Alternative Loans

Please read ALL of the following information carefully. There have been changes made to the private loan process.

Alternative loans are not federally regulated loans. These loans are private education loans. The fees, interest rates, and repayment terms are set by the lender.

If you are a current student who wishes to find out more information about Alternative Loan Programs, please select the link below. **By doing so, you will have access to a list of several alternative loan lenders that are frequently used by our students. Please keep in mind that you are not required to use one of the lenders displayed at the end of the counseling session. These lenders are presented for informational purposes only. The following will enable you to compare popular private loan lenders, as well as provide you with their contact information should you choose to apply.

Alternative Loan Counseling and Lender List Information

*Please note that alternative loans are only recommend by our office as a last resort, and are not federally regulated loans.

**The lenders which appear on the list presented at the end of this counseling session were chosen because they met carefully selected criteria and offer services we feel are an asset to the students of Frostburg State University. To review the information gathered during the selection process, please click here.

Most loans presented at the end of this counseling session have zero fees for all borrowers and offer competitive interest rates. A few of the lenders included in the list may opt to charge fees or charge higher interest rates for borrowers with lower credit scores. Please read all fee and interest rate information carefully before AND after approval.

*FSU adheres to the Maryland's College Loan Code of Conduct.

Please click below to view sample Application Disclosures for all lending instructions that appear on the Alternative Loan Lender Information site.

Private Loan Application Sample Disclosures

Due to new policies adopted by the Federal Reserve Board, the laws governing private loans have changed. Beginning February 14th, 2010, all students who are applying for a private loan must complete a self-certification form and return it to their lender before their loan can be approved. Federal guidelines dictate that our office must make a copy of this form available to all students who request it. The following link will provide you with a copy of the self-certification form. This form will also be provided to you by your lender, and may be provided to you in electronic format. You will only need to complete one form for each loan you apply for. It is recommended that you complete the form provided to you by your lender, especially if it is provided to you in e-sign format, instead of the copy below. Please only download and complete this form from our website if if you are unable to complete the copy provided to you by your lender.

Private Loan Self-Certification Form

The form above will require students to fill in the "Student's cost of attendance for the period of enrollment covered by the loan" and the "Estimated financial assistance for the period of enrollment covered by the loan" in Section 2. You may view this information by logging into your PAWS account and viewing your "Financial Aid Summary" by using the following instructions:

1. Log into PAWS
2. Click on "Student Service Center"
3. Under the "Finances" section of this page, click on "View Financial Aid"
4. Click on the aid year. (ex: 2010, 2011, etc.)
5. Click on "Financial Aid Summary"

Your "Estimated Financial Aid Budget" is your cost of attendance.

Your "Total Aid" is your estimated financial assistance.

The address of the school may be found on the Financial Aid Home page.