Alternative Loans:
There are several instances when an alternative loan may be necessary:
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Programs that are not at least 16 credits in length and therefore do not meet the program length requirements for the federal loan programs.
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Students in high-cost programs may find that federal loan programs do not cover all of their costs.
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Students enrolled in less than 6 credits and therefore are not eligible for federal loan programs.
There are numerous financial institutions that offer alternative loans. However, each will offer different terms and interest rates. Make sure that you research the loan and apply with a reputable institution. Searching their websites will give you further information regarding their specific alternative loan programs.
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