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Alternative Lenders

The MLC Financial Aid Office encourages students to consider alternative loans only when their awarded financial aid (Direct, Perkins, scholarships) as well as other sources, such as work and savings, are not sufficient in paying for tuition. The suggested options are:

 

SELF Loan (MN Office of Higher Education loan program available to MLC students)

Wells Fargo Collegiate Alternative Loan

Discover Student Loan

 

To learn more about the benefits and to apply for a SELF Loan, Wells Fargo Collegiate Loan or a Discover Student loan, go to our alternative loan application system FastChoice.

These lenders were selected for their variety of loan options with competitive interest rates. MLC has worked with these lenders in the past, and previous borrowers have had positive experiences working with them.

MLC suggests only those lenders who provide our students with exceptional customer service, incentives, timely processing and electronic funds transfer capabilities when possible.

MLC reviews annually the lenders presented for consideration to ensure the benefits that the lenders offer continue to adhere to MLC’s criteria. Lenders who no longer adhere to these criteria are removed, and new loan options are added. No fewer than two lenders will be presented at all times.

APPLY FOR A SELF LOAN, DISCOVER OR WELLS FARGO ALTERNATIVE LOAN at our FastChoice web site.

Students are free to select any lender they choose, including those not listed here. MLC will not delay application processing unnecessarily if an unlisted lender is selected.