Financial Aid

Alternative Loans

Tennessee Technological University has chosen to use FASTChoice to display its historical Alternative Loan Lender List. The lenders and loan options presented were composed of all lenders used by TTU students within the past 2 years.

FASTChoice offers the ability to:

1. Compare and contrast lenders so you can choose the best option for your financial needs

2. A payment calculator tool to help you figure what your future student loan payment may be

3. A glossary tool to help define any loan or financial terms you may not be familiar with

4. A Borrowing Essentials tool to instruct borrowers on the basics of taking out a private

alternative loan and how your lenders determine if you are eligible and approved

5. The ability to apply for a private loan once you have decided which loan is best for you

You can access FASTChoice by clicking on the link below or copying and pasting the URL into your internet browser (*** Due to certain browser requirements you may need to update your current browser).

Tennessee Tech does not endorse or promote any lenders who offer private alternative loans. The University advises that this loan option be used as a last resort after all federal loan options have been exhausted. The interest rate, repayment fees and terms are generally more favorable with Federal Direct Loans. Researching different alternative lenders and their loan products, their benefits as well as exploring other means of financial aid before applying for an alternative loan is to the advantage of the student. We recommend that you use alternative student loans conservatively as the interest rate can be variable.

Each lender uses its own pricing model (1) based on either the LIBOR (London Interbank Offered Rate) or prime rate (as published in the Wall Street Journal) and (2) typically based on the strength of the credit score and history of the student and/or cosigner. Depending upon the lender chosen, interest accrues from the date of disbursement and can be paid while the student is enrolled, or deferred and capitalized at the time of repayment.  All lenders require the completion of a Self-Certification Form.  If your lender has not provided this for you, these forms are also available in the Financial Aid Office.  

**You are free to select any lender you choose, including those not represented. Application processing will not be delayed unnecessarily if you choose a lender not represented here. If you choose a lender that is not represented, contact your lender and request that they send certification requests via ScholarNet. If your lender of choice does not participate in ScholarNet, please have the certification request sent via email to Geneva Phillips ( .

TTU Officials are prohibited from accepting any financial or other benefits in exchange for displaying lenders and loan options in FASTChoice. Prohibited activities include: receiving compensation to serve on any lender board of directors or advisory boards; accepting gifts including trips, meals, and entertainment; allowing lenders to staff our institution’s financial aid office; allowing lenders to place our institution’s name or logo on any of their products; and owning of lenders’ stock (for college officials who make financial decisions for our institution).