Student - Federal Direct Student Loans

• Student eligibility listed on Financial Aid Notification
  • Students must be enrolled at least half-time (six or more credit hours) to borrow  
  • Interest Rate on or after 7/1/19 and before 7/1/20
    • Subsidized – 4.53% fixed rate
    • Unsubsidized – 4.53% fixed rate
  • Fees on or after 10/1/19 and before 10/1/20   
    • 1.059%  
    • Calculate net amount received by the school
      Loan amount X .98941 = net amount
  • Payments begin six months after the student leaves school, graduates, or drops below half-time status
    
• Student is the borrower
  • Complete Entrance Counseling  
  • Complete Loan Agreement (Master Promissory Note)
    

Parent - Federal Direct PLUS Loan

• Parent eligibility listed on Financial Aid Notification
  • Student must be enrolled at least half-time (six or more credit hours) to borrow 
  • May borrow up to the cost of attendance minus all financial aid options
  • Interest Rate on or after 7/1/19 and before 7/1/20                     
    • 7.08% fixed rate
  • Fees on or after 10/1/19 and before 10/1/20                      
    • 4.236%
    • Calculate net amount received by the school
      Loan amount X .95764 = net amount received by the school  
  • Payment begins after the loan is fully disbursed for the academic year
    • Payment deferment and/or forbearance options available
• Parent is the borrower
  • Parent of a dependent undergraduate student
    • Biological, adoptive or step-parent
  • Yearly application process

    • Complete Loan Application, Credit based loan, may apply with an Endorser

  • Complete Loan Agreement (Master Promissory Note)

  • Allows additional unsubsidized eligibility for undergraduate student if parent is denied the loan    

Private Loans

• Loan in student’s name with cosigner
• Parent loans available
• Variable and fixed interest rates
• Lender specific benefits