Student Loans

Federal Stafford Loans are for undergraduate and graduate students who are enrolled at least half time. Repayment starts six months after graduation, withdrawal from school, or dropping below half-time. Annual borrowing limits range from $3500 to $8500 for dependent students.

• Federal Subsidized Stafford Loan is awarded based on financial need information from the FAFSA. You are not charged interest as long as you are enrolled at least half-time.
  
• Federal Unsubsidized Stafford Loan is not based on financial need. You are charged interest from the time the loan is disbursed until it is paid in full. Generally, you will be billed quarterly and the interest payment is based on the outstanding principle and the current interest rate.

Click here for a comparison of Stafford Loan lender benefits.

A Federal Perkins Loan is low interest (5%) loan awarded to students with exceptional financial need who are enrolled at least half time. Priority is given to students whose FAFSA is completed by March 15. Repayment of principal and interest begins 9 months after graduation, withdrawal from school, or dropping below half-time.

A Federal Nursing Student Loan is a low interest (5%) loan awarded to students enrolled and accepted into the nursing program. Priority is given to students whose FAFSA is completed by March 15.  Repayment of principal and interest begins 9 months after graduation, withdrawal from school, or dropping below half-time.

A Federal Parent Loan (PLUS) enables parents to borrow money to help pay for their children's education.  Parents may borrow on behalf of a dependent student who is attending school at least half-time.  The maximum amount of the loan is the difference between the cost of education less other financial aid awarded.  Repayment begins 60 days after disbursement.  Students must also have completed the Free Application for Student Financial Aid (FAFSA). 

Parents interested in applying for a Federal PLUS Loan can apply online or by phone with the lender of their choice.  Federal PLUS Loan borrowers will be required to complete a credit application and Master Promissory Note (MPN), usually at the lender’s website.  If a parent is denied a Federal PLUS Loan and they provide documentation of the denial to the Financial Aid Office, the student may become eligible for additional unsubsidized Federal Stafford Loan.

Click here for a comparison of Plus Loan lender benefits.

Alternative educational loans assist students who have exhausted their eligibility for federal programs.  Lenders will evaluate the applicant's (and/or cosigner) credit-worthiness. 

Click here for a comparison of alternative loan benefits.

Click here for a comparison between PLUS and alternative loans.

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