Alternative Loans

Please Note the following items regarding alternative/private loans:
  • A student must be maintaining Satisfactory Academic Progress to receive an alternative/private loan.
  • Alternative/Private loans do not authorize and will disburse when the funds are released to KSU, but no earlier than the published disbursement date
  • You should allow 4-6 weeks for an alternative loan to be processed and for funds to be received at KSU.  To find out the date your loan funds will be released to KSU, please contact your lender.
  • Students on F1 VISAs attending KSU for the first time will not be eligible for alternative loans. After attending KSU for a full year, and if meeting the eligibility criteria determined by the outside entity, a F1 students may be eligible to receive an alternative loan the 2nd and subsequent years. Eligibility will be determined on a case-by-case basis.

Private student loans are different from federal student loans in that they are not guaranteed by the federal government, require a credit check, and often a co-signer. Terms and conditions vary significantly by lender. Carefully consider your needs, and then select a loan product that best meets your individual situation.

When researching private loans, you should pay close attention to the borrower benefits, fees, interest rates, and repayment options. To calculate the interest, lenders use the LIBOR average, Prime rate, or the 91 Day T-Bill.

You may also read the KSU Student Loan Code of Conduct.