Alternative Loans Alternative loans are non-federal loans with lender approval based on your satisfactory credit history. Some alternative loans require a credit-worthy cosigner or allow you to use a cosigner in order to receive a lower interest rate. Alternative loans help bridge the gap between the cost of attendance and the amount of federal loan eligibility. Typically federal student loans are less expensive and offer better terms than alternative education loans, so be sure to exhaust your eligibility for federal student loans before considering an alternative education loan. The interest rate and fees on an alternative loan may vary depending on the student’s and/or cosigner’s credit. The interest rate is typically variable and may change as often as monthly. Some lenders offer a fixed interest rate. How to Choose a Lender If you would like to borrow an alternative loan, you will need to apply with a lender. Please view our Q & A document below for information about alternative loans in general. When you are ready to find a lender, the links below provide information for lenders that we have determined offer a variety of loan products, a competitive total cost of borrowing, favorable borrower benefits, borrowing options for non-traditional students and easy processing capabilities, including electronic funds transfer. Please make sure you are using the link that corresponds to your student type, as the information is specific for those programs. This list does not constitute an endorsement of any lender by Hamline University and you are welcome to borrow from any lender you choose, even if that lender is not on the list. The information on the lender list is updated by the lender periodically as terms may change. Due to recent changes in federal legislation, please allow a minimum of 3–4 weeks for the alternative loan application process. Alternative Loan Questions and Answers Lender Lists Alternative Loan Lender List for Undergraduate, Post baccalaureate, and Teaching Licensure Students Alternative Loan Lender List for Master and Doctorate Students Alternative Loan Lender List for Law Students Alternative Loan Lender List for Law Bar Study Loan How to Apply for an Alternative Loan Log in to the appropriate FAST Choice site to view the Alternative Lender list. Undergraduate, Post baccalaureate, and Teaching Licensure students log in to FAST Choice Undergrad, Post bacc, Teaching Licensure. Master and Doctorate students login to FAST Choice Master and Doctorate. Law students log in to FAST Choice Law. Choose the lender that you would like to borrow from and click the Apply Now button to the right of the lender. You will be directed to the lender web site to complete the loan application.