Granite State College: University System of New Hampshire

Private (Alternative) Loans

About Private (Alternative) Loans

Private loans, also known as alternative loans, are non-federal student loans that may be needed by Granite State College students to fund and/or supplement the cost of their education. All private loans are credit-based and have variable interest rates (meaning there is no limit to the amount the rate can increase).  Students may borrow up to the cost of attendance less any financial aid. Private Loans should be used as a last resort to fund your education.

Any borrower of any private education loan is required to complete a self-certification form that contains required lender disclosures. This form requires information about your cost of attendance, your expected family contribution, and your estimated financial assistance. This information may be found on WebRock, your award letter, or by contacting the Office of Financial Aid.

Please make sure to read and review all loan disclosures associated with the lender of your choice to understand the term and conditions of the loan and your repayment responsibilities.


Granite State College does not promote or endorse any private lender and does not provide a preferred lender list. Students are allowed by federal law to select the lender of their choice, but must notify the Office of Financial Aid of their selection if approved. Please contact us to discuss your options to ensure all federal student aid has been exhausted before applying for private assistance.

The Granite State College Office of Financial Aid strongly encourages the use of all federal, state and institutional aid programs identified through the filing of the Free Application for Federal Student Aid (FAFSA) before applying for any private loan option.

The borrowing of all Federal Direct Loans should be maximized before exploring a private loan option. Research all your possibilities for scholarships, grants, work study and Direct PLUS programs before borrowing a private loan. You may need a creditworthy co-signer in order to obtain the best possible rate and conditions for a private loan.