{"id":1351,"date":"2024-07-01T11:38:32","date_gmt":"2024-07-01T15:38:32","guid":{"rendered":"https:\/\/www.rccc.edu\/financialaid\/?page_id=1351"},"modified":"2026-07-14T10:46:21","modified_gmt":"2026-07-14T14:46:21","slug":"private-loans","status":"publish","type":"page","link":"https:\/\/www.rccc.edu\/financialaid\/private-loans\/","title":{"rendered":"Private Loans"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; fullwidth=&#8221;on&#8221; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_fullwidth_slider show_arrows=&#8221;off&#8221; show_pagination=&#8221;off&#8221; admin_label=&#8221;Fullwidth Slider&#8221; _builder_version=&#8221;4.27.4&#8243; header_level=&#8221;h1&#8243; header_font_size=&#8221;46px&#8221; body_font=&#8221;|600|||||||&#8221; body_font_size=&#8221;18px&#8221; custom_padding=&#8221;|||&#8221; box_shadow_style=&#8221;preset6&#8243; box_shadow_blur=&#8221;10px&#8221; box_shadow_color=&#8221;rgba(0,0,0,0.1)&#8221; show_inner_shadow=&#8221;on&#8221; global_module=&#8221;2557&#8243; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; button_text_size__hover_enabled=&#8221;off&#8221; button_one_text_size__hover_enabled=&#8221;off&#8221; button_two_text_size__hover_enabled=&#8221;off&#8221; button_text_color__hover_enabled=&#8221;off&#8221; button_one_text_color__hover_enabled=&#8221;off&#8221; button_two_text_color__hover_enabled=&#8221;off&#8221; button_border_width__hover_enabled=&#8221;off&#8221; button_one_border_width__hover_enabled=&#8221;off&#8221; button_two_border_width__hover_enabled=&#8221;off&#8221; button_border_color__hover_enabled=&#8221;off&#8221; button_one_border_color__hover_enabled=&#8221;off&#8221; button_two_border_color__hover_enabled=&#8221;off&#8221; button_border_radius__hover_enabled=&#8221;off&#8221; button_one_border_radius__hover_enabled=&#8221;off&#8221; button_two_border_radius__hover_enabled=&#8221;off&#8221; button_letter_spacing__hover_enabled=&#8221;on&#8221; button_one_letter_spacing__hover_enabled=&#8221;off&#8221; 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sticky_transition=&#8221;on&#8221; locked=&#8221;off&#8221;]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50Ijoic2l0ZV90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IiIsImFmdGVyIjoiIn19@[\/et_pb_slide][\/et_pb_fullwidth_slider][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;40px|||&#8221; transparent_background=&#8221;off&#8221; make_fullwidth=&#8221;off&#8221; use_custom_width=&#8221;off&#8221; width_unit=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row column_structure=&#8221;1_3,2_3&#8243; _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; custom_padding=&#8221;0px|||&#8221; make_fullwidth=&#8221;off&#8221; use_custom_width=&#8221;off&#8221; width_unit=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_toggle title=&#8221;Financial Aid&#8221; open=&#8221;on&#8221; open_toggle_text_color=&#8221;#ffffff&#8221; open_toggle_background_color=&#8221;#002f6d&#8221; closed_toggle_text_color=&#8221;#ffffff&#8221; closed_toggle_background_color=&#8221;#002f6d&#8221; icon_color=&#8221;#ffffff&#8221; open_icon_color=&#8221;#ffffff&#8221; admin_label=&#8221;Financial Aid&#8221; _builder_version=&#8221;4.27.4&#8243; title_text_color=&#8221;#ffffff&#8221; title_font=&#8221;|on|||&#8221; title_font_size=&#8221;14&#8243; body_text_color=&#8221;#ffffff&#8221; body_font_size=&#8221;13&#8243; body_line_height=&#8221;1em&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; border_style=&#8221;solid&#8221; global_module=&#8221;2604&#8243; saved_tabs=&#8221;all&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><a href=\"\/financialaid\/about-financial-aid\/\">About Financial Aid<\/a><\/p>\n<p><a href=\"https:\/\/www.rccc.edu\/financialaid\/important-dates\/\">Important Dates<\/a><\/p>\n<p><a href=\"\/financialaid\/financial-aid-forms\/\">Forms<\/a><\/p>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;Financial Aid Essentials&#8221; open_toggle_text_color=&#8221;#ffffff&#8221; open_toggle_background_color=&#8221;#002f6d&#8221; closed_toggle_text_color=&#8221;#ffffff&#8221; closed_toggle_background_color=&#8221;#002f6d&#8221; icon_color=&#8221;#ffffff&#8221; open_icon_color=&#8221;#ffffff&#8221; admin_label=&#8221;FA Essentials&#8221; _builder_version=&#8221;4.27.4&#8243; title_text_color=&#8221;#ffffff&#8221; title_font=&#8221;|on|||&#8221; title_font_size=&#8221;14&#8243; body_text_color=&#8221;#ffffff&#8221; body_font_size=&#8221;13&#8243; body_line_height=&#8221;1em&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; use_border_color=&#8221;off&#8221; global_module=&#8221;2047&#8243; saved_tabs=&#8221;all&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><a