Private/Alternative Educational Loans

Before considering private funding, you should apply for federal loans. If you choose to seek private funding, you might want to look into borrowing from a bank, credit union or other lending institution. These loans are similar to government sponsored loans, but will often require credit checks and/or a creditworthy co-signor.

You will need to contact the lending institution directly to obtain any additional information and to apply for a Private Education Loan. Once you have completed an application with your selected lender, a loan certification will be sent to the Lewis-Clark State College Financial Aid Office. A Self-Certification Form will be provided to the student upon request from the LC State Financial Aid Office.

Loan amounts requested as part of a private educational loan will be split into two disbursements.

Compare Alternative/Private Loan Options with Sparrow

Not sure which lender is best or just exploring your options? Sparrow is a great reference tool! Sparrow is a financial engine designed to assist you. Sparrow will simplify the alternative/private loan selection process. This tool will provide you with the information you need to select the best loan to meet your needs.

Information provided to Sparrow is used to determine your pre-approval for alternative/private loans with a variety of lenders. Sparrow will allow you to compare terms and interest rates as you select your best option.

LC State Student Loan Code of Conduct for Alternative/Private Loans

LC State adheres to and enforces the following Student Loan Code of Conduct for Alternative/Private Loans.

  • LC State receives no revenue, trips, or gifts from any lender in exchange for promoting one lender over another.
  • Borrowers have the right and ability to select any lender of their choice. All students desiring to borrow an alternative/private loan must choose a lender. A lender will never be chosen solely by LC State personnel. Any lender that participates in an alternative/private loan program is allowable, and LC State will never purposely delay the certification or disbursement of the loan.
  • Detailed information about borrower benefits, fees and the sale of loans is provided on each lender's website.
  • LC State is not in a contractual relationship nor is it receiving offers of funding from any lender in the alternative/private loan business.
  • LC State's Financial Aid Office staff does not currently serve on any lending institution's advisory board. When and if any staff does sit on an advisory board, they are prohibited from receiving anything of value for serving.
  • LC State does not and will not allow any lender to identify themselves as employees of Lewis-Clark State College; LC State does not allow employees of lenders to work in or provide staffing for the Financial Aid Office.