Alternative Loan Awards

Alternative Loan Processing

Alternative (also called private or supplemental) loans are loans made available by lenders to students who need additional funding to help with their educational costs. The Financial Aid Office at the University of Nebraska Medical Center does require the completion of a Free Application for Federal Student Aid (FAFSA) to insure students maximize their eligibility in Federal and State financial assistance (grants, work-study, Stafford Loans, etc.) before applying for an alternative loan. A FAFSA may be completed on line.

Remember, this is a loan that will need to be paid back. Additionally, alternative loans cannot be consolidated with your Stafford loans. Therefore, failure to obtain all relevant information now may lead to repayment problems down the road. As always, when borrowing money, students can only borrow what they need to cover their cost of attendance. Remember the more you borrow the higher your monthly payment will be which could affect your financial well being after graduation.

Before your alternative loan can be processed, you must select a lender. There are many lenders that have developed alternative student loan programs. Below is a list of lenders that provide alternative loans designed for health professional students.Students are advised that ALL alternative loan lenders are required to follow the recently passed Regulation Z rules and regulations for private loan processing. The lenders MUST follow a THREE (3) step loan process directly with the borrower; a self certification loan application, a disclosure of interest rates/penalties at the time of application, and a final disclosure at the time of loan disbursement/delivery. The school cannot assist with this process. Please print and retain copies of all loan documents provided by the lender.

Students will be required to provide the lender with their cost of attendance. This cost of attendance is available on the "Student Service Center" page of the UNMC student information system.

When you complete your on-line application, print a copy for your files. DO NOT mail a copy to our office. Your lender will provide us wth an electronic notification of your application.

Financial Aid Lenders: The agency to the right of the lender indicates what agency will service your loan in repayment and the location of their current servicing center.

The lenders listed below are the only lenders with whom UNMC has familiarity. We can attest to their customer service and loan procedures. You are free to search the internet for other Alternative Loan options. UNMC will not be responsible for researching their lending history, customer service, policies or procedures. We will be happy to process your loan request with any lender you may choose for your ALTERNATIVE LOAN borrowing.

UNMC HAS RECEIVED NO CONSIDERATION FROM ANY LENDERS FOR PLACEMENT ON THIS LIST. Placement on this list DOES NOT constitute an endorsement from UNMC nor should it be construed as a preferred lender list. You are free to borrow from any lender of your choice.

UNMC Financial Aid Code of Conduct