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