Alternative Loan Options

For students seeking financial assistance in the Extension or Doctorate Programs, the following is a sample list of private lenders who have alternative loans at reasonable rates. You may also choose a lender other than the below lenders.

U.S. Bank No Fee Loan: 800-242-1200 (www.usbank.com/nofeeapp)

• May borrow up to the cost of education minus Financial Aid resources.
• Must be a U.S. citizen or have a U.S. citizen co-signer.
• Must be creditworthy.
• May borrow for previous debt owed to school: apply within six months.

Nelnet Academic Private Loan: 866-551-8070 (www.nelnet.net)

• May borrow up to the cost of education minus Financial Aid resources.
• Must be a U.S. citizen or have a co-signer that is a U.S. citizen or be a naturalized citizen with documentation of the INS card.
• Must be enrolled for at least half time.
• Is a credit-based loan (the lower the credit score, the higher the interest rate).

Wells Fargo Education Connection Loan:  877-699-5444 (www.wellsfargo.com/student)

• May borrow up to $25,000 per year.
• Must be a U.S. citizen or permanent resident.
• Must be enrolled in classes, no minimum number required.
• Must have good credit or have a creditworthy co-signer.

KeyBank, Key Career Loan: 800-KEY-LEND (www.Key.com/careerloan)

• May borrow up to $15,000 for tuition and up to $3,000 for incidentals or living expenses.
• Must be a U.S. citizen or permanent residence.
• Must be enrolled in classes, no minimum number required.
• Must have 2 – 3 years established credit or a co-signer.

Sallie Mae, Private Credit Loan: 888-272-4665 (www.salliemae.com)

Tips

• Study all the terms of the loan before making a choice.
• Try to keep repayment terms to 10 years.
• If at all possible, pay the interest while in seminary.
• Borrow wisely.

Contact Flo Byerly in the AGTS Financial Aid Office,  fbyerly@agts.edu or 1-800-467-2487 x 1028, with any questions.

Updated: Friday, June 18, 2010 1:40 PM