Alternative Loans Alternative loans are designed to assist students and their families who either are not eligible for federal grant and loan funds, or who need additional educational financing. Loan approval is generally based on creditworthiness and ability to repay. Alternative loans are available to students who are pursuing a degree program at Eastern Mennonite University enrolled at least half-time, and maintaining satisfactory academic progress. As with any loan, careful consideration should be made in determining amounts to be borrowed, as the loan must be repaid. The interest on most alternative loans accrues while the student is in school.
Many lenders offer alternative loans.
The Financial Assistance Office has applications for our preferred lenders. There you will complete a profile about yourself and the website will generate a chart listing the alternative loans that would be best for you.