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Alternative Loans

  • Alternative student loans are specialized college student loans designed to provide supplemental funding to cover unmet need.
  • Alternative student loans can be used for any education-related expenses including tuition, books, transportation and room and board up to the Cost of Attendance. You may apply for an alternative loan prior to the end of the semester.
  • Approval is generally based on your and your cosigner's credit and should be considered only after all federal student loans, grants and scholarships have been exhausted.

To apply for federal loans, go to www.fafsa.gov

Many students and parents find the cost of education slightly out of reach, even with federal financial aid. To address this issue, they may want to consider the option of seeking an alternative student loan from a private source.

If this describes you, here are some considerations:

  • Have you exhausted your federal, state, and college resources for student aid?
  • Have you applied for all the scholarships and grants for which you may be qualified?
  • Have you figured in any college savings?
  • Will you have any income while you are in school?
  • Have you taken the time to calculate the difference between the funds you already have and the cost of your education?

Our preferred lender list is reviewed each year and updated when necessary. Lenders are selected based on the best value for our students. An evaluation of lenders will take place every three years. Fontbonne University does not receive, and will not accept, inducements from lenders in exchange for inclusion on this list. Additionally, Fontbonne University does not share in the profits from alternative loans. Borrowers are welcome to choose any lender that offers an alternative educational loan, regardless of whether or not it is on our preferred lender list. Lenders are listed in alphabetical order.

Please contact the Financial Aid office if additional information is needed (314-889-1414).

Smart Option

Benefits

  • Co-signer release option*
  • 0.25% interest rate reduction for using auto-debit
  • 2% Smart Reward (U Promise Account)
  • 6 month grace period
  • Death Safeguard

Can I take less than six (6) hours? Yes

Can I use the loan to pay a back balance? Yes

No Origination Fees

Eligibility: Students who are enrolled in:

  • Undergraduate Degree Programs
  • Graduate Degree Programs
  • Continuing Education Programs

Minimum loan amount: $1000

Repayment: Up to 15 years

Application & Solicitation Disclosure

(Click here)

Apply for

Smart Option

 

 

Who do I call with questions?

1-800-666-3910
M-F 8:30am to 5:00pm

Smart Option

Benefits

  • Co-signer release option*
  • 0.25% interest rate reduction for using auto-debit
  • 2% Smart Reward (U Promise Account)
  • 6 month grace period
  • Death Safeguard

Can I take less than six (6) hours? Yes

Can I use the loan to pay a back balance? Yes

No Origination Fees

Eligibility: Students who are enrolled in:

  • Undergraduate Degree Programs
  • Graduate Degree Programs
  • Continuing Education Programs

Minimum loan amount: $1000

Repayment: Up to 15 years

Application & Solicitation Disclosure

(Click here)

Apply for

Smart Option

 

 

Who do I call with questions?

1-888-2SALLIE

M-TH 7:00am - 8:00pm

F 7:00am - 7:00pm

Custom Choice

Benefits

  • Co-signer release option*
  • 0.25% interest rate reduction for using auto-debit
  • 1% Reduction to principle for graduating
  • Additional 0.25% interest rate reduction for auto debit from a Suntrust Bank deposit account
  • 6 month grace period

Can I take less than six (6) hours? No

Can I use the loan to pay a back balance? Yes

No Origination Fees

Eligibility: Students who are enrolled in:

  • Title IV Eligible Programs

Minimum loan amount: $1001

Repayment: 5, 10, 15**, 20**

Application & Solicitation Disclosure

(Click here)

Apply for

Custom Choice

 

Who do I call with questions?

1-866-230-5609

M-F 8:00 am - 7:00 pm

Collegiate Loan

Benefits

  • Co-signer release option*
  • 0.25% interest rate reduction for using auto-debit
  • 0.50% interest rate reduction for graduation
  • 6 month grace period

Can I take less than six (6) hours? Yes

Can I use the loan to pay a back balance? Yes

No Origination Fees

Eligibility: Students who are seeking a:

  • Degree
  • Certificate
  • License

Minimum loan amount: $1000

Repayment: Up to 15 years

Application & Solicitation Disclosure

(Click here)

Apply for

Collegiate Loan

 

Who do I call with questions?

1-800-658-3567

M-F 7:00am - 10:00pm

Sat 7:00am - 12:00pm

Non peak time (October through June)

M-F 7:00am - 8:00pm

 

* Must meet lender's credit criteria, see lender's website for details.

** In order to qualify for the 15 or 20 year repayment term, minimum loan amount is $5,000.

*** International Students may qualify with an eligible US Citizen or permanent resident co-signer.

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