Alternative loans
Access private, non-governmental funds that are available if you need additional sources of funding.
About alternative loans
You may borrow up to your cost of attendance (COA) minus any other financial aid that you receive for that aid year.
Alternative loans have different interest rates, fees and repayment options than US government loans. A co-signer may also be required. Some lenders offer borrower benefits that reduce your loan balance or lower your interest rates. If you are not registered in a degree program, you may still apply for alternative loans. Please keep in mind that it is your decision which loan product you choose. The FAAO will certify any alternative loan that you choose provided the organization accepts that you are attending an institution outside of the US.
Application process
- Contact a US Financial Aid Advisor at the FAAO to advise them you have applied for private loan funding
- Please see the Private Education Loan Disclosures (PDF) including the Private Education Self-Certification form.
- Complete the U.S. private loan application form (PDF) and upload your documents in one PDF through your Student Centre. Once that is done, email fundingyoureducation@concordia.ca. If you're already working with a financial aid advisor from our office, please contact them directly. Click here for guidance on how to upload your documents securely to your Student Centre.
- Students should apply online via the loan provider's website (e.g.: salliemae.com or vsac.org)
- Respond to the Cost of Attendance (COA) email sent to you from the US Financial Aid Advisor
- Wait for your alternative funding deposit notification email
Receiving your US alternative loan
All students receive their alternative loan funds by deposit to their student account in two or three equal disbursements.
- An e-mail notification is sent out by the Financial Aid & Awards Office when the funding arrives.
- Once funds have applied and students have a credit balance, students may request a refund cheque through their student portal after the established deadline.
Receiving your US alternative loan
All students receive their alternative loan funds by deposit to their student account in two or three equal disbursements.
- An e-mail notification is sent out by the Financial Aid & Awards Office when the funding arrives.
- Once funds have applied and students have a credit balance, students may request a refund cheque through their student portal after the established deadline.