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FINANCIAL AID

LOAN PROGRAMS

  Federal Subsidized Stafford Loan Federal Unsubsidized Stafford Loan Federal Grad PLUS Loan Private / Alternative Loan
Interest Rate Fixed at 6.8% for Graduate loans.
Undergraduate loans are on a variable rate. (Interest- free while in school)
Fixed at 6.8%
(Interest accrues from the date of disbursement)
Fixed at 8.5%
(Interest accrues from the date of disbursement)
Variable
(Interest accrues from the date of disbursement)
Fees Fees for origination vary from 0 - 2.5% Fees for origination vary from 0 - 2.5% Fees for origination vary from 0 - 4% Fees vary based on lender, loan type and credit history.
Annual Loan Limits $3,500.00 - 1st Year
$4,500.00- 2nd Year
$5,500.00 - 3rd 4th Year
$8,500.00 - Graduate Program
*$6,000.00 - 1st 2nd Year
*$7,000.00 - 3rd 4th Year
$12,000.00 - Graduate Program
Up to the total cost of attendance minus other financial aid received. Depends on lender and credit history
Credit Requirements No credit check
No cosigner required
No debt-to-income scoring
No credit check
No cosigner required
No debt-to-income scoring
Credit check required
No cosigner required
No debt-to-income scoring
Credit check required
Cosigner may be required
Debt-to-income scoring may be required
Application Process 1. File a FAFSA.
2. Complete the Student Loan Request Statement and Financial Aid Packet. Both forms must be returned to the Financial Aid Office for processing.
3. If a first time borrower, you will need to choose a lender and complete an Electronic Master Promissory Note (eMPN) and take an Entrance Test.
4. Accept the offered loan amounts on Award Letter.
Same as Federal Subsidized Stafford loan 1. File a FAFSA.
2. Accept the entire offered amount of Subsidized and Unsubsidized Stafford loan.
3. Apply directly with chosen lender.
4. If a first time borrower, complete an Electronic Master Promissory Note (eMPN).
5. Accept the offered loan amounts on Award Letter.
1. FAFSA is not required.
2. Apply directly with chosen lender.
3. If a first time borrower, complete a Master Promissory Note (MPN).
Deferment/Forbearance Available Available Available Depends on lender
Repayment Grace period is 6 months after graduation or last day of attendance.
Maximum term 10 to 25 years
Grace period is 6 months after graduation or last day of attendance.
Maximum term 10 to 25 years
No grace period
Repayment begins within 60 days after final disbursement.
Maximum term 10 to 25 years
No grace period
Repayment terms vary

*Unsubsidized loan amount is for independent students only. Dependent students are only eligible for $2,000.00.