UW Colleges Financial Aid
Alternative Loans
Before you look at alternative funding, please make sure that you have exhausted all possible federal and state financial aid funds available. Our office strongly recommends that students file the Free Application for Federal Student Aid before applying for alternative loans.
Alternative loans are used to help bridge the gap between the actual cost of your education and the amount available from federal and state grant and loan programs.
It is important to do some research and explore your options when choosing an alternative loan lender. For suggestions regarding questions to ask an alternative loan lender, see our alternative loans FAQ page.
Please note that pursuant to Section 155 of the Higher Education Act of 1965, as amended, (HEA) and to satisfy the requirements of Section 128 (e)(3) of the Truth in Lending Act, a lender must obtain a self-certification signed by the applicant before disbursing a private education loan. This new process started effective February 14, 2010 and requires the lender to send the applicant Truth in Lending notices and hold the first disbursement of the alternative loan disbursement until a specified time period has passed in order for the student to have a Right of Rescission. The lender will be providing the Self-Certification form to the applicant during the application process, however the Self-Certification form can also be found here.
If you have questions regarding an alternative loan program, we suggest you contact the specific lender directly. Please feel free to contact our office with general questions at 608-262-5928.