Direct Stafford Loans

 

  • The Subsidized Direct Stafford Loan is awarded to students who demonstrate financial need. The federal government pays the interest on this loan while the student is attending school at least half-time (6 credit hours) and during the six month grace period.
  • The Unsubsidized Direct Stafford Loan is awarded to students who have NOT demonstrated financial need or to those independent students who have already borrowed the maximum allowable amount for their grade level under the Subsidized program. The student is responsible for all of the interest that accrues on the loan from the very beginning. The student can pay the interest while in school or it can be deferred.
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Your award letter will indicate how much financial need you have and what type of loan you qualify for. You can view your award anytime during the academic year by visiting our web site.

 

Parent PLUS Loans

 

  • Are unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.
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Lending Process:

      • Your interest in Direct Student Loans is assumed (starting 2011-2012) when you file the Free Application for Federal Student Aid (FAFSA).
      • Once we process your FAFSA you will receive an award letter regarding any aid you are receiving at that time (additional notices may be sent if you receive more awards). Follow the instructions in the letter to accept or decline the loans offered to you. You can also choose to only borrow a portion of the amount offered; if you feel that you will need to borrow additional funds over what you have been offered please contact our office to check your eligibility.
      • Complete a Master Promissory Note.
      • Complete Entrance Counseling.
      • Please note: loan funds will not be disbursed until both the Master Promissory Note (MPN) and Entrance Counseling results are received by the Office of Student Financial Aid.

Lending Resources

 

Loan FAQs

 

Questions, call us at: (620) 417-1111 or (800) 373-9951 or to e-Mail us please click here.