Alternative Loans (Non Federal Student Loans)
Alternative loans can be obtained for up to the cost of attendance at Trinity College minus all other financial aid awarded to the student for the same period. Alternative loans are typically in the name of the student and will most likely require a credit worthy co-borrower. A FAFSA is not required to obtain an alternative loan. It is recommended that students and families carefully consider and compare all federal student financial aid sources available before seeking alternative loans.
Use ELMSELECT to compare lenders and apply. To make the selection process easier, Trinity College provides comparative information from lenders through ELMSELECT website allowing you to compare loans by the criteria you choose. We recommend these lenders based on the quality of products and services they provide to students and families. We have carefully considered our selections in order to provide you with the best possible list of suggested lenders. However, if you wish to use another lender that is not on this list, you have the right to do so.
Once you have narrowed down your lender choice apply directly to several to compare rates and terms before you decide. Be sure to complete all required documents including loan promissory note, Private Loan Self Certification and all co-signer documents. Do not send these documents to Trinity College.
The list of private lenders is reviewed annually, and the following criteria are used in choosing lenders:
Discover student loan disclosure documents Citizens Bank disclosure noticesWells Fargo loan disclosuresCHESLA loan disclosures
- Competitive interest rates
- Competitive front and back end benefits
- Efficiencies in processing loan transactions from certification to disbursement
- Lender must scope information in ELMSELECT product and update product changes
- School must be able to certify loan through ELM Resources
- At least three lenders must be unaffiliated with other preferred lenders at Trinity College.