Ferris State University Big Rapids MI College

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Alternative Loans

The Purpose of Alternative Loans

Alternative loans are available to fill the gap between the cost of attendance and the student's financial aid award. The first step in choosing an alternative loan option is to determine who the borrower will be.

Ferris State University carefully monitors the student loan industry and provides information on both federal and private alternative loans to help families make informed decisions. There is no "best option" that works for every family.

Ferris State publishes a "Preferred Lender List" of private lenders that we believe represent the best options available in the student loan industry. At the bottom of this page, you will find links to Frequently Asked Questions, information about how we select lenders for this list, a "Code of Conduct" for those lenders, and other information you may find helpful.


The first step in choosing an alternative loan is to determine who the borrower will be. Please read the description of the borrower options below and select the option that you believe works best for your situation. Click on the different options for more information.

Parent - Biological, custodial, or stepparents of students

Sponsor - Any credit-worthy individual who is willing to assume loan debt for a student

Student - Any enrolled student. A Credit-worthy cosigner is required for most alternative loan options.

Important Links:



Office of Scholarships and Financial Aid
1201 S. State Street, CSS101
Big Rapids, Michigan 49307
(231) 591-2110
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