Alternative Loans

All alternative loans, as with other financial aid funds, are first applied directly to your DMACC account to pay charges for tuition and other College-related charges.  If your loan funds exceed the charges on your student account, you will then receive these funds (referred to as a "refund") to pay other educationally related expenses.  Alternative loans will not exceed the cost of attendance at DMACC.  Alternative Loan applicants are required to apply for need-based aid by completing the Free Application for Federal Student Aid (FAFSA).

Sample List of Alternative, Non-Need-Based Loans

The following information compares a few alternative, non-need-based educational loan options.  The programs listed are only a sample of the numerous alternative loan programs available; students should shop around and compare each borrowing option based on their own personal borrowing needs.  Students are free to borrow from any lender they wish and are not limited to those listed here. For help comparing options, see the FinAid website loan analyzer at www.finaid.org/calculators/loananalyzer.phtml.

• Private Student Loan Comparison Chart
• Teri Guaranteed Undergraduate Loan
• Wells Fargo Collegiate® and Education Connection® Loans

The Greentree Gazette student loan buying guide will assist you in finding a private loan lender. As a DMACC student you will not need to find a lender for Federal Stafford Loans because DMACC students secure Federal Loans, including PLUS, from the U.S. Department of Education. The DMACC federal loans are called Federal William D. Ford loans. If you need assistance beyond what the federal government can provide, you may find the private loan listing helpful.
Website: http://slbg.greentreegazette.com/gtree/