While the college hopes that you don’t need to borrow any money while enrolled with us, we do understand that your scholarship and grant aid options may be limited—making borrowing loans a necessity.
The Chattahoochee Financial Aid Office requires that students first apply for financial aid by filing the Free Application for Federal Student Aid (FAFSA) to be considered for any state or federal financial aid eligibility before considering private loan options. We want to ensure that we are best assisting you with grant and scholarship aid before we ever consider loans which must be repaid.
Chattahoochee Technical College does not participate in the federal student loan programs (Direct or Stafford Loans) or in the federal parent (PLUS) loan for undergraduate students’ program. Loans should be used as a last resort to assist with paying for educational related expenses. Students needing loans to finance their education may consider private loan options—sometimes requiring a co-signer.
Private student loans are different from federal student loans in that they are not guaranteed by the federal government, they do require a credit check, and they often require a co-signer. Terms and conditions may vary significantly by lender. Carefully consider your needs, and then select a loan product that best meets your individual situation. The college does not endorse or support any specific lender or loan product. Disclosures are found at the bottom of this information.
Selecting a private/alternative education loan can become an overwhelming task. The link below will provide information to help you make a more informed decision. In addition to being informative, this link will provide a list of just some of the lenders who offer private student loans. We encourage you to research any loans and the lenders to find the best interest rate, repayment terms, etc. to fit your needs and wants. Please be aware that when viewing the private lenders’ online information, you will be leaving the Chattahoochee Technical College web site.
Note: Students may select any lender offering a private student loan from which to borrow. Chattahoochee Technical College does not discriminate against nor endorse specific lenders and will certify loans from any private lender provided the student meets the lender’s eligibility requirements, has completed the FAFSA, etc.
Your lender will notify us of your approved application. After determining your actual eligibility, we will certify your loan for the eligible amount. The private loan process can be lengthy, so you should plan ahead of time if you believe this is the route of funding you wish to pursue. Payment deadlines will be enforced, so you need to ensure your loan application is through the approval process in time to meet those deadlines.
If you choose a loan option that is not listed, please contact the lender directly to determine the application process and next step(s).
Once the loan proceeds are electronically received by CTC, those funds will be used to pay any outstanding charges on your BannerWeb account. If there is a credit balance at that point, you will be refunded. You should ensure you have selected your refund preference with BankMobileVibe so that your refund is not delayed. No loan funds will be disbursed before the start of classes, and refunds will be sent out according to the refund schedule issued by the Student Accounts Office each term.
Loans and the Bookstore:
If your private loan funds and/or other sources of financial aid exceed your direct costs for the semester (tuition and fees), Student Accounts will automatically send loan information to the bookstore. You will need to show a photo I.D. to the bookstore at the time of purchase, and they will be able to see that you have a balance from loans that you can use.
If you using loan funds in the bookstore and later cancel your private student loan, drop your complete schedule prior to the first day of classes, or otherwise lose eligibility, you are immediately responsible for repayment of those funds to the college. This unpaid balance will result in records being on hold and may lead to us turning over your account to a collection agency.
Borrow smart. Tuition and fees may be a small dollar figure compared to the overall costs of attaining a higher education. While students may borrow loans up to the annual cost of attendance (tuition, fees, books, supplies, housing, food, transportation, miscellaneous expenses, etc.), a student is never required to borrow the maximum amount. If you only need funds for tuition and fees, borrow only that amount. Private loans must be repaid, and interest will accrue more quickly than you realize. Students should borrow smart, and borrow only what you need!
Below, you’ll find disclosures for borrowers and/or potential borrowers of private loans. It is very important for you to review this information, so that you’re informed of all stipulations of borrowing should you choose to move forward in the private loan process: