Financial Aid

Alternative Loans

Alternative loans provide an additional or alternative source of funding. Spokane Falls Community College encourages students to apply for grant, workstudy and Ford Direct Loan assistance prior to alternative loans because the rates and repayment options are normally better.

Important information to consider before making application for an Alternative Loan:

  • The borrower/student chooses a lender for this loan.
  • Alternative loans are not guaranteed funds.
  • Co-signer is often required and borrower and/or co-signer credit checks may be required.
  • Loan periods should match our regular academic terms (Fall, Winter, Spring). Summer is applied for as a separate loan period.
  • Contact your lender directly for all status updates and information.
  • Borrowing maximums and minimums, interest rates, and fees vary with each lender and change often. Your credit rating, academic level, employment status, and status of co-signer can affect these.
  • All private loan checks are disbursed through the Cashiers' Office.

SFCC does not recommend lenders or use preferred lender lists. Choose your lender and complete their application process.

SFCC Title IV Code of Conduct

  • The financial aid office at SFCC will process loans in a timely manner.
  • The financial aid office does not contract with any lender and does not receive any staffing assistance from lenders.
  • Students are advised to borrow loans through the Ford Direct Loan programs. Private loans will not be packaged or offered from any specific lender.
  • Employees in the financial aid office are prohibited from receiving gifts from lenders, guaranty agencies or loan servicers.
  • Spokane Falls Community College does not have revenue sharing arrangements with any lender. Advisory boards will not receive compensation from any lender.

Recent Alternative Loan Lenders that SFCC students have used

  • Wells Fargo (1-866-380-1727)
  • SallieMae (1-877-276-7172)