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Financial Aid & Scholarships

 
 

FINANCIAL AID APPLICATIONS

FINANCIAL AID ON-LINE SERVICES

FINANCIAL AID REQUIREMENTS AND INFORMATION

 

 

 

DIRECT LOANS

Loan Amounts: Grade level one students (freshman) may borrow a base amount of $3,500 (subsidized and/or unsubsidized); Grade level two students (sophomores) may borrow a base amount of $4,500 (subsidized and/or unsubsidized) per academic year. Loan amounts for one semester only are one-half (1/2) the maximum yearly loan amount not to exceed need or cost of attendance.

Direct Loan Resources


Interest Rate: As of July 1, 2013 the interest rate for subsidized and unsubsidized loans for undergraduate students is fixed at 3.86% for loans disbursed from July 1, 2013 through June 30, 2014.

To apply for a subsidized or unsubsidized loan, you must first apply for federal financial aid via the FAFSA. All students applying for a loan must complete “Entrance Counseling” before the processing of the loan application and “Exit Counseling” before the receipt of the second check. Entrance and Exit counseling are required on a yearly basis.

The deadline to submit a Federal Direct Student Loan application is December 12, 2013 for the Fall 2013 semester, and May 30, 2014 for the Spring 2014 semester. Tuition payments will not be deferred for Federal Direct Student Loans. Loan funds will not be disbursed during the first 30 days of each semester.

If your total borrowing is $10,500 or more, in addition to your student loan application, you will be required to provide a budget worksheet with documentation of expenses and resources as well as an educational plan based on your educational goal. You will need to make an appointment with your Financial Aid Advisor for further consideration.

If your total borrowing is $13,500 or more, in addition to your student loan application, you will be required to provide a budget worksheet with documentation of expenses and resources as well as an educational plan based on your educational goal. You will need to make an appointment with the Financial Aid Supervisor for further consideration.

If you wish to borrow additional unsubsidized loan amounts, as a supplement to your student loan application, you will be required to provide a budget worksheet with documentation of expenses and resources as well as an educational plan based on your educational goal. You will need to make an appointment with the Financial Aid Supervisor for further consideration.

Origination Fee Increase: As of Dec 1, 2013 the loan origination fee has increased from 1.05% to 1.07%

Time Limitation on Direct Subsidized Loan Eligibility for First Time Borrowers on or after July 1, 2013, click here for more information.

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