Offices & Directories

Alternative Loans & Other Payment Options

Even with financial assistance, some families must consider additional payment options to meet educational expenses not covered by financial aid. Monthly payment plans and Private 529 plans are great options to consider first.

Beyond these options, the University of Redlands strongly suggests that students and parents take full advantage of federal sources of financial aid like the Direct PLUS Loan (for parents) or Direct Grad PLUS (for graduate students) before applying for alternative loans.

For more information about alternative loans please see our publication: Your Guide to Payment Options at the University of Redlands

Private loans are not part of the federal loan program and are typically more expensive for the borrower. Because private loans are not guaranteed by the federal government, they must be insured privately. This extra cost is often passed on to the borrower in the form of higher fees and interest rates.

After exhausting your federal options you may still wish to consider the alternative loan options listed below.

Please be aware that you are in no way required to utilize an alternative loan lender from below. Student Financial Services supports our students' right to utilize the lender of their choice.

To review our policy on recommending lenders, and for help determining which alternative loan is best for you, please visit our Alternative Loan Facts page.

If you would like to select an Alternative Loan from a lender not listed below please feel free to contact the lender directly

Tuition Pay—Monthly Payment Plan* 
TuitionPay is a convenient method for planning, budgeting and paying for your educational expenses. It is a monthly payment plan, not a loan; you will not be charged interest.

The only cost is an annual participation fee that is due with enrollment. The cost of the plan varies depending on program of study and length of the plan. Applications are available in Student Financial Services. You may also enroll online or call (800) 635-0120.

*Please note, this payment option is only made available to students enrolled in the College of Arts and Sciences.

Sallie Mae Smart Option Loan
The Smart Option Loan offers multiple repayment options and competitive interest rates for college expenses not covered by scholarships and federal loans. Students will have the choice between low variable interest rates and fixed interest rates. This includes competitive interest rates—2.25% APR to 9.37% APR, and no origination or prepayment penalties. Beginning April 1, 2013 Graduate students can take advantage of variable interest rates ranging from 2.25% APR to 7.33% APR. Upromise Smart Reward earns you a 2% Smart Reward for making on-time scheduled monthly payments while in school. (Not available with Deferred Option). In addition, students qualify for .25 % interest rate reduction while making scheduled monthly payments using auto-pay.
Students attending school full-time, half-time, or less than half-time may apply for the Smart Option Loan. Students with a cosigner may apply for a cosigner release after graduation and the completion of 12 consecutive on-time principal and interest payments. 
For more information, or to apply online, visit the Sallie Mae Loan Application, or call 888-272-5543 for more information.

Wells Fargo Collegiate® Loan
This loan is available to undergraduate students with no payments required while the student remains in school at least half-time. Both fixed and variable rate loan options are available, however, Wells Fargo charges no application, origination or early repayment fees. Fixed rates are available as low as 5.94% APR. Variable rates are available as low as 2.93% APR and are based on the Prime Rate. Students applying with a co-signer generally have lower interest rates and a faster approval process. You also may qualify for an Interest Rate Reduction up to .50% for ACH and graduation.
Borrowers may complete their initial application over the phone by calling 800-658-3567, or visit,

Discover Alternative Loan
Discover Student Loans are available to undergraduate and graduate students with Fixed rates as low as 5.49% APR and Variable rates as low as Prime Index +0.00% (currently 3.25%). Discover charges Zero Origination Fees. Repayment on the loan is automatically deferred while students are enrolled at least half-time. International students may be qualified with a US citizen co-signer. Borrowers will receive a 2.0% graduation reward on variable rate loans when graduation is certified to the lender, and are eligible for .25% interest rate reduction when utilizing the auto-debit payment option.
For more information, or to apply online, visit or call 1-877-728-3030 Option 1. 

Suntrust Bank
The Custom Choice Loan® program provides undergraduate and graduate students competitive pricing, a choice of a fixed or variable interest rate, and borrower benefits that encourage degree completion. The application process includes added transparency by displaying, in the same session, an estimated repayment calculation for the actual pricing offered. Pricing is dependent upon credit history and the repayment plan and term selected. Fixed interest rates range from 3.75% to 12.25% (APRs range from 3.751 to 11.356%). Variable interest rates range from LIBOR + 2.00% to LIBOR + 9.61% (APRs range from 2.251% to 9.286%).
To apply for Sun Trust Custom Choice Loan log on at, or contact (866) 232-3889.

Private Loan Marketplace
The Marketplace website presents side-by-side specific loan rates and terms students would see if they had applied at multiple lenders directly. You may pick a preferred private lender and continue to your chosen lenders website to complete the loan process. The Marketplace will pull your credit report in order to instantly simulate the actual terms of loans available to you from local and national lenders - complete with APR, interest rate, total cost, monthly payments, borrower benefits and fees. To apply and review the available lenders visit the Marketplace website.


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The University softball field was modeled after the one in "Field of Dreams."

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