href=\"\/financialaid\/financial-aid-facts\/\">Financial Aid Facts<\/a><\/p>\n<p><a href=\"\/financialaid\/types-of-financial-aid\/\">Types of Financial Aid<\/a><\/p>\n<p><a href=\"\/financialaid\/terms-conditions-of-receiving-financial-aid\/\">Terms &amp; Conditions of Receiving Financial Aid<\/a><\/p>\n<p><a href=\"https:\/\/www.rccc.edu\/recordsregistration\/tuition-and-fees\/\">Tuition &amp; Fees<\/a><\/p>\n<p><a href=\"\/financialaid\/net-price-calculator\/\">Net Price Calculator<\/a><\/p>\n<p>Frequently Asked Questions<\/p>\n<ul>\n<li><a href=\"\/financialaid\/financial-aid-faqs\/\">Financial Aid<\/a><\/li>\n<li><a href=\"\/financialaid\/bankmobile-faqs\/\">BankMobile<\/a><\/li>\n<li><a href=\"\/financialaid\/after-receiving-financial-aid-faqs\/\">After Receiving Financial Aid<\/a><\/li>\n<\/ul>\n<p><a href=\"\/financialaid\/online-financial-aid-resources\/\">Online Financial Aid Resources<\/a><\/p>\n<p><a href=\"https:\/\/www.rccc.edu\/financialaid\/student-loan-repayment-resources\/\">Student Loan Repayment Resources<\/a><\/p>\n<p><a href=\"\/president\/consumer-information\/\">Consumer Information<\/a><\/p>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;Veterans Affairs&#8221; open=&#8221;on&#8221; open_toggle_text_color=&#8221;#ffffff&#8221; open_toggle_background_color=&#8221;#002f6d&#8221; closed_toggle_text_color=&#8221;#ffffff&#8221; closed_toggle_background_color=&#8221;#002f6d&#8221; icon_color=&#8221;#ffffff&#8221; open_icon_color=&#8221;#ffffff&#8221; admin_label=&#8221;Veterans Affairs&#8221; _builder_version=&#8221;4.27.4&#8243; title_text_color=&#8221;#ffffff&#8221; title_font=&#8221;|on|||&#8221; title_font_size=&#8221;14&#8243; body_text_color=&#8221;#ffffff&#8221; body_font_size=&#8221;13&#8243; body_line_height=&#8221;1em&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; use_border_color=&#8221;off&#8221; border_color=&#8221;#ffffff&#8221; border_style=&#8221;solid&#8221; global_module=&#8221;2565&#8243; saved_tabs=&#8221;all&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><a href=\"https:\/\/www.rccc.edu\/financialaid\/va-application-procedures\/\">Application Procedures for VA Benefits<\/a><\/p>\n<p><a href=\"\/financialaid\/veteran-education-benefits-eligibility\/\">Veteran Education Benefits &amp; Eligibility<\/a><\/p>\n<p><a href=\"https:\/\/www.rccc.edu\/financialaid\/va-important-information\/\">Important Information<\/a><\/p>\n<p><a href=\"\/financialaid\/va-benefits-frequently-asked-questions\/\">VA Benefits Frequently Asked Questions<\/a><\/p>\n<p><a href=\"https:\/\/www.rccc.edu\/financialaid\/veterans-resources\/\">Veterans Resources<\/a><\/p>\n<p><a href=\"https:\/\/www.rccc.edu\/financialaid\/va-principles-of-excellence\/\">Principles of Excellence<\/a><\/p>\n<p><a href=\"https:\/\/www.rccc.edu\/financialaid\/va-cost-of-attendance\/\">Cost of Attendance<\/a><\/p>\n<p>[\/et_pb_toggle][et_pb_button button_url=&#8221;https:\/\/www.rccc.edu\/financialaid\/how-to-apply-for-financial-aid\/&#8221; button_text=&#8221;How to Apply for Financial Aid&#8221; button_alignment=&#8221;center&#8221; admin_label=&#8221;How to Apply&#8221; _builder_version=&#8221;4.27.4&#8243; custom_button=&#8221;on&#8221; button_text_size=&#8221;15px&#8221; button_text_color=&#8221;#ffffff&#8221; button_bg_color=&#8221;#002f6d&#8221; button_border_color=&#8221;#002f6d&#8221; button_use_icon=&#8221;off&#8221; button_text_color_hover=&#8221;#f6a800&#8243; button_border_color_hover=&#8221;#002f6d&#8221; button_bg_color_hover=&#8221;#002f6d&#8221; global_module=&#8221;2602&#8243; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; button_text_size__hover_enabled=&#8221;off&#8221; button_one_text_size__hover_enabled=&#8221;off&#8221; button_two_text_size__hover_enabled=&#8221;off&#8221; button_text_color__hover_enabled=&#8221;on|hover&#8221; button_text_color__hover=&#8221;#f6a800&#8243; button_one_text_color__hover_enabled=&#8221;off&#8221; button_two_text_color__hover_enabled=&#8221;off&#8221; button_border_width__hover_enabled=&#8221;off&#8221; button_one_border_width__hover_enabled=&#8221;off&#8221; button_two_border_width__hover_enabled=&#8221;off&#8221; button_border_color__hover_enabled=&#8221;on&#8221; button_border_color__hover=&#8221;#002f6d&#8221; button_one_border_color__hover_enabled=&#8221;off&#8221; button_two_border_color__hover_enabled=&#8221;off&#8221; button_border_radius__hover_enabled=&#8221;off&#8221; button_one_border_radius__hover_enabled=&#8221;off&#8221; button_two_border_radius__hover_enabled=&#8221;off&#8221; button_letter_spacing__hover_enabled=&#8221;off&#8221; button_one_letter_spacing__hover_enabled=&#8221;off&#8221; button_two_letter_spacing__hover_enabled=&#8221;off&#8221; button_bg_color__hover_enabled=&#8221;on&#8221; button_bg_color__hover=&#8221;#002f6d&#8221; button_one_bg_color__hover_enabled=&#8221;off&#8221; button_two_bg_color__hover_enabled=&#8221;off&#8221;][\/et_pb_button][\/et_pb_column][et_pb_column