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Need-Based

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Types of Financial Aid

Federal Direct Loan

Facts:  Requirements:
  • Self-help aid (must be repaid)
  • Repayment begins six months after the student graduates or ceases to be enrolled on at least a half-time basis.
  • Provides loans of up to $3,500.00 for the 1st year and up to $4,500.00 for the 2nd year.
  • Rate of interest is fixed at 3.86 percent for both subsidized and unsubsidized loans.
  • Offers subsidized** or unsubsidized*** loans.  (One can receive both loans for the same enrollment period. The total subsidized loan cannot exceed a yearly amount of $3,500 for first year students and $4,500 for second year students. The total unsubsidized loan cannot exceed a yearly amount of $2,000 for dependent students and $6,000 for independent students.)
  • See Student Loan Default Prevention Program.
  • Federal Stafford Loan Exit Counseling must be completed after the student graduates or withdraws from the college.
A student must...
  • Be a U.S. citizen, or eligible non-citizen.
  • Be enrolled at least 6 credit hours in an eligible program.  (If you are enrolled at least 6 credit hours per semester, you will receive the total amount of your loan awarded each semester.)
  • Make Satisfactory Academic Progress.
  • NOT be in default on other student loans.
  • Complete:
How To Apply
  • Apply to the College and be admitted to an eligible program of study.
  • Complete the FAFSA form.
  • If you are applying for the Fall 2013, Spring 2014, or Summer 2014, complete the 2013-14 FAFSA form.
  • Complete your Financial Aid file.
  • Go to website and complete loan electronically.