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Financial Aid
Alternative Loans
Lake Superior College recommends that students borrow a Stafford loan, SELF loan and/or PLUS loan prior to pursuing an alternative loan program. However, there are several instances when an Alternative Loan may be necessary:
Lake Superior College offers some short certificate programs that are not 16 credits in length and therefore do not meet the program length requirements for the federal and state loan programs. The Alternative Loan program is an option for persons pursuing these short programs.
Independent students in high-cost programs such as the Aviation program may find that the federal and state sponsored loan programs do not cover all of their costs. The Alternative Loan program offers an additional option to these persons.
There are numerous financial institutions that offer Alternative Loans. However, each will offer different terms and interest rates. Make sure that you research the loan and apply with a reputable institution. Searching their websites will give you further information regarding their specific Alternative Loan programs.
