Loans
The University Records Office must consider students at least half-time in order to qualify for Federal Student Aid, which includes both federal loans and on-campus employments. These loans are available to students to help meet their financial need, but they must be repaid according to a monthly schedule after graduation or within 60 days of disbursement.
Federal Stafford Loan
This is a low-interest loan that students take out on their own behalf. The FAFSA must be completed in order to be eligible. The interest rate is capped at 8.25 percent; for the 2008-2009 school year, the rates are 6.8%. Repayment begins 6 months after graduation or if the student drops below half time. Please view the Stafford Loan Chart for more information.
The Federal Government requires all new, first-time loan borrowers to complete Loan Entrance counseling and a Master Promissory Note. If you receive this loan you must complete online Stafford Entrance Counseling. Please click here to complete your entrance counseling.
To fill out a Master Promissory Note (MPN) please select a lender. For guidance please see our Lenders.
Federal Graduate PLUS Loan
The Graduate PLUS loan is a federal loan fixed at 8.5% that allows a graduate student to borrow funds to help meet their educational expenses. The maximum Graduate PLUS loan amount is equal to the cost of attendance, as determined by the school, minus any other financial aid you may be receiving. The FAFSA must be completed and this loan should only be considered after a student has received the full amount of their Stafford loans. Repayment begins within 60 days after the loan is disbursed. This loan requires a credit check. You need to choose a lender and apply for the Grad PLUS loan with the lender. We should be notified once you have been approved for the loan.
Entrance Counseling is required. Please click here to complete it.