Alternative Loan Details

Each alternative loan lender creates product details and credit criteria for loan approvals, thus alternative loan details vary from lender to lender. As an example, consider College Loan Corporation’s alternative loan, called the CLC® Premier Loan™:

CLC Alternative Loan Details

  • Quick, easy online application process
  • Receive up to 100% of your school’s cost of attendance, minus any other financial aid received
  • Minimum alternative loan amount $1,000
  • Yearly alternative loan maximum $40,000
  • Requested alternative loan amount is certified by your school

CLC Alternative Loan Eligibility

  • Must be at least 18 years of age at an approved school and attend at least half time
  • U.S. citizen or eligible non-citizen
  • Borrower and co-borrower must pass credit evaluation

CLC Alternative Loan Repayment

  • 0.25% interest rate reduction for enrolling in automatic payments (ACH)
  • Graduated repayment option available (interest-only payments for the first two years)
  • Combined billing with federal loans may be available
  • One Call Promise® service commitment
  • May apply for credit-based, co-borrower release after making any 24 consecutive, scheduled payments on time and borrower independently meets credit and eligibility criteria for the loan

Although College Loan Corporation is not currently accepting applications for new alternative loans due to the current credit crisis, please check back with us often at www.collegeloan.com. We hope to that you will look to us as your alternative loan source for your future college funding needs.

Interest Rates and Annual Percentage Rates (APRs), and benefits are effective as of the date shown above and are subject to change at any time without notice. CLC reserves the right to modify or discontinue loan benefits, lending policies and requirements at any time without notice. Rates and fees are determined by, and commensurate with, an evaluation of the borrower's/co-borrower's creditworthiness. Loan amounts are determined by (1) evaluating the borrower's/co-borrower's creditworthiness and (2) school certification of the required loan amount: the lesser amount takes precedence. Applicants are encouraged to utilize a qualified co-borrower to receive better loan terms. Specific terms and conditions apply.