Alternative Loans 2009-2010
Beginning fall 2009, Toccoa Falls College will begin participating in the United States Department of Education’s Direct Loan Program. Students attending Toccoa Falls College are first considered for Federal Direct Loans before alternative loans are considered. The college has no role or involvement in applying for or obtaining alternative loans for students. Alternative loans allow students to obtain extra funds and benefits associated with typical student loan options including low interest, repayment after graduation, and low origination fees.
Typically, students consider alternative loans for the following reasons: borrowed the maximum Stafford loan amount for the award year, enrolled for less than 6 hours, parent plus loan denial, unexpected costs, or need additional funds to complete a term or graduate.
Below is a list of established lenders that offer excellent service and competitive borrower benefits for consideration. Toccoa Falls does not endorse any specific provider of loans. Applying for an alternative loan is completely a student’s choice. Good financial credit and often a loan co-signer are required. Typically alternative loans have higher interest rates and origination fees than Federal Stafford Student Loans and often require a minimum payment of interest while in school. Toccoa Falls College cannot vouch for the accuracy of lender information because it is subject to change. It is important that student’s read and understand all the loan regulations, fees, interest rates, benefits, and financial options prior to accepting the loan.
Students are not required to use any of the lenders below. If you wish to borrow from another lender that is not on listed below, please send an email to finaid@tfc.edu and place the words ALTERNATIVE LOAN CHOICE in the subject line of your email.
If you choose a lender from the list below and desire more specific information, we encourage you to access each lender’s website. Once you have decided on a lender, simply click on the “Apply Now!” button that corresponds to that lender. These lenders disburse loan funds electronically to the school. This allows our business office to post your loan funds directly to your student account in a timely manner.
For additional guidance on this or other relate financial aid matters, please contact the Office of Financial Aid at 706-886-7299 ext. 5435.
| LENDER INFORMATION |
BORROWER BENEFITS | WEBSTIE | APPLY NOW |
 Smart Option Student Loan Lender ID: 900905 |
Pricing that rewards good credit Combined billing available for Sallie Mae Service Student Loans 24/7 Account Management 0.25% interest rate reduction for automatic debit and with valid email address |
www.salliemae.com |  |
 Citiassist Private Undergraduate Loan |
Loan Fees as low as 0% Flexible Credit Guidlines that allow students to get the best possible rates. 0.25% Interest Rate Reduction for enrolling in Auto Debit Payment Plan. Variable Rates as low as 5%(4.9% APR) Up to 20 years plus any grace periods of defermetn or forebearance Flexible Repayment Options |
www.studentloan.com | |
 Academic Answer Loan Lender ID: 802560 |
Graduation Reward($300 principle reduction per-loan at graduation) 0.25% Rate Reduction for Automatic Withdraws No upfront fees Competative Interest Rates Defer payment while in school. 6 month grace period Co-signer release available Flexible Repayment Options |
www.suntrusteducation.com | |