Alternative Loan

Whittier College recommends that all other methods of education financing be exhausted, including federal loans, grants, and scholarships, before taking on private student loans.

Who Is Eligible?

This is a private loan in the student's name. A credit worthy co-signer is recommended and may be required to keep the loan fees and interest rate to a minimum. The student and co-borrower must be a U.S. Citizen or permanent resident. International students are welcome to apply for this loan, however, a credit-worthy U.S. Citizen or permanent resident cosigner is required.

Although most lenders provide these loans based on at least half-time enrollment, there are a few lenders who will provide loans to students enrolled less than half-time.

Amount of Eligibility 

You may borrow up to the cost of attendance minus any other financial aid received. Be advised that some lenders may limit the amount that you can borrow to assist with loan indebtedness.

Interest Rate

The interest rate may vary depending upon the lender and the credit worthiness of the student and their co-signer.


Your Alternative Loan funds will be sent via EFT (Electronic Funds Disbursement) and/or paper check.  The funds will be applied directly towards your Whittier College student account. The loan amount borrowed is divided into a fall and a spring disbursement, unless otherwise detailed on your loan application, where the borrower indicates a one time disbursement by semester.

Provided all documentation and certification has been complete and successful, the typical disbursement of a private loan to a student's account can take place within nine business days, unless otherwise detailed by the loan lender or institution. 


Repayment begins six months after you graduate or are enrolled less than half-time, unless otherwise detailed in your loan application or by your lender. All lenders are unique, and vary in terms and conditions of their loan programs. Please thoroughly read all documentation and loan applications prior to borrowing.

How to Apply for an Alternative/Private Loan

If you would like to research your alternative loan options, please visit our alternative loan page by clicking here, this free online resource will help you compare private student loans.

Once we have received notification that the Alternative loan has been approved and the application is complete, we will process your Alternative loan.

FASTChoice Alternative Loan List