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Admitted to SVSU? To ensure you receive the optimal financial aid package, complete your 2024-25 Free Application for Federal Student Aid (FAFSA). We've compiled some helpful tips and recommendations to assist you in the successful submission of your FAFSA. 

Alternative Loans

If your tuition, housing and other fees are not met with scholarships, grants, federal loans or other aid, you may want to consider an alternative loan (also known as a private educational loan). Each loan may have different eligibility requirements (i.e. academic progress, minimum enrollment, interest rates (fixed vs. variable) and repayment plans).  You should explore the options to find the loan that works best for you. These alternative loans do have certain credit, debt to income ratio, and/or employment requirements. A co-signer may be necessary.

You can research alternative/private loan options on reputable sites, such as

“…College students are cautioned to be suspicious of unsolicited loan offers. Student loan debt can accumulate quickly and result in a lifetime burden of high payments and credit denials for automobile purchases, credit cards, and home mortgages. Private loans also can reduce eligibility for more desirable federal, state and college aid programs. To avoid these problems, read and understand the terms and conditions of all loans. Michigan students are bombarded by media advertisements and mailings about private student loans. The Michigan Student Financial Aid Association (MSFAA) reminds students and families to beware of loan offers you did not initiate. Deceptive marketing tactics are not illegal in the world of private student loans. It is always in a student’s best interest to explore federal loan options before applying for private loans.”

  1. All students should file the Free Application for Federal Student Aid (FAFSA) to determine eligibility for grants, work-study, federal loans, and other desirable forms of student aid.
  2. Students should only consider a private education loan if they have reached their federal loan borrowing limit.
  3. Undergraduate students and parents should compare private loan costs with costs for the Federal PLUS Loan.
  4. Graduate students can borrow under the Federal Graduate PLUS Loan and should compare PLUS costs to private education loan costs before applying for a loan.
  5. Students should research private student loan options at reputable web sites such as


Scholarships & Financial Aid
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(989) 964-4900

Wickes Hall 131A
(989) 964-4900

Wickes Hall 151
(989) 964-4085