Student Loan Information

Federal Direct Loan Program

Randolph Community College does not participate in the Federal Direct Loan program. If your aid package is not enough to cover your costs and need to pursue private student loans, we encourage you to carefully research the private student loan options available to you.

Private Student Loan Information

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. These loans are usually more costly than federal education loans due to interest rates and repayment terms that are not as advantageous to the borrower.

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. 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 after 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 comparison websites to help students locate and apply for private student loans.

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 Newscalled 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, 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.

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 click this link, then look for the "Loan Forms" dropdown.

Private Student Loan Process

  1. Choose a loan lender. Randolph Community College does not recommend lenders, but we do offer the above comparison websites to help students locate and apply for private student loans.
  2. Complete the College Foundation of North Carolina (CFNC) online Financial Literacy course. Please retain the certificate of completion as it will need to be turned in to the Office of Financial Aid and Veterans Affairs.
  3. Complete the Private Education Loan Applicant Self-Certification form. The Loan Self-Certification is a form for the student to acquire information about their financial aid. The form allows the loan lender and the Financial Aid Office confirmation that the student understands their financial aid.
  4. Complete the application for the loan that you choose.
  5. Turn in the Financial Literacy Certificate & Private Education Loan Applicant Self-Certification Form to the Financial Aid Office. Unfortunately, we can no longer accept forms via email or fax. Please do not email sensitive information. Instead, drop the forms off at the Financial Aid Office or mail them to 629 Industrial Park Avenue, Asheboro, NC 27205, Attn: Financial Aid Office.
The Financial Aid Office at Randolph Community College will contact the student once the school receives notification that the student has submitted a loan application for certification.

Please note that when completing the loan application that the Financial Aid office can only certify loans that are within one academic year. An academic year is considered the fall, spring and summer terms.

If you have questions regarding the process of completing a private student loan, please schedule an appointment with your financial aid counselor.