type=&#8221;2_3&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.27.7&#8243; header_line_height=&#8221;1.5em&#8221; header_2_line_height=&#8221;1.4em&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; module_alignment=&#8221;left&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<h2>What is a Private Loan?<\/h2>\n<p>Private loans are educational loans that are placed in the student&#8217;s name, to help bridge the gap between the actual cost of your education and the amount the government allows you to borrow in its programs. Private loans are offered by private lenders and there are no federal forms to complete. Eligibility for private student loans often depends on your credit score.<\/p>\n<h2>How to Apply for a Private Loan<\/h2>\n<p>Students will need to apply directly with the lender of their choice. Some students will be required to have someone co-sign the loan application. Interest rates for loans are determined by the lender and are based on the student and co-signer\u2019s credit worthiness.<\/p>\n<p>You may choose any lender of your choice. For your convenience, we offer the <a href=\"https:\/\/www.elmselect.com\/v4\/\">ELMSelect website<\/a> where you can view, compare, and apply from a list of lenders offering loans. Simply enter &#8216;Rowan-Cabarrus Community College&#8217; in the school search to begin the process.<\/p>\n<p>If a student chooses to apply for a private loan, a student must:<\/p>\n<ul>\n<li>have a valid FAFSA on file<\/li>\n<li>be enrolled in at least 6 credit hours<\/li>\n<li>meeting all Satisfactory Academic Progress guidelines set by lender<\/li>\n<li>Return the complete loan request form to the Financial Aid Office\n<ul>\n<li><a href=\"https:\/\/www.rccc.edu\/wp-content\/uploads\/2026\/07\/Private-Loan-request-form-26-27.pdf\" rel=\"attachment wp-att-2811\">2026-2027<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><em>If a student is registered for a minimester class and does not meet the credit hour requirement until the beginning of that term, funds will not be available for use until classes begin.<\/em><\/p>\n<p><em>Private loan refunds will be released after a student has reached the 10% point and enrolled in at least 6 credit hours. Please allow up to six to eight weeks for processing.<\/em><\/p>\n<p><em>A student has the right to cancel his loan up to the 10% point of the semester. Any charges incurred with the school are the student\u2019s responsibility. This includes tuition, fees, books, and any other applicable charges. When a student applies for a private education loan, it is typically awarded half for the Fall semester and half for the Spring semester. Other disbursement arrangements can be made by contacting the Financial Aid Office.<\/em><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>About Financial Aid Important Dates Forms Financial Aid Facts Types of Financial Aid Terms &amp; Conditions of Receiving Financial Aid Tuition &amp; Fees Net Price Calculator Frequently Asked Questions Financial [&hellip;]<\/p>\n","protected":false},"author":118,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-1351","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.rccc.edu\/financialaid\/wp-json\/wp\/v2\/pages\/1351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rccc.edu\/financialaid\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.rccc.edu\/financialaid\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.rccc.edu\/financialaid\/wp-json\/wp\/v2\/users\/118"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rccc.edu\/financialaid\/wp-json\/wp\/v2\/comments?post=1351"}],"version-history":[{"count":20,"href":"https:\/\/www.rccc.edu\/financialaid\/wp-json\/wp\/v2\/pages\/1351\/revisions"}],"predecessor-version":[{"id":3266,"href":"https:\/\/www.rccc.edu\/financialaid\/wp-json\/wp\/v2\/pages\/1351\/revisions\/3266"}],"wp:attachment":[{"href":"https:\/\/www.rccc.edu\/financialaid\/wp-json\/wp\/v2\/media?parent=1351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}