Loan Product Disclosures
Student loans that are not part of the Federal Student Aid program are often referred to as alternative, supplemental, or private loans. These loans usually require a cosigner, have variable interest rates, and accrue interest from the time loan funds are delivered. Many lenders offer an option to defer repayment of principal and interest until after graduation. More information about alternative loans, their costs, and a repayment calculator are available at www.finaid.org. We recommend that students first apply for financial aid before considering an alternative loan. Please review your federal loan options including the parent PLUS Loan before pursuing an alternative loan. To assist you in your search for an alternative loan, we have provided a list of all the alternative loan sources that MCAD students have accessed in the past 3 years. Please understand that you may select any lender for your educational loans. You are not required to select a lender from this list.
