A student is considered as first year for loan purposes from credits 1 to 24 and second year for all required credits starting with their 25th credit. A student must be taking a minimum of 6 credits per semester to qualify for student loans. Students who have previously defaulted on a student loan will be ineligible to borrow any further Federal Subsidized or Unsubsidized Stafford loans while attending Southwest Tech. The amount that can be borrowed annually is the cost of education per student minus other financial aid as shown on the award letter. Interest on the loan is a variable rate capped at 10 percent.
Loan is available through participating lenders.
This loan is not based on financial need. A financial aid application must be completed. Information about interest rates, repayment, job placement, deferment procedures, and budgeting are available. Due to the changing nature of regulations governing financial aid programs, the above information is intended as general information. Specific requirements will depend upon current regulations and funding levels.