Private/Alternative Student Loans

Private (or alternative) student loans are loan funds that come from sources other than the federal government and are offered by some commercial lenders. Before you apply for a private student loan, you should explore all available federal student aid assistance by applying through the Free Application For Federal Student Aid (FAFSA). You may apply for federal student aid at www.fafsa.ed.gov. The terms and conditions of federal student loan programs may be more favorable than that of private education loans. Be aware that while some private loan programs offer benefits similar to federal student loans, they are not always the same. You may review the current federal student loan interest rates, requirements and benefits here:  https://studentaid.ed.gov/sa/types/loans/interest-rates.  If you choose to borrow a private student loan, make sure you understand the interest rate, fees, deferment options and repayment terms for the loan program you select. If you need assistance in reviewing your federal aid options or have questions about private loans, please contact PNCA’s Financial Aid Office.

Additional requirements:

  • You can apply for private loan funding for the entire academic year (summer-fall-spring) with one application.  Please plan accordingly so that you are not hurting your credit by applying multiple times throughout the year.
  • Most private loan programs require that you are attending at least half-time (6 credits) each semester that you receiving funding.
  • You must credit-qualify with your selected lender before receiving private loan funding. Many students will choose to apply with a credit-worthy consigner to increase the likelihood of approval.
  • The amount you can apply for depends upon the other aid you have received or will receive for the current academic year. Please check with the Financial Aid Office to make sure the amount you wish to borrow is within acceptable limits.
  • Please borrow conservatively. College is expensive, but there may be alternatives to borrowing additional funds to meet your expenses. Make sure you are only borrowing private funding if it is absolutely necessary.

The following is an alphabetized list of lenders who have approved private loan funding for PNCA students in the past. PNCA is not affiliated with any of the lenders listed. The list below is not intended to be an exhaustive list of private student loan lenders; you may borrow from any lender that you prefer, regardless of whether it is listed below. PNCA’s Financial Aid Office is happy to work with all private loan lenders to help you secure the funding you need:

Citizen’s Bank

College Avenue Student Loans

Discover Private Student Loan

Oregon Community Credit Union

Sallie Mae Smart Option Loan

Sallie Mae Parent Loan

Wells Fargo Collegiate Loan

Wells Fargo Student Loan for Parents

Contact Us

Please feel free to contact PNCA’s Financial Aid office at any time by phone, fax, email, or in person if you have any questions or need assistance.
phone: 503-821-8971
toll free: 888-390-7499
fax: 971-242-3865
email: financialaid [at] pnca [dot] edu