Loans

Educational loans come from a variety of sources. The federal government, for example, sponsors several loan programs that offer below-market interest rates and other beneficial features. Other loan options, such as private bank loans, provide valuable help to students who may not qualify for federal loans. Even our own Dean of Students Office offers short-term emergency loans to current students. Questions? Contact the Financial Aid Office.

Our Federal School Code: 003652

Consumer Reporting Agency Notification

Educational loans are reported to the National Student Loan Database (NSLDS) where they are accessible by authorized agencies, lenders, and Higher Educational Institutions.  You may access this information by logging on to NSLDS using your 4-digit FAFSA PIN number.

PLEASE NOTE:
As of July 1, 2013, changes have been made to student aid programs that affect student loans. For more information, please visit the FEDERAL STUDENT AID PAGE.

 

Loan Options

The following loan options are available to most students:

Alternative Loans
B-On-Time (BOT) Loan
College Access Loan (CAL)
Parent PLUS Loans
Perkins Loans
William D. Ford Direct Loan Program

Forms

In addition to completing a FAFSA, most loans require you to complete these additional forms:

FormExplanation
E-Sign Promissory Note This must be completed to receive funds. The signature is good for 10 years.

Entrance Interview

This must be completed to receive funds.
Exit Interview This is completed when the student leaves or graduates from the university or is no longer at least half-time status. This does not include summer sessions. Students do not have to enroll in summer sessions as long as they resume classes the following fall.

Items to Consider

1. Before you take out a loan, make sure you fully understand your options and responsibilities. A student loan can be a valuable tool to help you realize your educational and career dreams, however, it should be the last option you exercise. You should explore and use scholarships, grants, work-study, part-time jobs and family contributions first to finance your education.
2. Don't borrow more than you need or more than you expect to be able to repay. Develop a sound, and realistic, financial plan.
3. Make your loan payments on time, and notify your lender or servicer when you move or change your address.
4. Contact your lender or servicer immediately if you start to have problems repaying your loan. They may be able to provide you with some financing options and give you information about deferments and forbearance.
5. Keep a record regarding your loan. Make copies of letters, canceled checks and any forms you sign.