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Loans

  A.) Vance-Granville Community College does not participate in any Federal Loan programs including the Stafford or Perkins
         Loans.

         Students may request a deferment or forbearance on their loans from previously attended colleges while currently
         attending VGCC. 

  1. A deferment is a period in which repayment of the principal balance is postponed. During a deferment, if the loan is subsidized, the government pays the interest charged. For Direct Unsubsidized, PLUS, Unsubsidized Consolidation, and PLUS Consolidation Loans in deferment, you are responsible for the interest that accrues during the deferment period. If you have unsubsidized loans, when you re-enter repayment at the end of the deferment period, any unpaid interest capitalizes (is added to the principal balance).

  2. A forbearance is an arrangement to postpone or reduce your monthly payment amount for a limited and specific period during which you are charged interest. If you indicate a temporary inability, but willingness to pay the loan(s), you may ask for or be offered a forbearance. For all Direct Loans, interest that accrues during a forbearance is the responsibility of the borrower. When you re-enter repayment at the end of the forbearance period, any unpaid interest capitalizes (is added to the principal balance).

  3. Do not stop making payments prior to the lenders deferment or forbearance approval.

  4. All deferment form requests must be sent to the Registrar's Office.


B.) Private Loans:

Private Lender* / Alternative Loans are also available.

*Note:  Students should contact their lender to arrange deferments or forbearances. 

Alternative Loan Information

Loan disclaimer

Vance-Granville Community College's Financial Aid Office provides information for students, prospective students, and parents to help make informed choices about their financial aid options. The student loan information provided is a guideline only to assist students. Our website can help assist with the financial aid process and should be used as a tool. Many private lenders offer alternative loans; however, the choice of which lender to borrow from is a decision the student must make. Our office will certify an alternative loan from any lender the student chooses. Some of the lenders students have chosen in the past are listed within this website. Please remember that Vance-Granville Community College does not endorse any lender.

This information is subject to change due to changes in federal or state regulations, college policy, financial aid office procedures, or budgeting by any agency supplying financial aid funding. If you discover discrepancies with regard to other sources of information (federal publications, college publications, etc.), please notify the Financial Aid Office at (252) 738-3280.

For more loan information contact: Tonya J. Owen, Financial Aid Assistant.

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