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STOP!!
Before applying for an alternative loan, make sure you have
accepted a federal financial aid package and exhausted all
federal aid options first!
Contact the Office of Undergraduate Admissions and Student Aid to determine if
you have any remaining federal financial eligibility.
Alternative loans do not offer the same benefits as federal
financial aid, and are subject to higher interest rates. For
these reasons, an alternative loan should be your last resort.
If you are considering applying for an alternative loan, make
sure that you have considered the following:
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Be aware of the rates and terms that apply to the loan before
signing a Master Promissory Note.
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Ask your lender about the benefits of using a co-borrower. In
many cases, your interest rate will be lower.
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Do not borrow more
than you need!
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Know what your monthly repayment amount will be and determine if
you will realistically be able to afford it. Click here to use a loan repayment calculator.
Alternative loan
application and certification process at LSU:
Once you submit your application and Master Promissory Note
on-line with your selected lender, the lender electronically
notifies LSU of your request to borrow an alternative loan. The
Office of Undergraduate Admissions and Student Aid
verifies the following
information:
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Your enrollment status in a degree seeking
program.
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You are meeting
Satisfactory
Academic Progress.
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The loan amount you
requested is within your Cost of Attendance. You may borrow up
to your Cost of Attendance less other aid received.
The
Office of Undergraduate Admissions and Student Aid
submits an electronic
certification to your lender. Your loan will be reduced if you
applied for an amount that exceeds your budget. You should
allow approximately 5-7 working days for certification to be
completed.
To view LSU’s Lender Partner List for alternative loans, please
click here
To complete an application, click on the lender’s logo in the
chart.
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