Student loans are a great way to secure financial assistance throughout your university career.
Your first step is to determine your eligibility for receiving any of a vast array of Federal subsidized and unsubsidized loans.
|Federal Direct Loan (subsidized and unsubsidized)||A federal loan program that is awarded upon completion of the FAFSA. Repayment begins six months after graduation or cessation of enrollment.|
| - Freshman
|$3,500 sub, $2,000 unsub||Independent students or Parent Plus loan denials may receive up to an additional $4,000 in unsubsidized as a freshman or sophomore.|
| - Sophomore
|$4,500 sub, $2,000 unsub|
| - Junior/Senior
|$5,500 sub, $2,000 unsub||Independent students or Parent Plus loan denials may receive up to an additional $5,000 in unsubsidized as a junior or senior.|
|- Graduate||up to $20,500 unsub||The total loan amount is determined by student's total cost of attendance.|
|Federal Perkins Loan||$5,500||A low interest federal loan program sponsored by the federal government. Preference will be given to students who are pell eligible and are graduating senior.|
|Federal PLUS Loan||Up to cost of attendance||A loan for parents of dependent undergraduate students.|
|Federal Graduate PLUS Loan||Up to cost of attendance||Loan for graduate students|
|Student Employment - Institutional Part-time Employment||$3,600||An on-campus employment program for students to work up to 15 hours per week|
|Alternate/Private||Up to cost of attendance||A loan from an outside lender to help cover cost.
Please see www.lewisu.edu
The benefit of a Federal Direct Subsidized Stafford Loan is that you are not charged interest on the loan while you are in school at least half-time, as well as during grace periods or deferment periods. These loans are offered to students who display a financial need.
You are not required to demonstrate financial need to receive a Federal Direct Unsubsidized Stafford Loan. Interest will accumulate on your loan throughout your time in school.
Learn more about these loans and how to apply at the official Federal Student Aid site.
All federal student loans obtained by you or your parent are reported to and tracked on the National Student Loan Data System (NSLDS). NSLDS loan records are accessible to all authorized NSLDS users, including schools, student loan guaranty agencies, lenders, federal agencies, and other authorized users.
Only federal loan information is reported to NSLDS: private educational loan information is not reported to NSLDS.
You can view all your federal loan information at NSLDS by logging into the system with your federal pin. Your parent also can view any parent or student loans he or she has borrowed, by logging in with his or her federal pin.
Federal Direct Student Loan interest rates are determined each spring for new loans being made for the upcoming award year (defined as July 1 through June 30). Each loan will have a fixed interest rate for the life of the loan. You can find more information about current federal student loan interest rates at www.studentloans.gov
There is an origination fee deducted from your loan before you receive the funds. For more information about current origination fees, please visit www.studentloans.gov
What does a federal loan servicer do? A servicer is an organization that has been approved by the U.S. Department of Education to facilitate repayment, customer support, and customer service on federal student loans.
Who are the federal loan servicers for the U.S. Department of Education?
|Aspire Resources, Inc.||
|FedLoan Servicing (PHEAA)||
|Granite State – GSMR||
|Great Lakes Educational Loan Services, Inc.||
|VSAC Federal Loans||
Who is my federal loan servicer? You can locate your loan servicer at www.NSLDS.ed.gov.