Private Alternative Loans can help you pay college expenses that may not be covered by federal loan programs or other financial aid. These loans are a source of additional funds to close the gap between your financial aid resources and college costs.
Although you do not need to apply for federal, state or institutional financial aid before you apply for a private alternative loan, you should. Private alternative loans typically carry higher interest rates and fees than federal loans. In addition, most private loans do not carry the same benefits in repayment that their federal counterparts do.
Private alternative loan programs are a good option for students who plan to attend a Monterey Institute of International Studies non-degree program, (such as the Summer Intensive Language Programs-SILP) and who do not plan to enroll in a degree program at the Monterey Institute. Private alternative loans are also a favorable alternative for US students who have been awarded the maximum available in federal student aid, who will be attending a degree program at the Monterey Institute. Find out first what institutional aid you qualify for before you apply for a private alternative loan.
Review the Private Alternative Loan Comparison Chart below and select the program that will best fit your needs and contact that lender directly to apply. The Department of Education school ID number for the Monterey Institute is 001241. Our campus code is 00.
You are encouraged to borrow only the amount necessary to cover your educational expenses, which cannot be covered by other means. However, please note that you cannot borrow more than the cost of attendance. The Office of Student Financial Planning (OSFP) will notify you of your private loan eligibility on your financial aid award letter.
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THE ACCESS GROUP
5500 Brandywine Parkway
Wilmington, DE 19803
1-800-282-1550
CLICK HERE TO APPLY ONLINE
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CASL PREMIERPLUS PRIVATE LOANS
Nelnet
c/o Private Loan Department
PO Box 82523
Lincoln, NE 68501
1-800-272-7828 or 1-866-551-8070
CLICK HERE TO APPLY ON-LINE
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CHELA STUDENT LOANS
388 Market Street, 12th Floor
San Francisco, CA 94111
1-866-34-CHELA
CLICK HERE TO APPLY ON-LINE
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WELLS FARGO GRADUATE LOANS
Wells Fargo
PO Box 5185
Sioux Falls, SD 57117-5185
1-800-658-3567
CLICK HERE TO APPLY ON-LINE
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