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Alternative Loan Information

Alternative Loan Information

Should You Borrow a Private Loan?

Students should not consider borrowing private student loans until they have exhausted their maximum federal student subsidized loan eligibility. The terms and conditions of these credit-based private loan programs vary, and as such, students are encouraged to review the details of the programs before selecting a private loan program.

You should consider a private loan if any of the following situations apply:

  • The student has exhausted their federal subsidized loan options and needs to borrow additional funds to meet the cost of education.
  • The student or parent is unable to borrow federal student/parent loans.
  • The student is responsible for financing his or her education, and he or she needs to borrow additional funds.
  • The student or parents need to borrow funds for a previous semester and it is too late to borrow federal loans. (Many private loans allow students/parents to borrow funds to repay overdue university charges from previous semesters).


Preferred Alternative Lender List

The lenders below are listed alphabetically by lender name, so no inference should be made based upon the order of the listing. Borrowers are encouraged to review the terms and conditions of each program prior to selecting a lender. The criteria listed below will be reviewed periodically to determine if loan programs may be added to, or removed from, the list of programs.


Citizens Bank Student Loan

Citizens Bank Parent Loan
Lender: Citizens Bank
Interest Disclosure Information
Customer Service: 1-800-708-6684


Discover Student Loans
Lender: Discover
Interest Disclosure Information
Customer Service: 1-877-STUDENT


EDvestinU Private Student Loan

Lender: New Hampshire Higher Education Loan Corporation

Interest Disclosure Information

Customer Service: 1-855-887-5430



Smart Option Loan
Lender: Sallie Mae
Interest Disclosure Information
Customer Service: 1-888-272-5543


New regulations require all private loan borrowers to complete, sign, and return a Private Loan Applicant Self-Certification form to their lender before any funds may be disbursed to the school. This form was designed to assist students in making an informed decision about borrowing, giving students the opportunity to review information about their financial aid eligibility. This form may be part of the online application process with your lender, or it may be a paper form that you must submit to your lender. Your lender will inform you of their process. The Self-Certification form requires information about the borrower as well as the Cost of Attendance (COA) for the loan period covered by the loan. From the COA, you will deduct the amount of your estimated financial aid, and the amount remaining will be the total that you are able to borrow from your private loan lender. Click here for the Self-Certification Form.


Please be advised that The University of New Hampshire adheres to the NASFAA Code of Conduct and Statement of Ethical Principles. Our list of alternative loan lenders has been carefully researched using a variety of criteria. These factors include customer service, borrow benefits, interest rates, fees, repayment options, and lender stability- lender information on these topics is available upon request.. Each year we review information from lenders with regard to private loans in order to provide what we believe are the best options. Students are not obligated to use any lender on this list and may apply for a private loan with any lender they choose. This list is provided as a good place to start your search to compare private loan options. Do not hesitate to visit our office to discuss alternative loans in greater detail.