Alternative Loans

Before applying for an Alternative Loan, Gettysburg College wants to be sure you are aware of all federal grant and loan programs that may be available to help meet your educational expenses. Listed below are the federal programs at Gettysburg College and the maximum amounts available for the 2023-24 academic year.

Federal Pell Grant


Federal FSEO Grant


Federal Direct Subsidized/Unsubsidized Student Loan Information

Grade Level

Base Amount

Additional Unsubsidized
Direct Loan







Junior or senior



Alternative Education Loan Information

Alternative Loans (sometimes referred to as private loans) are available through various lending institutions and are not guaranteed by the federal government. Eligibility is based on the creditworthiness of the borrower or co-signer.

Interest rates, fees, repayment periods, etc. can vary by lender and loan program. In order to remain competitive lending institutions frequently reevaluate their alternative loan programs. Carefully review the websites for those loans that are of interest to you or call the loan program to discuss the available options. To get started, enter “alternative education loans” into any of the various search engines on the web.

The Higher Education Opportunity Act of 2008 gave borrowers 30 days to accept the terms of the loan and ten days to cancel the loan. Prior to receiving an alternative loan, the borrower must certify with the lender, among other things, that he or she is aware that the student may qualify for assistance from federal student aid programs. Note: the terms and conditions of loans made under the federal student aid programs may be more favorable than the provisions of private education loans.

Some alternative loan programs permit the student to borrow in his/her own name; others require a credit-worthy co-signer, who does not necessarily have to be the parent. Other programs are available exclusively for parent borrowers.

If you wish to borrow an alternative loan, please apply on line with the lender at least 45-60 days before the funds are needed to provide adequate time for processing.

We will be happy to process a loan through any lender that you choose.