Alternative Loans

RVU students may borrow loan funds from any lender they choose. Most lenders offering Alternative Loans require a satisfactory credit history and will perform some type of credit check before they will offer you a loan. Some lenders may require a cosigner, especially if your credit history is a concern.

Each lender will set the interest rate, maximum amount you may borrow and other loan terms for their own Alternative Loan Program.  Most of these loans come with a variable interest rate and will require “certification” from the RVU Office of Financial Aid. This means that we will be responsible for verifying your Cost of Attendance and enrollment status before the lender will disburse any funds to you.

Several national and local lenders are currently working on loan proposals to assist Rocky Vista University students. The Sallie Mae Medical School Loan Program for Rocky Vista University students will be available for our students to apply online beginning in mid March.

Typically Alternative Loan funds are sent to your school at the start of each semester. Any funds we receive on your behalf will be applied to your student account. After your institutional charges are paid in full, any remaining loan proceeds will be refunded to you. Student loan refund checks will be available no later than fourteen days after the date the credit balance occurred.

Students apply directly to a lender for an Alternative Loan. You may request the amount of funds you need but in no case may your loan exceed the Cost of Attendance minus any other financial aid or resources you receive. We encourage you to prepare your own budget, using our Cost of Attendance as a guideline, and not apply for more loan funds than you need.

Please be sure that your lender provides the RVU Office of Financial Aid with the necessary information in order to process your loan in a timely manner. The RVU Office of Financial Aid will certify your loan when requested to do so by your lender.