Before applying for a Private Alternative Loan, remember to first exhaust all Federal & State Grant opportunities, as well as federal student loan programs, such as the Federal Perkins and Federal Stafford Loan. We encourage all students to file the FAFSA (Free Application for Federal Student Aid) each school year at StudentAid.gov.
Many students use Private Alternative Loans to help pay their tuition costs. We have selected several loan programs for you to choose from (see below). Please note that these loans are credit-based, and we strongly recommend that all students apply with a cosigner to ensure they are receiving the best interest rate possible. Keep in mind, each loan program has different eligibility requirements, loan rates, terms and conditions. Therefore, we suggest reviewing the details of each loan program listed before making your selection.
Private Alternative Loans now require the borrower to complete a Self-Certification Form which asks the borrower to provide their Cost of Attendance and total financial assistance for the period of enrollment covered by the loan. Select your program below to find out your Cost of Attendance Budget:
- Traditional Undergraduate
- Esperanza College
- Graduate & Professional Studies (GPS)- Undergraduate- Associate's & Bachelor's
- Graduate & Professional Studies (GPS)- Graduate- Traditional & Accelerated
- Graduate & Professional Studies (GPS)- Doctoral
- Palmer Theological Seminary- Master's & Doctoral
We have created a list of lenders for you to choose from that have a history of excellent customer service in dealing with our students, parents, and Eastern staff. They have an online application process, convenient call center hours, an informative website, and a variety of borrower benefits*. (Remember, this list is only Eastern's suggested Private Alternative Loan lenders. You are not required to select a lender from this list. This list will be updated annually.) An annual report of our Preferred Lender List is made available to our yearly auditors in conjunction with their review for the Department of Education. To view Eastern's Preferred Lender list, click on the ELM Select box below.
Due to the numerous disclosures required by the Department of Education, students need to remain in contact with their lender. Applying for the loan late, or failure to complete required disclosures, may delay the disbursement of your funds. Please make sure to review the most current interest rates for each lender at ELMSelect.com.
*Our staff has conducted a rigorous review process of each lender to ensure they meet our high standards.
Not sure what happens after you are approved for a Private Alternative Loan? Check out this helpful video!