Repayment commences within sixty days after the loan funds are disbursed. Loan eligibility is determined by subtracting the student's expected financial aid from the total estimated cost of attending Ferrum. PLUS applications are available in the Financial Aid Office and through various lending institutions. The student must maintain satisfactory academic progress in order for the parent to be eligible to obtain a PLUS loan. In addition to federal loans, financing options are available through banks and other educational lending institutions.
Most alternative loans require that the borrower demonstrate credit-worthiness.
United Methodist Aid Programs United Methodist students are encouraged to apply for assistance from the United Methodist Church programs which are described below. Applications for all programs are available in the Financial Aid Office. United Methodist Scholarships Ferrum nominates qualified applicants annually for the United Methodist Scholarships available through the General Board of Higher Education and Ministry in Nashville, Tennessee. Financial need, superior grades, and local church membership are factors in selection. Submit the application no later than July 1.