Alternative Loans

BEFORE applying for an Alternative Loan, please note:

Application Priority Processing Dates

Your loan application must be on file with our office by these dates in order for your loan funds to be available for the first billing due date.

Priority Processing
Summer 14 Fall 14 Only Fall 14/ Spring 15 Spring 15 Only Summer 15
Application should be received in our office by the following dates: April 18, 2014 June 27, 2014 June 27, 2014 Dec. 12, 2014 May 1, 2015

Final Application Deadline Dates

Loan applications submitted after the priority deadline dates will be processed throughout the semester; however, alternative loan applications should be submitted to your lender by the following dates to be processed for the following semesters:

Final Deadlines
Summer 14 Fall 14 Only Fall 14/ Spring 15 Spring 15 Only Summer 15
Application should be submitted to your lender by the following dates: June 27, 2014 Dec. 12, 2014 May 1, 2015 May 1, 2015 June 26, 2015

Self-Certification and Cost of Attendance (COA)

Alternative Loan Lenders

Application for an alternative student loan is made directly through the lending institution. Many lenders have alternative student loan options. Check with your bank, lending institution, or search the Web for "Alternative Student Loan" to find information on participating lenders, application requirements, interest rates, loan limits, and repayment options. There are many lending institutions so students and parents should carefully research multiple options and choose the lender that best meets your individual financial needs. The University of Maryland, Baltimore County does not endorse any specific lender or group of lenders.

After you have completed your application, your loan request will:

  • be sent electronically from the lender to our loan data provider, ELM, and
  • we will receive your loan request and certify your loan eligibility on ELM within our current processing timeframe (usually three to four weeks), and
  • ELM will send notification to your lender that your loan request has been certified, and
  • your lender will schedule your electronic funds transfer (EFT) directly to UMBC.
  • Please monitor and respond quickly to any school or lender requests