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Alternative Loans


The Financial Aid and Scholarship Office helps you obtain funding for your higher education. Financial aid includes scholarships, grants, tuition waivers, work study and loans.

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    Alternative Loans

    Alternative loans - also called "private" loans - are loans from a lending institution; they are not part of the federal government's guaranteed student loan programs.  Based on current interest rates, if you, or your co-signer, have excellent credit, you may find these loans to be a less expensive option than the federal loans.  Use the Alternative Loan Comparison chart and other resources to choose the loan that best meets your needs.  It is always important to research your eligibility for scholarships, grants, and employment before taking out a loan.


    Students who are enrolled, pass a credit check with their lender, and have not already funded their full cost of attendance with other aid sources are eligible to apply.

    Interest Rate and Fees

    The interest rates and fees vary by lender and credit rating.

    Important Considerations

     Credit Checks and Scores

    Lenders use credit scores to make credit decisions to determine which applicants are likely to repay their loans on time. Credit scoring is calculated using many pieces of your past bill history. The way a person managed credit in the past is often a good indication of how they will manage credit in the future. Therefore, your credit score is like a snapshot of your level of credit risk at a particular time. So, give yourself the credit you deserve. Pay your bills on time and avoid applying for too many credit accounts. It is a good practice to periodically monitor your own credit report. You may obtain a copy of your credit report by contacting any or all of the three major credit reporting agencies: Equifax 800.685.1111, Experian 888.397.3742, or TransUnion 800.888.4213.

    Alternative Loan Lender Information

    The Financial Aid and Scholarship Office at Eastern Washington University does not endorse or recommend lenders for alternative loans.  To assist you in determining which lender is right for you, we have listed all lenders that have been used by EWU students within the last three years. This is not a preferred lender list nor does it represent every lender offering alternative loans.   For a more convenient way to compare lenders, please visit  On that site, you will be able to view a variety lenders and the loans they offer. You can also apply for a loan though that site.

    Students are encouraged to apply for alternative loans with a co-signer because this often means a better chance of approval and a lower interest rate.

    Once you have been approved by a lender to borrow through their program, the lender will contact the Financial Aid and Scholarship Office for certification of the loan.  The amount you receive cannot exceed the cost of attendance minus other aid.


    Loan name


    Apply Online

    Alaska Student Loan Corp

    Alaska Supplemental

    *Alaska residents only


    Commerce Bank

    Your Future Education Loan


    Discover Student Loans

    Discover Undergraduate and Graduate Loans

    *requires half-time enrollment

    800.788.3368 or 1.800.STUDENT


    Student Choice


    Sallie Mae

    Smart Option Student Loan


    SunTrust Bank

    Custom Choice


    Wells Fargo



    Contact Information

    Financial Aid and Scholarships
    102 Sutton Hall
    Cheney, WA 99004

    phone: 509.359.2314
    fax: 509.359.4330

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