Other Aid Sources
You may also find that these non-traditional funding sources provide you and your family with additional options for financing your education. Many of these services are part of a peer-to-peer lending platform that allows you to borrow funds without a credit check from friends and family payable in terms established by the family. Other peer-to-peer sites lend based on a combination of academic merit and traditional credit score.
GreenNote is a new company that has been created to help you obtain loans for education via social networking rather than through traditional lending methods. GreenNote loans feature a low fixed interest rate of 6.8%. Virtually all students are eligible since there are no credit requirements or traditional underwriting criteria. Visit the GreenNote website for information on how to get started.
Credit Unions are becoming a source of private alternative education loans. Check with your local Credit Union for loan eligibility requirements.