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Loans
Complete
Loan Entrance Counseling and Master Promissory Note ONLINE!
First-time* student loan borrowers MUST
complete a Loan Entrance Counseling and/or
Direct Loan Master Promissory Note (MPN).
(* students who have not previously borrowed Ford Subsidized
or Unsubsidized loans)
To complete the Loan Entrance Counseling
and Direct Loan MPN online, go to
www.studentloans.gov .
If scholarships and grants are not
sufficient to cover educational expenses, a loan may fill a
student's remaining financial need. Student loans, unlike
grants and scholarships, must be repaid, with interest.
Students should be prudent in deciding the amount of money
to borrow and carefully consider the amount they will have
to repay over the years. There are various types of loans
that students may consider.
Federal
Student Loans
William D. Ford Direct Student Loan (Subsidized)
William D. Ford Direct Student Loan
(Unsubsidized)
Federal Perkins Loan
Students are considered for Federal loans by
completing the FAFSA. The Ford Direct Loan and Federal
Perkins amounts for which a student is eligible will be
included in the financial aid award package.
PLUS Loans
PLUS, Parent Loans for Undergraduate
Students, applications must be completed annually. PLUS
loans are credit-based and the criteria for approval are set
by the U.S. Department of Education.
If a parent and/or guardian of a dependent
student receives a denial notice from the U.S. Department of
Education for a PLUS
loan, the student may request and receive a Ford Direct
Unsubsidized loan, if student is otherwise eligible.
Eligibility requirements include: being admitted into a
degree-seeking program, making satisfactory academic
progress (SAP), and being enrolled in at least six(6) credit
hours.
Private
Loans
The Private Loan application may be
completed by the student or the parent. Private loan
applications must be completed annually. These loans are
credit-based and the approval criteria are established by
the lender. If the loan is approved by the lender, the
school will electronically receive the Loan Certification
request.
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