Private Supplemental/Alternative Loan – You may need additional funding for school and opt to apply for funding through a private lending agency. Always remember to borrow federal financial aid first! Private/Alternative loans can have a higher interest rate and a credit check must be done on all applicants. Oregon State University cannot recommend private lenders, but we have provided additional information on questions to ask and things to consider in our Alternative Loans publication. Our best advice is for you to explore options with a lender you may already do business with and feel comfortable using. We also recommend doing your research before signing on the dotted line to be sure that you will not be in for any surprises later. The Federal Student Aid website provides some additional information on how to avoid deceptive offers. The article can be found in its entirety here.