Alternative loans provide an additional or alternative source of funding when all other forms of financial aid and scholarships have not met the students cost of attendance.

SFCC Requirements

Before the financial aid office can certify any alternative loan paperwork, the student must apply for financial aid, receive an aid notification letter, and borrow the maximum Ford Direct Loan.

Important information to consider before making application for an Alternative Loan:

• The borrower/student chooses a lender for this loan.
• Alternative loans are not guaranteed funds.
• Co-signer is often required and borrower and/or co-signer credit checks may be required.
• Loan periods should match our regular academic terms (Fall, Winter, Spring). Summer is applied for as a separate loan period.
• Contact your lender directly for all status updates and information.
• Borrowing maximums and minimums, interest rates, and fees vary with each lender and change often. Your credit rating, academic level, and status of co-signer can affect these.
• Going through a lender who sends the money directly to student is best.
• All private loan checks sent directly to SFCC are processed as financial aid is received and are disbursed through the cashiers’ office.
• If check is sent directly to school, use a lender that will not require that school apply the money only toward costs owing ‘on account’ at the school.
• Be advised that if a check is sent directly to SFCC to be applied toward costs owing “on account”, aviation flight lab costs are not “on account”.
• Funds that exceed costs on account cannot be disbursed and will be returned to the lender.

Click to view some lenders that have made loans to SFCC students in the past. Use of lenders on the list is not required. Feel free to choose your own lender.