Applying for a Private or Alternative Loan

Morgan State University Office of Financial Aid wishes to extend to you a very warm welcome and pledges to assist you in any way we can in your pursuit of academic endeavors.

One of the ways in financing your college experience, apart from the Federal Loans, is through Private loans. These loans are offered by private lenders and they are not federally regulated loans. Interest rates, repayment and origination fees are governed by the lenders. Private student loans are also known as Alternative loans.

Morgan State University recommends that all students apply for FAFSA-(Free Application for Federal Student Aid) even those who are planning to apply for Private Loans, in order to receive sufficient funding for college.

When you apply for a Private loan, a credit check is usually performed on the borrower to determine their eligibility for the loan. Some lenders do not require a co-signer, but other lenders offer students who apply with a qualified cosigner, a better interest rate, and their chance for approval is greatly increased.

• Private Loan Self Certification form - 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 you are unable to complete the copy provided to you by your lender. 
• MSU adheres to Maryland's College Loan Code of Conduct

We encourage you to contact a variety of established lenders about their alternative educational loan product(s). You have the right to select any lender you wish to use for an alternative loan. It is the responsibility of the student to thoroughly evaluate each lender before choosing the one that is right for you.

For your convenience, the lenders listed below (in alphabetical order) have provided alternative loans to MSU within the past three years.

Click on the Link to choose a lender:

• Citizens - 1-800-708-6684
• College Ave Student Loans - 844-422-7502
• Discover - 1-877-728-3030
• Earnest - 1-888-601-2801
• Lendkey - 1-888-549-9050
• National Education - 1-800-353-3357
• PNC Bank - 1-800-762-1001
• Sallie Mae Student Loans - 1-800-695-3317
• SoFi - 1-855-456-7634