Selecting a private/alternative education loan can be a daunting task. The link below will provide information to help you make an informed decision. In addition to being informative, this link will provide a list of just some of the lenders who offer alternative/private student loans. We suggest you research the loans and the lender to find the best interest rate and terms of your loan. Please be aware that when viewing the alternative lender web pages below that you will be leaving the Clayton State University web site. Graduate and undergraduate students are eligible to apply for alternative loans unless otherwise specified. These loans are not backed by the federal government and therefore may have terms and conditions less favorable than federally funded student and parent loans. We encourage all students and parents to first consider and apply for federal student loans before applying for private loans. The information contained on this chart is accurate as of the date it was collected. Because these are private loans, lenders can change the terms and conditions of these loans without notifying Clayton State University. Therefore, we suggest you verify this information with any lender on this chart prior to applying for a loan with that company.
NOTE: You are not required to borrow with any of the lenders listed on this chart. Students may borrow with any lender offering a private student loan. Clayton State University does not discriminate against lenders and will certify loans from any private lender provided the student meets the lender’s eligibility requirements.
You can view Clayton State University’s Private Lender Policy as a PDF document here.
Clayton State University (CSU) participates in the William D. Ford Federal Direct Loan Program which include the Direct Subsidized and Direct Unsubsidized Student loans, the Direct Graduate PLUS Loans, and the Direct Parent PLUS Loans. To a lesser extent, private loans are also processed for students on an as needed basis. To comply with the 2008 Higher Education Opportunity Act (enacted August 14, 2008) CSU has a Student Loan Code of Conduct to serve as the formal guiding principles in insuring the integrity of the student aid process and ethical conduct of CSU employees in regard to student loan practices.
Students should compare the advantages and disadvantages between the Direct Stafford Loan Program and private loan programs before making a decision to borrow a private student loan. This chart can assist you in identifying the differences between the two programs.
Students borrowing a private student loan are required by the Department of Education to complete a Self-Certification Form and submit to your lender of choice.
Consumer Financial Proctection Bureau's Report (CFPB) Private Student Loan Borrowers Struggle to Make Payments, Get Reliable Information