Alternative or Private Loan Options

There are a variety of private loans for education that are available to Delaware Valley College students. The Financial Aid Office strongly encourages you to borrow Federal student loans first and then consider the Tuition Pay Payment Plan and/or the PLUS Loan before applying for a student alternative loan.

If you have exhausted less expensive financing options, such as Federal student loans, Tuition Pay Payment Plan and the Parent PLUS loan, you may want to consider a student alternative loan.

The student is the borrower for the alternative loans; however, in most cases, a credit-worthy cosigner is required. Having a credit-worthy cosigner will also likely reduce the cost of the loan (interest rate, up front and back-end fees, etc.) Please be aware that the cosigner is fully responsible for repaying the loan should the borrower stop making payments. There are some alternative loan products that offer a cosigner release option after a specified number of on-time payments are made and the borrower is credit-worthy.

How do I select a student alternative loan?

To assist families with choosing an educational lender for alternative loans, please visit Elm Select to view a list of alternative loan products our students and families have used. You may also view other education lenders and compare at this site.Please be aware that you are free to conduct your own research and comparison of alternative loan products and select any lender of your choice.

For additional important information about securing a student alternative loan, please click here.

Borrowers are welcome to choose any participating lender. Please keep in mind the student loan industry is constantly changing, and lenders can change or eliminate borrower benefits without notice.

The Higher Education Opportunity Act (HEOA) added a section to the Truth In Lending Act to require that before a private educational lender may consummate a private education loan for a student in attendance at an institution of higher education, the private education lender must obtain the completed and signed Self-Certification Form from the applicant. The form is normally provided by the lender during the application process and that is the preferred method of obtaining that document.

Download the Self-Certification Form

Please contact the office if you have any questions. We can be reached at 215.489.2272 or email We are here to help you!