What Are Alternative Loans?

Private Loans are offered by private lending institutions and are not guaranteed by the federal government.  These funds are available to credit and non-credit students who may not be eligible for federal financial aid or who may need to bridge the gap between the actual cost of education and their federal financial aid.  The lender will interpret credit history and other determining factors to see the student is eligible.  Some may require that you obtain a cosigner before approving your loan.  

	COCC encourages students to exhaust all other financial resources such as grants and student loans by applying for the Free Application for Federal Student Aid.  Scholarships may also be an alternative resource before deciding to apply for Alternative Loans. Apply for an Alternative Loan

To assure that you are eligible for an private loan, it is advisable that you contact the Financial Aid Office prior to contacting a lender.  The Financial Aid Office can help to determine the amount of a private loan that you could be eligible to receive.  Please contact the them at 541-383-7260.