Alternative Loans and Financing
In addition to federal and university loans there are also other alternative loans and financing options to consider.
Cornell Installment Plan
The Cornell Installment Plan (CIP), also known as the Full-Service Payment Plan, administered by Blackboard/Cashnet, enables students and their families to make monthly installments to cover each semester's tuition and expenses. Learn more about the Cornell Installment Plan
Private lenders can also provide student and parent loans to help cover education expenses. Cornell cannot recommend any particular lender, but encourages you to compare lenders and loan terms to select the lender that best fits your needs. Students are responsible for researching and applying for their alternative loan. You may borrow up to the total cost of attendance less any financial aid. To get you started, we've put together a few important questions to ask potential lenders and determining your loan period:
If you choose a fall/spring loan term period, the amount of the loan will be split equally between the two semesters; so the disbursement of a $10,000 fall/spring loan would be $5,000 for the fall semester and $5,000 for the spring semester. Once the loan is certified, the loan period cannot be changed to fall only. If you need more loan assistance, you will need to apply for an additional loan.
Students who applied for a fall only loan to cover fall expenses, should choose a spring only loan when applying for a loan to cover spring expenses. The Spring application will be available to you in mid to late November.
|Fall/Spring||August - May|
|Fall only||August - December|
|Spring only||January - May|
|Summer only||May - August|
Loan Terms Questions
Historical Lending List
Below are lenders that Cornell undergraduates have used in the past. The contact information is provided as a service and not as an endorsement of the lender. You may choose one of these or any other lender of your choice. We recommend you apply with a qualified co-signer to assist with approval and potentially qualify for a lower interest rate.
Student Private Alternative Loan Lenders
- Citizens Bank
- College Ave
- Connecticut Higher Education Supplemental Loan (CHESLA)
- Credit Union Student Choice
- EDvestinU/New Hampshire Higher Education Loan Corporation
- Massachusetts Educational Financing Authority (MEFA)
- MPOWER Financing
- New Jersey Class
- Prodigy Finance
- Rhode Island Student Loan Authority (RISLA)
- Sallie Mae
- Vermont Student Assistance Corporation (VSAC)
- Wells Fargo
Parent Private Alternative Loan Lenders
Learn about the advantages of taking federal student loans over private, non-federal loans.