About Alternative Student Loans

Series Summary

Like all debt instruments, a loan involves the redistribution of financial assets over time between the lender and the borrower. The borrower initially receives an amount of money from the lender, which they pay back in regular installments to the lender. This service is generally provided at a cost, referred to as interest on the debt. Acting as a provider of loans is one of the principal tasks for financial institutions. In this free video series, a financial aid officer provides information on student loans, applying for student loans, and paying off student loans. Learn about alternative student loans, federal student loans and low-interest student loans. Find out how to get student car loans, how to consolidate loans and how to get a loan with no cosigner. Discover how to get financial aid, regardless of credit history, with tips in these free videos.

Video Transcript

"Hi, my name is Brooke Kramer and I am a financial aid officer at Argosy University in Salt Lake City and today I'm going to tell you about alternative student loans. Now, while alternative loans are loans that students go out and pretty much get themselves, it is not a federal loan. You go to a specific bank, banking lending institution and first find out if they will do alternative loans. Most alternative loans are based on students' credit scores. So your credit score will be checked and the amount you receive will be based on your credit score. If you have additional questions, you can actually go to the www.SallieMae.com. Sallie Mae is a top provider of student loans and they do offer some alternative student loans that you can apply for on line and see if you would even qualify fairly quickly. If you have any other questions, please feel free to check out our website at www.argosy.edu."