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Private Educational Alternative Loan Information

 General Information

Private alternative loans are non-federal educational loans available from a variety of national lending institutions. Private alternative loans can be borrowed in place of federal loans* however students are encouraged to first complete the Free Application for Federal Student Aid (FAFSA) at www.studentaid.gov and exhaust all eligibility for federal funds before applying for alternative loans.

Private alternative loans require a good credit rating and usually require a credit worthy co-signer. If a parent is credit denied for the Federal Direct PLUS loan due to adverse credit, that parent usually will not qualify as a co-signer for a private alternative loan.

The maximum amount that a student can borrow in a private alternative loan is their Cost of Attendance minus any other financial aid awarded.

Private alternative loan processing may take several weeks from the time you apply for the loan until the funds disburse to your Student Account. Regulation Z is a federal policy that requires all lenders of private educational loans to provide to the student borrower a series of loan disclosures and a cancellation period before the funds can be sent to the school. It also requires that the student borrower complete and submit a Self Certification form to the lender. These requirements will affect the time for lenders to process and disburse private loan funds. If you plan on applying for a private loan, you need to start the application process several weeks before the funds are needed. Registration holds will not be cleared if the loan is not approved for disbursement with the lender. Student Account finance charges will not be waived if the loan disbursement is received after the payment due date required by the Student Accounts Department.

We suggest you research these questions with the lender of your choice when selecting a private loan lender:

  • Does the loan require a co-signer? Is there a co-signer release option?
  • Are there fees on the loan?
  • What is my interest rate?
  • When does the loan repayment start? How long do I have to repay?
  • Can principal and interest be deferred while the student is in school?
  • Can principal and interest be deferred if the student later attends graduate school?
  • What repayment benefits are offered on the loan?


*Federal loans (Direct Subsidized, Direct Unsubsidized, Direct Parent PLUS, Direct Graduate PLUS) are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness benefits, which other student loans are not required to provide. Federal direct loans are available to students regardless of income.


 Applying for Private/Alternative Loans

Most lenders have restrictions regarding credit approvals. If you need a private/alternative loan because you are enrolled less than half-time status or need to pay off a balance from a prior term, you will need to check the lender's eligibility requirements before applying for the loan.

Click on the link below to view/compare lenders that have provided private educational alternative loans to Pepperdine University, Seaver College students in the past three years. We recommend that you review the terms and conditions of several lenders before applying.

Pepperdine University, Seaver College does not have any preferred lender arrangements with any of the lenders listed and cannot recommend a lender to you. You have the right to borrow through the lender of your choice.

Fast Choice Electronic List

 Loan Period Dates

The lender will ask you to specify the loan period that you want the loan for. The loan period tells the school which semester(s) you want the loan processed for.

Use the dates below to apply for the appropriate loan period.


08-21-2023 to 04-25-2024
Loan will be processed for both the Fall 2023 and Spring 2024 semesters.  The loan amount will be evenly divided between the two semesters.


08-21-2023 to 12-14-2023
Loan will be processed for the Fall 2023 semester.


01-08-2024 to 04-25-2024
Loan will be processed for the Spring 2024 semester.


 Self Certification Form

You will be required to complete the Department of Education's self-certification form during the private/alternative loan application process. It is recommended that you use the form provided by your lender during the application process. You can also link to the generic form and instructions for completing the form by clicking here.

Important Note: The completed form needs to be submitted to the lender.