Alternative Loan Information
Alternative educational loans are non-federal loans offered through banks to supplement financial aid awards.
Alternative educational loans are non-federal loans offered through banks to supplement financial aid awards. CVCC is required to certify these loans to ensure that the loan amount does not exceed the cost of attendance less all other financial aid. Most alternative loans are disbursed equally into student accounts according to enrollment plans. If a student decides that an alternative loan is right for them, they may borrow from any lender that they choose. When choosing a lender for an alternative loan, the Office of Scholarships and Financial Aid encourages students to consider the following factors:
- Loan costs (interest rates and fees)
- Borrower benefits and discounts
- Customer service
To apply for a private loan, visit the FASTChoice Private Loan page.
DISCLAIMER: CVCC does not maintain a preferred lender list. The College does not have any agreements or relationships with any lenders and does not receive any benefit, financial or otherwise, from the use of alternative loans by students.
Alternative Loans Self-Certification Form
If a student applies for an alternative loan, the lender is required to obtain a signed Private Education Loan Applicant Self-Certification form from the student. The self-certification form is intended to promote “informed borrowing” by educating borrowers about financial aid availability and encouraging them to seek advice from the financial aid office about other forms of aid before taking out a private education loan.
For assistance with completing the self-certification forms, please contact the Office of Scholarships and Financial Aid.
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