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Loans and Other Programs
for
freshmen, transfer, and returning students
Federal Perkins Loan Program
The Federal Perkins Loan Program is funded by the
federal government, and the College. Eligible
Daniel Webster students are typically offered $500 per year in Federal Perkins Loans. Federal Perkins Loans are awarded to
day students demonstrating exceptional financial need. Both interest and repayment are deferred on this loan while the student is in school.
Federal Subsidized Direct Loan Program The
Federal Subsidized Direct Loan Program enables students to borrow funds directly from the federal government for higher education expenses. Such loans are insured by the federal government and disbursed directly from the government to the students college tuition account.
Loan limits have been set at $3,500 for the first undergraduate year, $4,500 for the second year, and $5,500 thereafter with an aggregate total not to exceed $23,000 for the undergraduate years. Both interest and repayment are deferred on this loan while the student is in school. Federal Unsubsidized Direct Loan Program The Ford Federal Unsubsidized Direct Loan Program is available to student borrowers who do not meet eligibility requirements for the subsidized loan, in whole or in part. Loan limits are the same as the Federal Subsidized Direct Loan Program described above. However, in this program the interest begins to accrue immediately. The borrower may elect to pay the interest while in school or have the interest capitalized.
Federal Loan Entrance Counseling Sessions Federal regulations require all first-time Federal Stafford
and Perkins Loan borrowers to
participate in Entrance Loan Counseling before receiving the first
disbursement of your loan proceeds. If you were instructed by the Office
of Financial Assistance to complete your Stafford and Perkins Entrance Loan Counseling
session on Mapping Your Future, please click the title above to complete this
requirement.
Federal Direct Parent Loans for Undergraduate Students (PLUS) The Federal Direct PLUS Loan Program provides loan funds for parents of dependent undergraduates. PLUS Loans are insured by the federal government and disbursed directly from the government to the students tuition account. Parents may borrow for whatever educational costs are not covered by financial aid. To qualify for this loan, parents must have a credit check completed by the Federal Direct Lending Service Center. Outside or Private Assistance Sources Daniel Webster College Office of Financial Assistance also provides information and applications for other alternative loan programs. Daniel Webster College Monthly Payment Plan Daniel Webster offers a no-interest monthly payment plan that evenly distributes any outstanding tuition, room and board and flight costs over a ten-month period. A small application fee is required.
This program is managed by the Business Office. |
