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, review the handout, Private Student Loans, from College Foundation of North Carolina.  This handout will be helpful during the research and evaluation of private loan options.

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. 

2018 - 2019 academic year: 
Fall 2018 - August 2018 through December 2018
Spring 2019 - January 2019 through May 2019
Summer 2019 - May 2019 through July 2019

2019 - 2020 academic year: 
Fall 2019 - August 2019 through December 2019
Spring 2020 - January 2020 through May 2020
Summer 2020 - May 2020 through July 2020

Private student loan options and comparison:
Private/Alternative Loan Options -

Private Loan Comparison Chart -

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.