Alternative/Private Loans
LBWCC does not participate in the federal student loan program. But occasionally, scholarships, federal and state grants, and personal savings are not enough to cover your educational expenses. In such instances, you may wish to consider an alternative loan. Below you will find information which should help guide you to decide whether an alternative loan is right for you.
What is it?
Alternative loans are non-federal, interest-bearing loans through private lenders. Approval is not guaranteed and the student may need a co-signer with good credit to apply. There are a variety of alternative loans available and it's up to the student and co-signer to decide on the one that it best for them. Lender requirements may vary and students should contact the lender directly for all eligibility requirements.
FASTChoice
LBWCC offers an online loan comparison tool for you to use called FASTChoice. FASTChoice is designed to assist you in making the educational loan choice that is best for you. FASTChoice is not a lender. Please keep in mind that you may select any lender of your choice, even if they do not appear on FASTChoice. Click HERE for more information or to get started.
LBWCC selected these lenders to be on the FASTChoice Lender List for the following reasons:Competitive borrower rates and terms
- Loans are offered to community college students
- Funds are sent electronically (EFT) when possible
- Easy online application process
- Longevity and stability in private loan lending
LBWCC and its staff do not endorse or accept any incentives, financial or otherwise, from the lenders listed on FASTChoice. Lender information is provided as a courtesy and in no way should it be interpreted as a requirement to use one of the listed lenders. LBWCC will process loans from any lender that participates in any educational loan programs.
CERTIFICATION OF LOANS:
All private student loans are certified through Scholarnet web portal once the student has registered for classes. Tuition and Fees must be paid in full before a refund to the student will be made.
