Alternative loans are private, credit-based, non-federal loans. These loans are made by national, regional, and local lending institutions to assist families in paying educational costs. The loan products offered vary, and borrowers are encouraged to compare all options related to private loans and compare them to federal loans. UAB does not recommend or suggest any lender over another. It is important for borrowers to research lenders and loan terms and conditions carefully.

As part of the application process, the lender will do a credit check. If you have not built a credit history, or if your credit rating is low, the lender may require a co-borrower. Adding a credit-worthy co-borrower will help increase the chances for approval and could lower the interest rate of the loan.

Students applying for an alternative loan are required to complete the Private Education Loan Applicant Self-Certification Form, which can be obtained through the lender. Borrowers must provide information regarding aid they are currently receiving and the total cost of attendance for UAB. You can obtain this information on "My Financial Aid" in BlazerNET.

As part of the application process, you will be asked to identify the amount and academic term for which you’d like the loan. A separate loan application must be submitted for each academic year. When your loan funds are received by UAB, the funds will be applied to any outstanding charges on your UAB account. Any remaining funds will be refunded to you by direct deposit or paper check. You may sign up for direct deposit through BlazerNET.

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Cost & Aid