Loans
The university participates in the Federal Family Education Loan Program which enables students enrolled at least half-time to borrow directly from financial institutions.
Federal Stafford
Loan limits are $3,500 per year for freshmen, $4,500 for sophomores, and $5,500 for other
undergraduates. For an interest-subsidized Federal Stafford Loan, repayment of principal and
interest is deferred until after the borrower graduates or enrolls less than half-time. Students
are eligible for an additional $2,000 on the unsubsidized loan. The Federal Stafford Loan interest
rate is 6%.
It is a federal government requirement that students complete a student loan entrance
counseling session prior to obtaining a Federal Stafford student loan. To complete your entrance
counseling requirement, visit the
Mapping
Your Future web site, click on Online Student Loan Counseling and follow the instruction
for Stafford Loan Entrance Counseling.
Federal Parent Loans for Undergraduate Students (PLUS) are available to parents of undergraduate students who do not qualify for financial aid or who need to supplement other sources of financial aid. The interest rate is 8.5%. Repayment begins 60 days after the loan is disbursed, but may be deferred while the student is enrolled.