Please note that beginning with the 2014-15 academic year (Fall 2014), Haywood Community College will no longer participate in the William D Ford Direct Loan Program. If you have any questions please contact the financial aid department.

Alternative/Private Loans

The Financial Aid Office at Haywood Community College (HCC) works with many sources of alternative or private loans to help provide additional funding to students at the college. HCC does not endorse the use of any particular alternative loan program, but rather encourages students to thoroughly review the programs available and to select the program that best meets their personal needs.

General Considerations

  • Alternative or private loans are credit-based and students are NOT guaranteed to receive them.
  • In order to understand the credit-scoring system used by the lender to determine your eligibility we suggest that you review the information contained on
  • Under lender defined circumstances, some students may also be asked to have a co-signor or co-maker.

When determining which loan is best for you, obtain the following information from the lender(s) you are considering:

  • What are the current qualifications criteria, including credit score, a borrower (you) and/or a co-signor or co-maker must meet?
  • What is the current interest rate and fees (origination or repayment) associated with the loan: Remember, fees can negate differences in interest rate. Interest rates and terms may vary with each lender.
  • What are the standard and/or consolidated repayment terms available to borrowers? (Fixed or variable rate and maximum repayment period).
  • You should also ask any other questions to fully understand your responsibilities under the loan.

Selecting a Lender

Recent media attention has been directed to practices used by some U.S. colleges and universities in providing students with a “preferred lender list” for student loans. The practice has given rise to questions about possible conflicts of interest at some schools.

Haywood Community College (HCC) does not have a preferred lender list and does not engage in any of the practices that have come to light at very few institutions across the country. HCC has no representatives from student loan organizations on campus or appearing to represent HCC in any way. Neither do HCC staff members receive any funding or incentives whatsoever from lenders providing student loans.

It is HCC’s policy to process alternative loans from any lender the student selects. HCC students have a choice in the selection of lenders. This policy is consistent with federal regulations. For assistance in selecting an alternative or private student loan lender, please visit

Student Loan Buying Guide

The Greentree Gazette publishes a “buying guide” several times a year to maintain updated information on the student loan programs. The guide highlights borrower benefits offered by different lenders as well as trends in the student loan industry. Look for “Private” loans.

List of Private Student Loan Providers “FinAid! The Smart Student Guide to Financial Aid” has compiled a list of private lenders based on lender literature and a survey of rates charged to actual students.

The above web sites are provided solely to assist students in the selection of a lender. The above list does not constitute endorsement or recommendation by HCC.

Guidelines for Alternative/Private Loan Recipients

  1. Students are encouraged to complete a Free Application for Federal Student Aid (FAFSA) and list Haywood Community College as one of the colleges to receive a copy.
  2. Student will decide which lender best meets his/her needs by researching financial lending institutions of their choice. (See Web sites under Selecting a Lender)
  3. The Financial Aid Office (FAO) will certify alternative/private loans.
  4. Student notify the FAO when he/she applies for a private loan.
  5. The loan amount cannot exceed the Cost of Attendance (COA).  Contact the FAO for COA figures.
  6. Unless indicated otherwise, the loan will be disbursed over two terms.
  7. Student must be registered for classes at time of disbursement.

Tuition and fees must be paid no later than 6 p.m. on the day before classes begin each semester.

Student who pick up loan checks and fail to pay tuition and fees are not enrolled. This information will be provided to the lender and the student will be notified about repayment based on school’s receipt of check from lender.

For additional information or if you have questions, please contact the HCC Financial Aid Office at (828) 627-4756 or email at