alternative private loans
As of February 14, 2010, students are required to provide any private loan lender with a signed loan Self-Certification Form. The financial aid information needed to complete the form, (the student's cost of attendance and total amount of financial assistance) can be found at the bottom of the second page of the student's financial aid award letter. A calculation of the Cost of Attendance less Estimated Financial Assistance is provided.
At the present time, there are three lenders that provide private loans to our students. They are: PNC Solution Loan for Health Professions at www.pnconcampus.com, Smart Options at www.salliemae.com, or SunTrust Choice Loan at www.suntrusteducation.com\customchoice.
The Office of Financial Aid is willing to work with any lender the borrower selects as long as they will agree to provide loan services to our students.
How to Apply for an Alternative "Private" Loan
If you are interested in applying for an Alternative “Private” Loan, you will need to complete the following steps:
- Choose your lender and complete the application process online.
- E-mail the Office of Financial Aid at financial-aid@bsmcon.edu with the date you applied for the loan, the lender, and the amount requested.
- Ensure that you enroll for, attend, and maintain at least six credit hours to maintain loan eligibility. You must stay active in at least six credit hours each semester. If you withdraw or drop below half-time status, your Alternative “Private” Loan will be canceled.
- Finally, allow four to six weeks for College processing, depending on the time of the year.
