DANVILLE AREA COMMUNITY COLLEGE
OFFICE OF STUDENT FINANCIAL AID & VETERAN'S EDUCATIONAL BENEFITSAlternative Loans
Alternative loans: commonly referred to as "private loans" or "commercial loans". They are offered by banks and other private lenders to cover the costs of college not covered by financial aid.
Alternative loans are intended for students whose:
Depending on individual circumstances, a parent may also be able to borrow alternative loans to help pay for a child's college expenses.
- student's financial aid doesn't cover the full cost of higher education or,
- student may not be enrolled in a financial aid eligible program or,
- student may not be eligible for financial aid for other reasons.
There are many companies that offer alternative loans. As a wise consumer you should shop around and investigate what lender offers the best loan to meet your needs.
In considering a lender you should look at the interest rates, repayment period, "reward" options, the quality of their customer service and amount eligible to borrow within specific time frames.
All of these considerations will help you find the best loan to meet your educational needs.
A lender who is offering an alternative loan (FASTAlt Solutions) with an apply on-line option is Great Lakes Higher Educational Loan Services, Inc. To access this site click here: Great Lakes Higher Educational Loan Services, Inc.
Another company is TERI.org who offers undergraduate alternative loans with an apply on-line feature. To access this site click here: TERI.org
Danville Area Community College does not sponsor or endorse these companies. This information is provided for your use. This information identifies valid lenders offering alternative student loan programs. As a consumer you should research your options and use your best judgment to choose a lender.