Loans

 

Undergraduates

 
Federal Direct Subsidized Loan 

Loan must be repaid. The U.S. Department of Education pays interest while borrower is in school and during grace and deferment periods; student must be attending at least half-time and demonstrate financial need; fixed rate (set annually) for new borrowers.

Federal Direct Unsubsidized Loan

Loan must be repaid. The borrower pays interest while in school and during grace and deferment periods; student must be attending at least half-time and demonstrate financial need; fixed rate (set annually) for new borrowers.
 
Federal Direct Parent PLUS Loan
Loan must be repaid. For parents of dependent undergraduate students and graduate and professional students; students must be enrolled at least half-time; financial need not required. Unsubsidized: Borrower (parents) responsible for all interest. Maximum amount is cost of attendance minus any other financial aid student receives; no minimum amount. 
 
Federal Nursing Student Loan
Loan must be repaid. The Federal Nursing Student Loan is available to students who express extreme need, based on available funding. This is a low-interest loan with a fixed rate of 5 percent. Students should check with the financial aid office to determine their eligibility for this loan.

 

Graduate students

 
Federal Direct Unsubsidized Loan

Loan must be repaid. For graduate and professional students enrolled at least half-time (six hours). Fixed interest rate set annually for new borrowers. Borrower does not need to have financial need. Maximum loan amount per academic year is $20,500.

Federal Direct Grad PLUS Loan
Loan must be repaid. For graduate and professional students enrolled at least half-time (six hours). Financial need not required. Fixed interest rate set annually for new borrowers. Maximum amount allowed is cost of attendance minus any other financial aid student receives, no minimum amount.

 

Students and parents who wish to participate in the Federal Direct Loan Program should complete the following requirements:

Students should complete: Parents who wish to apply for a Parent PLUS Loan, should complete:  
Private Student Loan Disclosure

Students who plan to apply for a private student loan must complete a self-certification form or submit proof of having done one. Students are free to explore the lenders of their choice. The Office of Financial Assistance does not refer/recommend/ suggest lenders. Students are encouraged to research multiple lenders to find the best fit for both short-term and long-term needs. If you are unsure of what to ask each lender, you are welcome to consult the Financial Aid and Compliance Officer to explore your needs.

Apply for private loan

For more information, email financialaid@stjohnscollegespringfield.edu or call (217) 814-4705.