Private Loans
Alternative or private loans are available in cases where the federal or
state loan programs are inadequate to help you meet your educational expenses.
Generally, the interest rates on these loans are often not as competitive
as the rates on the federal or state loans. International students and
international Texas residents are common alternative loan borrowers.
An alternative loan provides funds from a private lender (bank) of your choice.
Most alternative loan lenders require loan certification from the school in order
to verify your enrollment and Cost
of Attendance amounts.
| Repayment | Varies by lender. |
| Interest Rate | Varies by lender. |
| Interest Subsidy | Generally, no. You are responsible for interest that accrues from the date of disbursement. |
| Fees | Varies by lender. |
| Credit Worthiness | Varies by lender. You or your cosigner is subject to a credit check. |
| Completion Requirements | To receive an alternative loan, you must: |
| Annual Loan Limit | Up to the Cost of Attendance, minus other financial aid and resources. |
The Hattie M. Strong Foundation
manages a private loan program for college students who are:
- Entering their final year of study in an undergraduate or graduate degree program,
- A U.S. citizen, and
- Enrolled full-time in an accredited four-year college, graduate school, or study abroad program.
Application and other loan information is available at their web site.
The Minnie Stevens
Piper Foundation administers a loan program for full-time students who are:
- U.S. citizens, permanent residents, or international Texas residents,
- Attending a college, university, or graduate school in Texas, and
- Undergraduate juniors or seniors, or graduate students.
Application and other loan information is available at their web site.

