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FAQs: Additional Questions

19)

I have questions about the Hope Scholarship and Lifetime Learning Credit benefits?

For more information regarding the Hope Credit, the Lifetime Learning Credit, and other tax benefits for postsecondary students, see the Internal Revenue Service's Tax Incentives for Higher Education Expenses

20)

What if I have other questions about my financial aid?

Financial Aid staff are available to answer questions via telephone at 909.469.5353, Monday, from 7:30 a.m. until 9 a.m. and noon to 5 p.m.; and Tuesday through Friday, 7:30 a.m. to 5 p.m. or via email at finaid@westernu.edu.

21)

Is an Alternative Loan For Me?

Alternative loans are distributed by private lenders. These lenders include banks, credit unions and private lending companies (not loans from the government).

22)

Why would I want to get an alternative Loan?

An alternative loan may provide enough funds to enable you to attend and pay for the college of your choice. However, alternative loans frequently have a higher interest rate, so you may want to consider this option only after exhausting all other financial aid options such as government loans and scholarships.

23)

What's the difference between Federal and alternative loans?

Almost all alternative loans are going to have a higher interest rate than any government loan. Alternative loans may offer more flexibility in terms of when you repay.

24)

How do I repay?

Each repayment plan has its own terms, and it's important to research the options of each prospective plan. In addition to your monthly payments, you may have to pay a guarantee fee.

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Last Updated:01/09/2008