Alternative and Private Loans

Alternative and Private Loans

Alternative and private educational loans are additional loan opportunities available to our students through commercial lenders. Alternative loans may be used as a source of financial aid in addition to Eureka College, state and federal assistance. These loans are subject to credit analysis and usually require a co-signer.

Since federal loan programs are typically less expensive than private loans, students should consider alternative loans last when developing a strategy to pay for their education at Eureka College. Other financing options include a home equity line of credit, which may have tax benefits for some families, or another type of collateralized loan. You may want to discuss these with your financial advisor.

Below are some links to alternative loan lenders. You may select any lender that participates in the Alternative Loan Program. Eureka College does not have a preferred lender list and has not entered into a preferred lender arrangement with any lender. Borrowers are not limited to the lenders listed below.

Alternative Loan Lenders for Students:

Sallie Mae
Alliant Credit Union
Cefcu
Citizens bank
Commerce Bank
Lendkey
Discover
pnc
Union Federal

Alternative Loan Lenders for Parents:

Sallie Mae

*The Sallie Mae Parent Loan gives a parent or any creditworthy individual (including spouses, family members, and guardians) another option for financing college expenses for their student.

Contact us:

Office Location: Admissions and Financial Aid building, Burgess Street

Regular office hours: Monday–Friday, 8am–5pm, evenings by appointment

Mailing Address:
Eureka College
Financial Aid
300 East College Ave
Eureka, IL 61530-1500
Telephone: 309-467-6310
Fax: 309-467-6897

Tammy Crothers, Director of Financial Aid, 309-467-6311

Sandi Gourley, Financial Aid Specialist, 309-467-6310

You can file FAFSA®anytime after October 1.