Alternative Ways to Pay for College

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Alternative ways to pay for college can include getting private loans from banks, credit unions or private lending institutions. Find other ways to pay for college when financial aid does not cover the costs with helpful information from a financial aid officer of a university in this free video on education.

Part of the Video Series: Federal Financial Aid
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Video Transcript

Hi, my name is Brooke Kramer. I am the financial aid officer with Argosy University in Salt Lake City and today we're going to talk about alternative ways to pay for college. Normally, by what students mean by alternatives is through alternative loans. And what alternative loans are, are loans provided by private lenders such as Wells Fargo, a credit union, any private lending institution other than the government who will qualify you for a loan. And, in order to qualify for these loans, you first need to submit an application to the lending agency, they will then do a credit check on your past history as well as take a look at your current financial status. It is fairly difficult to qualify for alternative loans because of the credit checks and also your financial history. They also are based on different payback terms than federal aid. If you have additional questions regarding Pell Grant you can visit our website at www.argosy.edu.

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