Loans

Loan Counseling

To apply for these loans, first complete the . All loans must be repaid, though repayment plan options are available. First-time Director Loan borrowers must sign a Master Promissory Note (MPN) and complete Entrance Counseling. After graduation, leaving school, or dropping below half-time, Exit Counseling is required. Access your MPN and counseling at using your FSA ID and Password.


How much should I borrow?

Watch the Responsible Borrowing video below to learn more about borrowing student loans. Additional financial aid videos are available at  . To calculate your loan, use the or the . 



Types of Loans

- This low-interest loan is for students with demonstrated financial need. Repayment begins six months after graduation, leaving school, or dropping below half-time. For subsidized loans, the U.S. Department of Education pays interest while enrolled and during the grace period. Students must

- Students ineligible for a subsidized loan may use this federal, non-need-based option. Half-time enrollment is required. Borrowers are responsible for interest at all times; unpaid interest accrues and is added to the principal. For details, visit the website or contact the Financial Aid Office. 

- parents with good credit may borrow money for educational expenses. This applies to dependent undergraduates enrolled at least half-time. To request a PLUS loan at 鶹ԭ, you need to complete the . Information on interest rates and repayment requirements is available by contacting the Financial Aid Office. 
New Parent PLUS Loan Changes | Current Parent PLUS Loan Charges


Alternative Loans

Many private lenders have loans that are very similar to the Stafford Subsidized and Unsubsidized Loans. A student may borrow up to the budget established for an academic year. This loan is in addition to funds already awarded either on campus or from outside sources. A borrower must have a credit history or have a credit-worthy co-signer on the loan(s). Students may choose an alternative loan and must complete a separate application directly with the lender. 鶹ԭ, through , offers a Historical Lender List that includes lenders we have worked with in the past. If students are interested in pursuing an alternative loan, they should contact the Financial Aid Office at 701-662-1517.