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Alternative Loan Options

With the rising cost of education today, more and more students are finding they are still in need of additional money for college. Lenders are offering private education loans to students to provide that additional financial support they need. Private education loans are separate from the Federal Student Loan program and must be approved by their lender. The following are lenders that have provided private loans to our students within the last 3-5 years that are currently doing business.

Private education loans have new federal requirements that can take up to 45 days or more to process. Regulations require documentation that must be completed through the lender before funds are released to school. For more information contact the lender.


DEAL Loan (Dakota Education Alternative Loan)

For further information on the DEAL loan you may refer to the Bank of North Dakota website Students must have a completed FAFSA on file and be meeting Satisfactory Academic Progress requirements to be eligible.


Nursing Education Loan Program

The Nursing Education Loan Program is available to students in associate, bachelors and masters degree programs in nursing. It also is available to graduate nurse students pursuing a doctorate and nurses enrolled in a refresher course.

For additional information visit North Dakota Board of Nursing.


Sallie Mae Smart Option Student Loan Program

For further information on the Smart Option Loan you may refer to the Sallie Mae website.



For Minnesota Residents Only

For additional funds for college expenses, contact the Minnesota Higher Education Services Office for information on the SELF-Loan.

The following steps must be completed for your loan to be disbursed to your school:
  1. Borrower completes the Application process with the lender of their choice.

  2. A credit-worthy cosigner must complete the cosigner process online or the paper Cosigner Credit Application and Promissory Note.

  3. Review the Application Disclosure for the interest rates prior to selecting the rate type.

  4. The Private Education Applicant Self-Certification form (Self-Certification) is to be completed, signed, and returned to the lender.

  5. Acknowledge and accept the terms of the Approval Disclosure, by signing and dating the cover letter and returning it the lender within the time frame noted on the disclosure.

  6. The Final Disclosure, which will provide you with the option to cancel your loan by a specific date, will be sent to you prior to the disbursement of funds to your school.

* NOTE: A prefilled Self-Certification form along with an Approval Disclosure will be provided to you by lender once you have completed the application process. The Approval Disclosure will identify the terms in effect at that time and will be available for 45 days (terms will not change during this period, except as permitted by law). If the Approval Disclosure and Self Certification forms are not acknowledged, signed, and returned to lender within the time frame noted on the Approval Disclosure; this loan request will be cancelled.