Financial Aid

Private Student Loans

Butte College certifies private loans through ELM SELECT: Please read this page before clicking on the link below.

Access ELM Select

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What are Private Student Loans?

Private student loans are loans that a student applies for with a private lender. Private loans are subject to credit qualifications, completion of a loan application/consumer credit agreement, verification of application information, applicable self-certification form, school certification of loan amount, and student’s enrollment at a participating school. Butte College requires you have the items below completed and you are in satisfactory academic standing before we will process your loan request.

Loan Eligibility

• Must have a completed 23-24 FAFSA on file with Butte College.

• Completed a 23-24 Federal Direct Loan request form and submitted to financial aid office.

• Meeting satisfactory academic progress.

• Enrolled in at least six payable units on your education plan.

Butte College administers both subsidized and unsubsidized student loans through the Federal Direct Loan program and we feel strongly that the options provided by Direct Loans are more advantageous for student borrowers. Before Butte College can certify a private student loan, students must exhaust all available federal funding such as the Pell Grant and Direct Loans. Butte College also requires the student to provide additional information, as required, to the Financial Aid Office before private loans can be certified. Certification of a private loan is dependent on the students having “unmet need” after exhausting all available federal funding.

Review and Certification of a Private Loans

Butte College has a responsibility to evaluate all student requests for private student loans on a case-by-case basis and confirm, reduce and/or deny based on academic performance, high debt load and aggregate loan limit. Butte College has limited students qualified for case-by case certification of private student loans to those students whose course of study requires a higher budget, limits the student’s ability to seek outside work because of clinical or course work, 40 hours per week course schedules, requires travel to off campus sites for course work and out-of- state residents. At this time the following programs are eligible for review and certification of a private loan:

At this time the following programs are eligible for review and certification of a private loan:

• Admission to the Associated Degree in Registered Nursing

• Admission to the Associates Degree in Registered Nursing: LVN to ADN

• Admission to the Associates Degree in Respiratory Care

• Admission to the Law Enforcement Academy – Basic

• Admission to the Law Enforcement Academy – Basic/Fish and Game Emphasis

• Fire Fighter 1 Academy

• Out-of-State Residents

• Welding

Please click on the link ELM SELECT for the private student loan information, Loan Application and Solicitation Disclosures where they list their conditions, fees and interest rates.

Please contact the Financial Aid Office if you have applied for a private loan as there is additional processing time and paperwork that must be completed prior to certification. Loan funds will not be disbursed prior to starting your program and/ or semester term.