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Private Education Loan Disclosure

Private Education Loan Disclosure

Private Education Loan Disclosure (also known as Alternative Loan)
Some lenders offer alternative (private) loans as a means to fund your education.  These loans are generally based on your credit history and can be used in addition to any federal, state, institutional, or private funding you receive.  It is important to use all available resources and to file the Free Application for Federal Student Aid (FAFSA)  before applying for an alternative loan.  Please be aware that final approval must be received from your bank before an alternative loan will be deducted from your bill.  You may be eligible for Federal loans or grants which usually have much more favorable terms and conditions than alternative (private) loans.
 
McNeese State University encourages all prospective student loan borrowers that may qualify for federal student loans or other assistance under the Title IV, Higher Education Act programs to complete the FAFSA at http://www.fafsa.gov/ or seek guidance from the Office of Financial Aid.
 
Please review the forms that we require a student to complete prior to certifying an alternative (private) loan at http://www.mcneese.edu/finaid/forms under the Specialty Forms section.
 
To learn more about the Truth in Lending Act, Section 128(e), click here