Alternative Financing
For many families, the "How do I pay for college?" question is ultimately as important as "Where am I going to college?" Few families today can afford to pay for college out of discretionary income. Even after a financial aid package, the "How do I pay for the rest of it?" question often looms large.
In addition to Direct Student Loan and Direct PLUS Loan options there is also the option to apply for an alternative loan. These loans are from a third party source that is not the Department of Education. Alternative loans can offer attractive interest rates and flexible repayment options. Families can choose a lender of their choice. This can be their personal banking institution, credit union, etc. However, Muhlenberg has also paired with ElmSelect to offer families a way to search for loan lenders that they may have not been aware of. Please keep in mind, if a student chooses to apply for an alternative loan they will be completing the application and providing any additional information for the loan to the lender they have chosen.
Families also have the option to start a Muhlenberg College Monthly Payment Plan that helps many families manage their own cash flow in meeting educational costs.
We hope you will take a moment to consider these financing options. You may find, as many families have, that they are very helpful in making the Muhlenberg educational experience affordable.
