Information about Loans:

 

Standard Loan Certification Amounts:

 

Freshman       (0-29 credits)      $3500 Full Year     $1750 One Semester

Sophomore    (30 and over)       $4500 Full Year     $2250 One Semester

 

*Additional unsubsidized loan amounts must be requested in writing.

 

 

Interest Rates:

 

6.8% Direct Subsidized Loans for undergraduates with a first disbursement date between July 1, 2012, and June 30, 2013.

 

6.8% Direct Subsidized Loans for graduate students and Direct Unsubsidized Loans for all students.

 

Note:  Rates are subject to change.

 

 

Parent PLUS Loans:

 

Complete the Application at  www.studentloans.gov

• Sign In using the same four digit pin# used for the FAFSA Application

• Click on Request  Direct PLUS Loan
• Click Parent PLUS
• Complete the application
  • Be careful to list the parent as the borrower and the student as the student.

   

• SUBMIT

 

 

Alternative Loans:

 

Bridge the gap when a student’s financial aid award is not enough to cover the COA.

• The loans are offered by private lenders.
• Eligibility may be driven by the applicant’s and co-applicant’s credit score.
• Private education loans tend to cost more than federal education loans  - variable interest rates
• Parents who are considering a private alternative education loan often consider a HOME EQUITY LOAN or a Federal Direct PLUS Loan. There are several tradeoffs between these options.

 

To select a private alternative education loan, it’s best to do your own research:

• Ask lenders for comparison charts
• Go online. Entering “private student loans” or “alternative student loans” on any search engine will yield quite a few sites.
• You may also want to read the information on “Private Education Loans” on www.finaid.org.

 

Students applying for a private alternative loan must complete the Private Loan Self Certification Form and submit it to your lender.

 

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