A private loan is a nonfederal loan made by a lender such as a bank, credit union, or state agency. There are many considerations a student and family should take to decide if a private loan is the best option for them.
Students and parents can use any lender of their choice. Buffalo State provides a list of recommended lenders as a starting point to assist students and families in the private/alternative loan selection process. Students and parents have the right to select a lender of their choice and will suffer no penalty for selecting a lender that is not on our list. Lenders on our list have been selected for the sole benefit of the students attending our institution and have demonstrated a commitment to providing competitive loan terms, a range of eligibility requirements, innovative technology, quick loan processing, flexible repayment options, and the absolute best in customer service.
We solicited a Request for Information (RFI) from numerous lending institutions and evaluated their responses based on the above criteria to make our selection. To review each lender's disclosure statements refer to the How Lenders Were Chosen page.
(students are not limited to this list)
Some Information on Applying for Private Alternative Loans:
If you have already taken advantage of federal grants and loans and still find the need for funds, keep in mind the following tips and guidelines when selecting a lender. Always borrow conservatively and only borrow what you need. The choice of a lender is your personal decision. We strongly urge you to do your research and ask the following questions when selecting a lender:
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