The College participates in the Federal Family Education Loan Programs. Students and parents borrow funds through private lenders in amounts determined by Federal regulations. The federal government pays interest on the loan while the student is in school or on deferment. The subsidized Federal Stafford Loan is based on financial need. Students are not responsible for payments on principal or interest which accrue on the loan while they are in school on at least a half-time basis.
Payments begin six months after the student graduates or drops below half-time.
The unsubsidized Federal Stafford Loan is not based on financial need. Students who are ineligible or partially eligible for the Federal Stafford Loan may apply for this loan up to the maximum Stafford Loan amount. However, students are responsible for the interest which accrues on the loan while they are in school. Payments on principal begin six months after the student graduates or drops below half-time. PLUS borrowers do not have to demonstrate financial need.