An exit interview is required prior to discontinued attendance. The maximum interest rate is 8.25 percent for both the subsidized and unsubsidized federal Stafford loans. Stafford loan borrowers are charged an origination fee of three percent or less depending on the lending institution. Repayment begins six months after last attendance on at least a half-time basis. This loan program is designed for parents of dependent students.
Interest rates are low, currently under nine percent.
Parents should obtain PLUS applications from their lending institution. UMA Scholarships Scholarship application forms are available each spring semester through the Office of Financial Aid, Office of Student Services, and any off-campus center. Please note that financial need is not a factor for some of these awards. Awards are normally made each spring for the following fall. Scholarship application forms are available beginning in January from the Office of Financial Aid for the following year s award.