Alternative Education Loans

Some families turn to Alternative Education Loans, also known as Private Education Loans, when federal, state and institutional financial aid is not enough to cover the cost of education.

Alternative education loans cost more than the education loans offered by the federal government, but are less expensive than credit card debt.  These loans typically have variable interest rates and eligibility often depends on the applicant’s credit score.   Current economic conditions have resulted in some lenders refusing to offer alternative education loans to students enrolled in two-year colleges.

CFCC students should investigate all other funding resources before resorting to an alternative loan.

If borrowing this type of loan is unavoidable, please adhere to the following application procedure:

When notified by the lender that the application has been approved, contact Rachel Cavenaugh, Director of Financial Aid, 362-7317, for an appointment to certify the loan


Important Dates

Summer 2018

  • May 20 - Final Registration/Schedule Adjustment Day
  • May 22 - Last day for 75% refund – 10 week session (10% point of semester)
  • May 28 - Holiday – College Closed
  • June 1 - Last day to charge books
  • June 22 - Financial Aid checks mailed (all first mini and first half of full session loans incl.)
  • June 25 - Students may begin charging in the bookstore for 2nd mini session
  • June 26 - Classes begin – 2nd mini session
  • June 27 - Last day for 75% refund – 2nd mini session
  • June 27 - Last day to charge books for 2nd mini session
  • July 4 - Holiday – College Closed
  • July 10 - Financial Aid checks mailed for 2nd disbursement- Summer only Full Session loans
  • July 21 - Financial Aid checks mailed – 2nd mini session (all loan funds incl.)

The 2018-19 Scholarship Application and Award Period will be from July 5, 2018 – May 31, 2019

Related Scholarship Information