Home Financial Aid Office Private/Alternative Loans

Private/Alternative Loans

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. Before applying for a private loan, we strongly encourage students to consider and apply for other forms of financial aid, including VGCC scholarships. The private 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, which must be repaid, from any lender the student chooses. Students should carefully read each lender’s information about eligibility criteria, interest rates, fees, repayment terms, cosigner requirements, and loan terms. Most lenders require a good credit rating and may also require a co-signer. VGCC does not endorse any lender and is not responsible for the timeliness of private loans. For further private loan information, visit the College Foundation of North Carolina’s information about student loans (link is https://www.cfnc.org/pay-for-college/student-loans/ ) Please note that VGCC does not offer federal loans.  

Self-Certification Form

Private lenders are required to obtain a self-certification signed by the applicant before disbursing a private education loan. The Financial Aid Office will provide, upon request, a Private Education Loan Applicant Self-Certification form to students admitted or enrolled at VGCC. Students may request the Self-Certification form in writing or through their VGCC email account.  In addition, the form is available for students to print (see link below), complete and submit to the Financial Aid Office.  After the form is completed, it will be returned to the student.  It is then the student’s responsibility to return the form to his/her chosen lender.

Private Education Loan Applicant Self-Certification Form


Academic Year

Students should apply for private loans one school year at a time.  School years are based on the academic year calendar.

2022 – 2023 academic year:
Fall 2022 – August 2022 through December 2022
Spring 2023 – January 2023 through May 2023
Summer 2023 – May 2023 through July 2023

Private student loan options and comparison:

Private Loan Comparison Chart – http://www.finaid.org/loans/privatestudentloans.phtml 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.