Student loans are educational funds that must be repaid with interest. Student loans should be considered after all other forms of financial assistance have been exhausted.
Shawnee Community College is no longer participating in the Federal Direct Student Loan program. Students needing loan funds should apply for a Private Alternative Student Loan.
Private Alternative Loans
What they are:
Private educational loans offered by banks, credit unions, and other private lenders to help cover educational expenses.
Who they’re for:
Students who need additional funding after other financial aid has been considered. Eligibility and loan amounts are determined by the lender and may require a credit check or cosigner.
Before You Apply
Compare lenders carefully and consider:
- Interest rates (fixed or variable)
- Loan fees
- Repayment options
- Deferment options
- Cosigner requirements
- Borrow only what you need
Shawnee Community College does not recommend or endorse any lender and does not receive incentives from lenders. Students are encouraged to compare loan options to find the one that best meets their needs.
Before You Borrow
Private loans generally have higher interest rates and less favorable repayment terms than federal financial aid. Explore grants, scholarships, payment plans, and employment opportunities before applying for a private loan.
Learn More: ELMSelect Private Alternative Loans