Alternative or Private Educational Loans

(Please note: You should always use any federal loan eligibility available to you before borrowing a private education loan.)


Alternative or private education student loans are consumer loans made to individuals to help pay for college. They are provided by for-profit and nonprofit lending organizations and are not backed by the federal government. Lenders offer private education loans with different rates, fees, repayment terms and approval requirements. We suggest that you carefully review each private education loan program to compare the terms and conditions before deciding which loan may be appropriate for your needs.


Most programs allow borrowers to delay payments during school and offer hardship deferments during repayment. These options often increase the total amount you will pay, because interest charges will accrue during deferment periods. Some private education student loans require a cosigner (a person who promises to become legally responsible to pay your debt if you fail to do so). If you are considering a variable rate loan, understand that rate changes may not be in your favor and could result in an increased monthly payment.


Johnson State College has not reviewed the loan programs for lenders offering alternative or private education loans. Because Johnson State College does not keep a suggested lender list for Private Education Loans, we do not recommend one lender over another.




For more information, contact the JSC Office of Financial Aid at 802-635-1380 or