ALTERNATIVE LOANS
As higher education costs continue to rise, many college students find that they need to look beyond traditional financial aid. We hope this information on private/alternative loans will help you make decisions about funding your education. In this section, you'll find specific information about private loan programs and some key things you should consider before borrowing.
Things to think about:
· Before considering a private loan, make sure you've applied for any financial aid you might be eligible to receive:
- Talk to the financial aid staff at your school.
- Research scholarship possibilities. If you need help with the application process, ask for help from the financial aid office. A good place to start is www.fastweb.com — a free scholarship search Web site.
- Explore all other financing options including work-study programs, scholarships and grants, and federal Stafford, Perkins and PLUS Loans.
- Before borrowing, check with your financial aid office to determine how a private loan affects your aid eligibility. These loans usually count as a part of your financial aid package and can reduce your eligibility for other aid.
Listed below are the lenders that Big Bend Community College participates with for the Alternative loans. You need to access the website for the lender you are interested in to evaluate their benefits. Once you find the lender you wish to borrow from, complete the loan application per the instructions on the bank website.
Bank of America
Key Bank
Nellie Mae
US Bank
Wachovia Education Finance
Washington First
Wells Fargo