Loan Programs Loans are financial assistance that must be repaid after completing or discontinuing studies. Loans to parents of dependent students are also available. Types of loan programs available to students at Loras College are listed below. Federal Stafford Loan Program Banks serve as lenders of funds guaranteed by the federal government. All students are eligible to receive Stafford Loans, though the federal interest subsidy applies only to loans within financial need.
Interest rate is variable.
Repayment begins six months after completion of studies. Federal Perkins Loan Program Funds lent to the neediest students from federal allocations to Loras. Repayment begins nine months after the completion of studies. Repayment begins within 60 days of disbursement. Annual award amount is the cost of attendance less the amount of financial assistance the family receives.