Private & Alternative Loan Programs

Private and Alternative Loans are available for students to apply for from private lenders.

Unlike Federal Stafford loans, which are guaranteed by the federal government, private loans need to be applied for/approved, and may have varying terms from lender to lender.

Finlandia University strongly recommends students (and their cosigners) to be knowledgeable of all terms of a private loan before agreeing to take it out. Finlandia University is not contractually obligated to any lending institution.

Many students borrow from private alternative loan programs in order to supplement federal student aid. Most of these loan programs offer on the basis of the applicant’s credit history and debt-to-income ratio. The criteria for determining whether a borrower is creditworthy are stringent with private loan programs. Most alternative loan lenders require students to apply with a credit-worthy cosigner.

Finlandia University urges you to understand your rights and responsibilities as a loan borrower for any student loan you may receive. Generally, these loans are only used by students if: you need additional funds after your federal grants and loans have been applied to your account or you do not qualify for federal aid.

Students should always look at Federal Student Aid options before applying for private loans.

These loans must be repaid. As a result, you should only request the amount that you need. Please be aware of interest rates (which may be variable), repayment plans, possible deferment periods and any origination fees that may be applied to the loan.

Finlandia University does not endorse any one loan as being better than another. The lenders listed below are private loan programs that students at Finlandia have borrowed from. You may also look into loans that are not on this list. The only requirement is that the lender is willing to work with Finlandia University.

We encourage you to research any loan option before agreeing to its terms and find the alternative loan that best suits you. Also be aware that these loans are NOT Federal Stafford/Direct Loans.