Student Financial Services
Undergraduate Loans
Need-Based Loans
Federal Perkins Loans
The Perkins loan is a federally funded, low-interest educational loan. It carries no interest while the student is enrolled at least half time. Interest accrual and repayment begin nine months after the student graduates, withdraws, or otherwise ceases to carry at least a half-time course of study. The repayment of principal may be extended over a period of 10 years with interest at a rate of 5% per year. Recipients are required to sign a promissory note prior to the loan being disbursed each semester. Failure to sign the promissory note will result in cancellation of the loan. Contact us at Student Financial Services for more information about completing a Perkins promissory note.
Federal Subsidized Stafford Student Loan
The Stafford Loan is a federally funded educational loan available through private lenders. The federal government pays the accruing interest rate while the student is enrolled on at least a half-time basis and for up to 6 months after the student graduates or ceases to be enrolled on at least a half-time basis. Students who are awarded a Stafford Loan will need to complete a Master Promissory Note (MPN). In addition, you will need to complete Entrance Counseling before loan funds can be credited to your account. You can find out more information about competing the MPN and Entrance Counseling here.
Federal Unsubsidized Stafford Student Loan
This is a federally funded educational loan available through private lenders. Students who do not demonstrate sufficient need for a subsidized loan may receive this loan.The current rate of the Unsubsidized Stafford Loan is fixed at 6.80%. The accruing interest may be paid on a quarterly basis of capitalized interest while the student is enrolled on at least a half-time basis. Students who are awarded a Stafford Loan will need to complete a Master Promissory Note (MPN). In addition, you will need to complete Entrance Counseling before loan funds can be credited to your account. You can find out more infomation about the MPN and Entrance Counseling here.
Dependent students whose parents have been denied a PLUS Loan may be able to receive a higher Unsubsidized Stafford Loan amount. Contact our office if your parent has been denied a PLUS Loan to determine if we can increase your Unsubsidized Stafford Loan.
