Private Alternative Loans
There are many private educational loans — also known as “alternative loans” — available to students and families through a variety of lenders. Carleton does not endorse or promote any private alternative loan program or lender, and borrowers are encouraged to review the federal loan options before considering private alternative loans since federal loans may have more favorable terms and conditions.
Private educational loans are required to disclose certain information that is intended to protect your rights and interests. You should read all disclosure information carefully before accepting any loan. In addition, prompt responses will allow loans to be processed more quickly.
Some loans will ask you to complete a Self-Certification form to report your cost of attendance and the aid you currently receive. That information can be retrieved on the Carleton Hub and reported to your lender. If your lender does not provide you with one, you can download the Self-Certification form.
Carleton has a recommend lender list which includes the Minnesota Office of Higher Education, and Sallie Mae. However, we will process loans from any lender you choose. Carleton’s involvement in the completion of private loan applications is minimal. If you need to expedite the application process, please notify our office when you’ve been approved. Any specific questions about a loan should be made directly to the lender.
Be sure to review the list of “What to Know About Loans” before applying for any loan.