund

Private loan repayment

Repayment Essentials help students to understand private loan repayment and consolidation options.

Private education loan disclosures

In accordance with The Higher Education Opportunity Act (HEOA), Title X section 226.48(f) and Truth in Lending Act (TILA), below are links to disclosure statements for each of the private lenders currently listed on Carroll University's Lender List.

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