Loans
Loans are the last type of aid for which you are considered, after gift aid and work-study. They are considered self-help financial aid because you must repay the money loaned to you. Student loan programs offer favorable terms reserved for students. Interest rates are lower than typical consumer rates. You may have an interest-free grace period before repayment begins. Some loans may be deferred or repaid if you work in a particular program or government job after graduation. If you are awarded
a loan, the amount you are eligible to receive will be listed in your eFAAN
(Financial Aid Award Notice). You must indicate online that you accept all or
part of the loan award when you complete your eFAAN.
Funds are limited; to be among the first recipients, you are strongly encouraged
to submit your Free Application for Federal Student Aid (FAFSA) by the priority
deadlines (new students, March 1 or for returning students, April 1) before
funds are depleted for the aid year. These programs are administered by the University as the lender. Student Financial
Collections (SFC) is the office with oversight for all University-administered
loan programs.
