Admissions
Financial Aid > Loan Application Process
Follow the links below to apply for the 2009-2010 academic year.
If your Financial Aid Announcement includes a Federal Stafford Loan, click here to learn more, and apply.
If your Financial Aid Announcement includes a Federal Perkins Loan click here to learn more, and apply.
A Federal PLUS Loan is an effective means by which parents can finance their child’s undergraduate educational costs. Parents may borrow up to the cost of education minus any financial aid their child is receiving; there is no annual or aggregate loan limit. Parents have the option to begin repayment after the PLUS Loan is fully disbursed or they may defer making payments until six months after their child graduates from college. Learn more, and apply.
A non-federal Alternative Loan may be included on your Financial Aid Announcement, or you may decide that you need additional funds to pay for college, for which you (the student) will be the borrower. With non-federal loans, each lender is free to determine its own characteristics and requirements. Learn more, and apply.
Borrow Wisely
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Consider student loans after you have researched all the sources of free financial aid, including scholarships, grants, and work-study.
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Borrow only the funds you need. You are not required to borrow the full amount shown on your Financial Aid Announcement.
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Review the page, "How Much to Borrow?"
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If you have received an Unsubsidized Stafford Loan, try to make at least some interest payment while you are enrolled (or during your grace period) in order to reduce your total debt.
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Tell your lender/servicer about changes that need to be made to your name, address, or telephone number and also about your withdrawal or your graduation from the College.
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Wise management of your loan will establish an excellent credit history. To help insure all payments are made on time, consider setting up an automatic debit from your checking or savings account.
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Keep copies of all loan documents and correspondence in one place.
For more information, contact:
Margaret Alsaraf
Assistant Director of Financial Aid
847-735-5015 (phone)
847-735-6271 (fax)
