Only look for alternative private student loans after you have exhausted all potential scholarships, federal grants, work-study funds, and federal loan programs (Federal Direct Subsidized/Unsubsidized, Federal Direct PLUS). The links below are intended to provide students and their parents with the tools they need to make the best decision in evaluating alternative loan options.
CMC utilizes a system called ELMSelect as a student financial aid lender comparison resource. This resource gives borrowers the opportunity to view different loan types and preferred lenders, and to also evaluate, compare and select a lender that best fits their loan needs. ELMSelect also provides an additional comprehensive neutral list of lenders to provide an even greater choice of options.
According to the Truth-in-Lending Act requirements, alternative, private education lenders are required to provide prospective borrowers with private loan disclosures before they take out a private loan. These private loan disclosures will disclose to the prospective borrowers basic information about loan terms and possible costs.
Search for private student loans using Simple Tuition student loan comparison tools.
Once you have been approved to take out a private loan, then you must submit an Applicant Self-Certification Form.