Students may opt to apply for a Private loan (sometimes referred to as an Alternative loan) to pay for their costs. Private loans are available from many lenders. Each of these lenders will have their own terms and conditions for borrowing and repayment. Northwest suggests that you do research to determine which lender is the best fit for you, personally. Northwest is not able to recommend any particular lenders, but provides an historic list based on several prior years.
Private loans decisions are based on the credit scores of the student borrower and most will require a cosigner. The cosigner may be a parent, or other creditworthy individual. The amount available may be based on both the student's credit and on the student's budget.
Click here for specific information about these types of loans and a comparison of several lenders with whom Northwest students have worked.