Private Alternative Loans

A private student loan is a nonfederal loan issued by a lender such as a bank or credit union. Private student loans often have variable interest rates, require a credit check and do not provide the benefits of federal student loans. These loans are designed to help fill the gap between the financial assistance you are offered by MSU and other sources, and the amount you need to cover the total cost of education.

Federal student loans generally have more favorable terms and conditions than private loans.  We recommend that you utilize all Stafford Loan eligibility before turning to private loans.

Graduate and graduate-professional students who need additional funds may wish to consider the Grad PLUS Loan.

Please see our private lender page for a list of lenders, and a downloadable Self-Certification Form.