{"id":521,"date":"2019-09-11T20:45:06","date_gmt":"2019-09-11T20:45:06","guid":{"rendered":"https:\/\/www.monmouth.edu\/finaid\/?page_id=521"},"modified":"2022-09-12T15:00:05","modified_gmt":"2022-09-12T15:00:05","slug":"alternative-loans","status":"publish","type":"page","link":"https:\/\/www.monmouth.edu\/finaid\/graduate-aid\/loans\/alternative-loans\/","title":{"rendered":"Alternative Loans"},"content":{"rendered":"\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p>Alternative Loans are available to students through private lenders. These types of loans are an option for students who are either ineligible to borrow through the Direct Loan program or who have exhausted their eligibility for Direct Loan funding. Generally, students may apply for a loan of up to the cost of education, as determined by the Financial Aid Office, minus any other aid (including federal loans). <\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"aside-heading\" id=\"videos-on-this-topic\">Videos on This Topic<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a aria-label=\"What is a private loan? (opens in a new tab)\" href=\"https:\/\/monmouth.financialaidtv.com\/play\/1498-private-loans\/1472-what-private-loan\" target=\"_blank\" rel=\"noreferrer noopener\">What is a private loan?<\/a><\/li><\/ul>\n<\/div>\n<\/div>\n\n\n\n<p>Alternative Loans are not regulated by the federal government, and the terms and conditions of the loans may vary widely among lenders. Since there are many options, you will want to compare lenders to find the&nbsp;Alternative Loan that best&nbsp;meets your needs. As a starting point, we have compiled a&nbsp;<a href=\"https:\/\/choice.fastproducts.org\/FastChoice\/Welcome.do?configId=1365618618890\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"list of&nbsp;preferred lenders (opens in a new tab)\">list of&nbsp;preferred lenders<\/a>. The lenders appearing on the list have been chosen without prejudice and for the sole benefit of Monmouth University students. Interest rates and fees, borrower benefits, life of loan servicing, and meeting customer service standards have all been taken into consideration on our&nbsp;<a href=\"https:\/\/www.monmouth.edu\/finaid\/documents\/alt-lender-scorecard-grad-2013.pdf\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"lender evaluation scorecard (opens in a new tab)\">lender evaluation scorecard<\/a>. You are free to choose ANY lender-whether it is on the list or not \u2013 without penalty. In the event that you choose a lender not appearing on the list, please notify the Financial Aid Office so we may assist in processing your loan.<\/p>\n\n\n\n<p>Once you have selected a lender, you will need to complete an application. All lenders offer the option to apply online. We strongly recommend applying online, as typically applicants will receive a credit decision within moments of completing the application. The Financial Aid Office will then certify the loan, and once the semester begins, funds will be forwarded to the University and credited to the student\u2019s account.<\/p>\n\n\n\n<p>Our\u00a0<a href=\"https:\/\/www.monmouth.edu\/finaid\/documents\/fin-aid-code-of-conduct.pdf\/\">code of conduct<\/a>\u00a0with regard to loans may be viewed online.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alternative Loans are available to students through private lenders. These types of loans are an option for students who are either ineligible to borrow through the Direct Loan program or who have exhausted their eligibility for Direct Loan funding. Generally, students may apply for a loan of up to the cost of education, as determined [&hellip;]<\/p>\n","protected":false},"author":325,"featured_media":0,"parent":512,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_mu_eop_enabled":false,"_mu_eop_name":"","_mu_eop_name_override":false,"_mu_eop_description":"","_mu_eop_description_override":false,"_mu_eop_url":"","_mu_eop_url_override":false,"_mu_eop_program_type":"","_mu_eop_educational_credential":"","_mu_eop_time_to_complete":"","_mu_eop_number_of_credits":"","_mu_eop_occupational_category":"","_mu_eop_occupational_category_code":"","_mu_eop_program_prerequisites":"","_mu_eop_application_deadline":"","_mu_eop_application_start_date":"","_mu_eop_start_date":"","_mu_eop_end_date":"","_mu_eop_day_of_week":"","_mu_eop_time_of_day":"","_mu_eop_educational_program_mode":"","_mu_eop_financial_aid_eligible":"","_mu_eop_maximum_enrollment":"","_mu_eop_offers_price":"","_mu_eop_offers_currency":"USD","_mu_eop_offers_price_per":"","_mu_eop_offers_preset":"","_mu_eop_salary_upon_completion":"","_mu_eop_training_salary":"","_mu_eop_recognized_by_name":"","_mu_eop_recognized_by_url":"","_mu_eop_concentrations":"","_mu_eop_identifier_cip":"","_mu_eop_provider_name":"","_mu_eop_provider_name_override":false,"_mu_eop_provider_url":"","_mu_eop_provider_address":"","_mu_eop_provider_city":"","_mu_eop_provider_state":"","_mu_eop_provider_zip":"","_mu_eop_provider_country":"","footnotes":""},"class_list":["post-521","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.monmouth.edu\/finaid\/wp-json\/wp\/v2\/pages\/521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.monmouth.edu\/finaid\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.monmouth.edu\/finaid\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.monmouth.edu\/finaid\/wp-json\/wp\/v2\/users\/325"}],"replies":[{"embeddable":true,"href":"https:\/\/www.monmouth.edu\/finaid\/wp-json\/wp\/v2\/comments?post=521"}],"version-history":[{"count":7,"href":"https:\/\/www.monmouth.edu\/finaid\/wp-json\/wp\/v2\/pages\/521\/revisions"}],"predecessor-version":[{"id":14303,"href":"https:\/\/www.monmouth.edu\/finaid\/wp-json\/wp\/v2\/pages\/521\/revisions\/14303"}],"up":[{"embeddable":true,"href":"https:\/\/www.monmouth.edu\/finaid\/wp-json\/wp\/v2\/pages\/512"}],"wp:attachment":[{"href":"https:\/\/www.monmouth.edu\/finaid\/wp-json\/wp\/v2\/media?parent=521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}