Private student loans are often used to help bridge the gap between a student's cost of attendance and the amount of federal, state and institutional financial aid that a student is awarded. These loans are credit-based loans that are offered by private lenders and often require a good credit history and/or a co-signer with a good credit history.

Randolph Community College strongly encourages all students to complete the FAFSA and apply for federal and state programs before applying for a private student loan. Federal loans (Direct and PLUS) should always be the first option to consider when borrowing money to finance an education. If you are considering a private student loan, you should carefully evaluate each loan program to determine if it best meets your needs.

If you are planning to file a FAFSA it is best to wait to apply for a private student loan until you receive your financial aid award from Randolph Community College so you can see what financial aid you may be qualified for.

Randolph Community College does not recommend lenders, but we do offer the following comparision charts to help students locate and apply for private student loans.

Student Loan Information and Comparison Charts

FinAid.org - http://www.finaid.org/loans/privatestudentloans.phtml

FinAid was established in the fall of 1994 as a public service. This award-winning site has grown into the most comprehensive source of student financial aid information, advice and tools -- on or off the web. FinAid has earned a stellar reputation in the educational community as the best Web site of its kind. It's comprehensive, it's informative, it's objective -- and it's the first stop on the Web for students looking for ways to finance their education.

Every major newspaper and personal finance magazine in the country has reviewed the site. The New York Daily News called FinAid "the hottest site on the Internet for financial aid tips." It is "the best place to begin a search" according to the Chicago Sun-Times, and "the grand-daddy of all Web sites" according to the Boston Globe. Yahoo Internet Life said to "make FinAid your first stop. This site offers some of the best 'how to' guidance on securing financial aid."

The site has won awards from the College Board, the National Association of Student Financial Aid Administrators, the National Association of Graduate and Professional Students, and the American Institute for Public Service.

Student Lending Analytics - http://www.studentlendinganalytics.com/ratings.html

Student Lending Analytics, LLC is a privately funded, California-based limited liability company. SLA is not affiliated with any bank, lender or other financial service firm serving the student lending marketplace. Our team is committed to the opportunities that education provides. As a symbol of their commitment to higher education, 10% of Student Lending Analytics' annual profits are donated to Eastside Preparatory School, a school in East Palo Alto, Calif., dedicated to opening new doors for students historically underrepresented in higher education.

Private Education Loan Form

Pursuant to Section 155 of the Higher Education Act of 1965, as amended, (HEA) and to satisfy the requirements of Section 128(e)(3) of the Truth in Lending Act, a lender must obtain a self-certification signed by the applicant before disbursing a private education loan. Each school is required on request to provide this form or the required information only for students admitted or enrolled at the school. Throughout this Applicant Self-Certification, "you" and "your" refer to the applicant who is applying for the loan. The applicant and the student may be the same person. To obtain this form, please look under the "Student Loan Forms" section of the Important Forms page.