Alternative education loans can help bridge the gap between the actual cost of your education and the limited amount the government allows you to borrow in its programs. other sources of aid. Alternative loans are offered by private lenders; eligibility for alternative student loans often depends on your credit score and/or your co-signer’s credit score.
Alternative loans may cost more than the education loans offered by the federal government, and they do not offer the same repayment and forgiveness options. You should exhaust your eligibility for federal student loans before resorting to alternative student loans.