Alternative Loan Lenders List

The following established lenders are on our Lender List because their services are exemplary and are designed to benefit you. Some lenders offer special incentives that reduce your loan balance or lower your interest rates. We recommend that you select the same lender for each loan you borrow to avoid problems when it comes time to repay your loans. If you have different lenders, it is YOUR responsibility to keep each lender aware of all your loans. Please note that you have the right to choose any lender, including any lender not on this list. If the lender you wish to use is not listed, please contact the financial aid office. You are encouraged to maximize your borrowing through federal loan programs before applying for an alternative loan. You may sign your Master Promissory Note electronically at your selected lender's website below.

• ZERO fees for all borrowers
• Rates as low as Prime minus 1% for qualified applicants who make auto-debit payments
• Make no payments while in school
• Borrow up to the total cost of education, less other aid received
• Quick and easy application process - apply in minutes and be approved in seconds!
• Fund past due balances up to 3 years old

• Interest Rate: As low as Prime minus 0.25%
• Fees: 0% to 3%
• Borrowers can receive a 0.50 percentage point interest rate reduction for automatic debit.
• Minimum Loan Amount: $500
• Combined billing for Stafford and private loans.
• International students and students with no credit or an insufficient credit history are required to apply with a creditworthy U.S. co-signer.
• Cosigner release option. After 24 consecutive on-time payments of principal and interest, US citizen or permanent resident borrowers may request a cosigner release. Borrowers must meet applicable credit requirements at that time.

Back to lender list

• No fees when both student borrower and co-signer are credit approved
• 0.50% interest rate reduction when payments are made via auto-debit
• Competitive rates: as low as Prime minus 1%
• Minimum: $500
• Maximum: cost of attendance minus financial aid
• Co-signer release option
• International students can apply with eligible co-signer Sallie Mae

Back to lender list

• Cosigner release option. After 24 consecutive on-time payments of principal and interest, US citizen or permanent resident borrowers may request a cosigner release. Borrowers must meet applicable credit requirements at that time.
• Interest rates are variable.
• In-school deferment: Students are not required to make payments while they remain enrolled in school at least halftime.
• Six-month grace period.
• Standard repayment term of 15 years, with the option to extend terms (up to 30 years) for higher aggregate loan balances.
• Customer service and online account access available.

Back to lender list

• Interest Rate: As low as Prime minus 0.25%
• Fees: 0% to 3%
• Borrowers can receive a 0.50 percentage point interest rate reduction for automatic debit.
• Minimum Loan Amount: $500
• Combined billing for Stafford and private loans.
• International students and students with no credit or an insufficient credit history are required to apply with a creditworthy U.S. co-signer.
• Cosigner release option. After 24 consecutive on-time payments of principal and interest, US citizen or permanent resident borrowers may request a cosigner release. Borrowers must meet applicable credit requirements at that time.
• Interest rates are variable.
• In-school deferment: Students are not required to make payments while they remain enrolled in school at least halftime.
• Six-month grace period.
• Standard repayment term of 15 years, with the option to extend terms (up to 30 years) for higher aggregate loan balances.
• Customer service and online account access available.
• Borrowers can receive a 0.50 percentage point interest rate reduction for automatic debit.
• Minimum Loan Amount: $500
• Combined billing for Stafford and private loans.
• International students and students with no credit or an insufficient credit history are required to apply with a creditworthy U.S. co-signer.

Back to lender list

• Apply for Admission
• Financial Aid Home
• FAFSA Form
• Loan Information
• Progress Policy
• Scholarship & Aid Calculator
• Scholarships
• USM Housing
• Visit USM