Student Loan Programs
This section provides detailed information about student loan programs.
Federal Perkins Loan
Student must:
- Have exceptional financial need.
- Be a U.S. citizen or eligible non-citizen.
- Be enrolled in an eligible school.
- Be pursuing a degree or certificate.
Award:
- Up to $5,500 per year for undergraduate students.
- Up to $8,000 per year for graduate students.
- Up to $27,500 maximum for undergraduate study.
- Up to $60,000 maximum for undergraduate and graduate study.
- 5% interest rate.
Application:
- Free Application for Federal Student Aid (FAFSA)
- Esign your Master Promissory Note (www.studentloans.gov)
Federal Stafford Loan (subsidized)
Student must:
- Have financial need.
- Be a U.S. citizen or eligible non-citizen.
- Be enrolled at least half-time in an eligible school.
- Be pursuing a degree or certificate.
Award:
- Depends on year in college and whether considered dependent or independent student.
- Cannot exceed the cost of attendance minus other financial aid received.
- 5.6% interest rate is for loans made between July 1, 2009, and June 30, 2010. The interest rate is scheduled to drop each year until it reaches 3.4% in the 2011-2012 school year.
Application:
- Free Application for Federal Student Aid (FAFSA)
- Esign your Master Promissory Note (www.studentloans.gov)
Federal Stafford Loan (unsubsidized)
Student does not have to show need but must:
- Be a U.S. citizen or eligible non-citizen.
- Be enrolled at least half-time in an eligible school.
- Be pursuing a degree or certificate.
Award:
- Depends on year in college and whether considered dependent or independent student.
- Cannot exceed the cost of attendance minus other financial aid received.
Application:
- Free Application for Federal Student Aid (FAFSA)
- Esign your Master Promissory Note (www.studentloans.gov)
Federal PLUS Loan (for parents of undergraduate students)
Parent must:
- Be a U.S. citizen or eligible non-citizen.
- Be the parent or stepparent of an eligible undergraduate student.
- Pass a credit check.
Student must:
- Be a U.S. citizen or eligible non-citizen.
- Be enrolled in an eligible school.
- Be pursuing a degree or certificate.
Award:
- Cannot exceed the cost of attendance minus other financial aid received.
Application:
- Free Application for Federal Student Aid (FAFSA)
- Esign your Master Promissory Note (www.studentloans.gov)
Federal PLUS Loan (graduate and professional students)
Student must:
- Be a U.S. citizen or eligible non-citizen.
- Be enrolled at least half-time in an eligible school.
- Be pursuing a graduate or professional degree.
- Pass a credit check.
Award:
- Cannot exceed the cost of attendance minus other financial aid received.
- Student must exhaust all Stafford Loan (subsidized and unsubsidized0 before receiving a PLUS Loan.
Application:
- Free Application for Federal Student Aid (FAFSA)
- Esign your Master Promissory Note (www.studentloans.gov)
