Alternative Loans Information
Lending institutions offer alternative loans to assist students in bridging the gap between college costs and traditional financial aid funding sources. These loans are private supplemental loans and are not guaranteed by the federal government. Unlike federally guaranteed student loans, lending institutions that offer alternative student loans may impose certain requirements.In most cases, a student must have a good credit history, a low debt-to-income ratio and a co-signer may be required. Due to the credit requirements, not everyone is approved for an alternative loan.
Listed below are two application tools that will provide access to multiple lenders. Both FASTChoice and the ISM Marketplace will allow you to compare lenders and rates for possible alternative loans. As a borrower, you have the option to select any lender you choose. We recommend that you select a lender included in one of the tools below in order to ensure your loans are processed as quickly and smoothly as possible. Please understand that we will process a loan with a lender that is not listed, but it may take longer, as we may not have the necessary processes in place with that lender. If you have any questions regarding the process used to select the lenders included in FASTChoice or the ISM Marketplace, please contact the Office of Student Financial Services.
Student Lending Code of Conduct
Bethel College has adopted a Code of Conduct with respect to student loans which applies to all employees in the financial aid office and anyone else at our school who has any responsibilities with respect to student loans or the selection of preferred lenders for student loans. Read or print the entire Student Lending Code of Conduct.