MSOE accepts alternative loans, or private student loans, which are issued by a lending institution; they are not part of the federal government guaranteed loan programs.
Parents or students looking to apply for Alternative Loans for the 2022-2023 school year should apply after April 1st, 2022.
It is important for students to complete the FAFSA annually to ensure their eligibility is calculated for federal loan, grant, and Work-Study programs before borrowing from an alternative loan program. The student borrower may qualify for federal student financial assistance under the Title IV Financial Aid programs. Please see the loans page for a comprehensive listing of loan opportunities available to students and parents.
Please note that in accordance with the Truth in Lending Act, the borrower shall have the right to accept the terms of the loan at any time within 30 calendar days (or such longer period as the private educational lender may provide) following the date on which the application for the private education loan is approved and the borrower receives the disclosure documents required under this subsection for the loan.
MSOE FASTChoice Alternative Loan Tool
Please visit our Alternative Loan FAST Choice page by clicking the button below. While there, you will have the option to learn more about alternative loans, view our historical lender list from the previous academic year, compare loan options, and apply for a private loan.
MSOE’s Lender Selection Policy Disclosure
The lenders and loan options presented on our FastChoice page include all lenders who made a loan at the school within the last three academic years. You are free to select any lender, including those not presented. Application processing will not be delayed if you choose a lender not presented. MSOE maintains a professional relationship with all lenders. Our officials are prohibited from accepting financial or other benefits in exchange for displaying lenders. These include: receiving compensation to serve on any lender’s board of directors or advisory boards; accepting gifts including trips and entertainment; allowing lenders to staff our institution’s financial aid office; allowing lenders to place our institution’s logo on any of their products; and owning lenders’ stock (only pertaining to those college officials who make loan decisions for our institution).
Another financing option for MSOE families is the Parent PLUS loan which is available to parents of dependent MSOE students. To view more information regarding this financing option and to apply, please click on the link below.