Alternative Loans at MWCC
Alternative loans (also called private loans) are different from federal
student loans in that they are not guaranteed by the federal government
and require a credit check and often a co-signer. Alternative loans should
be used as a last resort after exploring all other forms of financial aid.
Some programs such as noncredit programs are ineligible for financial aid.
To apply, contact the lender(s) below. Terms and condition vary significantly.
Carefully consider and compare the following: interest rate, fees, eligibility
requirements, repayment and deferment options. You can obtain all of this
information via the websites or phone numbers below.
Key Bank Loans
www.key.com/educate
1-800-KEY-LEND
The Key Alternative Loan®
• Enrolled at least 6 credits
• Meet credit guidelines
• Can borrow up to the cost
of education minus
financial aid
The Key CareerLoan® including Information Technology Loans
• Can apply if enrolled in
non-credit program
• Meet credit guidelines
• Applicant and co-applicant
must be U S citizen,
permanent resident or
eligible non-citizen.
• Can borrow up to the cost
of education minus
financial aid |
|
Massachusetts Educational
Financing Authority
www.mefa.org
1-800-449-6332
• Student is not the primary
borrower, parent or spouse
is applicant.
• Fixed or variable interest
rates
• Must be enrolled in a
degree/certificate program
• Meet credit guidelines
• International students must have U S Citizen or
Permanent Resident as the
applicant
• Can borrow up to the cost of education minus financial aid |
|
The Education Resources
Institute Loan Programs
Citizens Bank
http://citizensbank.com/edu
1-800-708-6684
TERI Alternative Loan
• Undergraduate enrolled at least 6 credits in degree/certificate
program
• Making Satisfactory Academic Progress
• Meet credit guidelines
• International students may
apply with U.S. citizen/perm
resident co-applicant
• Can borrow up to the cost of education and for previous tuition balances
TERI Continuing Education
• Any student may apply
regardless of program status
• Can be enrolled less than 6 credits
• Meet credit guidelines
• International students may
apply with U.S. citizen/perm
resident co-applicant
• Can borrow up to the cost of education and for previous tuition balances |