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The regulations governing academic progress have established a student is required to complete seventy five (75%) of all credits attempted each academic year. If the student does not meet the above stated requirements, he/she will not receive federal funds which include the Federal Pell Grant, Federal Work/Study program, Federal Supplemental Educational Opportunity Grant, Federal Stafford Loans, and Federal PLUS Loans for the following semester. Those students not eligible for Federal Aid may consider applying for an alternative loan to help cover the cost of his/her education.

Here is a list of alternative loans you may wish to consider:

Sallie Mae (SMART OPTION LOAN)
Visit: www.stufund.com/smartoptionloan
1-800-695-3317

PNC (Undergraduate Soultion Loan)
Visit: www.pnconcampus.com
1-800-762-1001

IMPORTANT:
WE STRONGLY RECOMMEND THAT YOU RESEARCH ANSWERS TO THE FOLLOWING QUESTIONS BEFORE APPLYING FOR AN ALTERNATIVE EDUCATIONAL LOAN OR SIGNING ANY LOAN PAPERWORK.

ELIGIBILITY
 What are the minimum and maximum loan amounts available?
 Will this loan meet my long-term educational borrowing needs, as well as, my immediate short-term needs?
 How will my credit rating affect my loan?
 Is a cosigner required? If so, under what conditions?
 Is there an option to release the cosigner at a later date?

INTEREST RATE AND FEES
 Does the spread/margin over the interest rate fluctuate?
 Is there an interest rate cap?
 What is the current interest rate?
 What additional fees, interest reductions, or other incentives are offered during the life of the loan? If any, do these conditions vary based on credit rating, academic level, or availability of a cosigner?
  When are late charges assessed, and how much are these charges?
 How is my loan capitalized – annually or only at repayment?

REPAYMENT TERMS AND CONDITIONS
 What are the minimum and maximum terms and payment amounts?
 When do payments begin?
 Can interest-only payments be made while still in school?
 Is there a penalty for paying off the loan early?
 Does the lender offer combined billing of alternative and federal loans?
 Are grace periods, deferments, or forbearance offered? If so, what are the conditions and how is interest capitalized during these periods?

BORROWER BENEFITS
 Does the lender offer any other borrower benefits? If so, what is the eligibility requirements?
 If a borrower does not qualify for a benefit, what is the appeal process?

SERVICE
 What is the turnaround time for credit decisions and disbursement of funds?
 How are problems resolved? Does problem resolution occur in person, by phone, online, or another method? Is there access to loan information via the Web?
 What is the lender's policy on selling loans to other lenders after the loan has been disbursed?