Alternative Loans are offered by private for-profit lenders to students for educational purposes.  Before students consider an alternative loan, it is important to understand that federal loans-- Subsidized and Unsubsidized Stafford Loans, and Parent (PLUS) Loans, will always have better interest rates and terms than alternative loans.  The amount of your interest rate will depend upon your credit rating (or that of your co-signer).  If your parent is willing to co-sign the alternative loan for you, they should consider applying for a Parent Loan before doing so due to lower interest rates.  (The student can always make the loan payments on the Parent Loan).  Students may borrow from the lending institution of their choice based on the criteria most relevant and important to their situation.  Kansas Wesleyan University has established an electronic process with Sallie Mae in order to streamline the process for students.