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Loans

Many students and families utilize loans for related costs of their education. There are many opportunities to reduce or eliminate the need for loans through scholarship and grant sources.

Loans provided by the Department of Education are awarded after grants and scholarship aid have been determined. Loan portions awarded to students and parents to cover educational costs do require additional steps to secure. Information on securing federal parent/student loans will be included with the award offer. Private educational loans are not awarded, please refer to information provided below for details. 

  • Federal Direct Student Loan
    A low-interest loan for students, with annual loan limits of $5,500 for a freshman and $6,500 for a sophomore. Independent students may borrow an additional $4,000, annually.
    Federal Student loan website: Federal Direct Loans information for students and parents.
  • Federal Direct Parent PLUS Loan
    A low-interest loan for parents of a dependent student. A parent may borrow the entire cost of the educational expenses, minus other financial aid.
    Federal Student loan website: Federal Direct Loans information for students and parents.
  • Private Educational Loan
    An educational loan available to students who are in need of additional funds to cover the remaining cost of education. Interest rates are typically higher than the federal loans, and all private educational loans will require a co-signer. If interested in this type of loan, please research private lenders to find the best fit for your lending needs. Notify the financial aid office of your plans to borrow, and which lender you will be using to ensure timely processing of your private loan.
  • Entrance Counseling
    Before a school delivers federal student loan proceeds, students are required by federal regulation to complete an entrance counseling session.  Entrance counseling ensures that students understand the terms of their federal loans, responsibilities and requirements.  Students can learn more about Entrance Counseling, as well as complete the session, at the Federal Student loan website.
  • Exit Counseling 
    Exit counseling ensures that students are reminded of the terms of their federal loans, responsibilities and requirements.  Students can learn more about Exit Counseling as well as complete the session at the Federal Student loan website.
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