Click here for a printable version of the alternative loan information sheet.

If you feel that your Stafford Loans are not enough to cover the cost of your tuition, fees, books, and/or living expenses, there are alternative loans available through independent loan companies. Approval for most alternative loans is based upon a number of factors including:

• credit history
• debt-to-income ratio
• having a creditworthy cosigner (many loans do not require a co-signer if your credit history is good, but many times your interest rate may be reduced if you have a co-signer)

Applying for an alternative loan is very much like applying for a mortgage or auto loan. In order to obtain the most competitive interest rate, origination fee, and/or repayment schedule, you may wish to shop around and apply with different companies. The following websites give private student loan comparison information.

http://www.finaid.org/loans/privatestudentloans.phtml

http://www.studentlendinganalytics.com/alternative_loan_options.html

http://ohio.privateloanmarketplace.com/

Please ensure that you have applied for a private educational loan, not a Stafford loan as Kettering College's Stafford loans are serviced through Direct Loans. The school is not responsible for your approval or interest rate. In addition, any changes to your schedule may impact your eligible amount for private loans and should be brought to the financial aid department's attention.

While Kettering College suggests disbursement of funding on the first day of each term, you are responsible for contacting your loan company of choice to ensure they have all the information that they need for loan disbursement. If you have any questions place contact the loan company directly.