LOANS

William D. Ford Federal Direct Loan Program

Application Steps:

The Federal Direct Stafford Loan is a low interest student loan that enters repayment six months after the student ceases to be enrolled at least half-time (six semester hours). Stafford Loans are categorized as Subsidized (need-based, Federal Government pays interest while in school) and Unsubsidized (non-need-based, student is responsible for interest that accumulates while in school) It is available to students enrolled at least half-time. For more info, please click here.

Stafford Loan Application Steps:

• File a Free Application for Federal Student Aid (FAFSA)
• Complete a Master Promissory Note
• Complete Entrance Loan Counseling

The Federal Direct Parent PLUS Loan for Undergraduate Students enables parents with good credit histories to borrow to pay the education expenses of each child who is a dependent undergraduate student enrolled at least half-time. The annual loan limit is equal to the cost of attendance at Shorter College, less any other financial assistance the student is receiving. For more info, please click here.

Plus Loan Application Steps:

• File a Free Application for Federal Student Aid (FAFSA)
• Complete a Master Promissory Note
• Complete a Plus Loan Request Form 2010-2011 or 2009-2010. Select 2009-2010 for loans applied towards the spring semester of 2010. Select 2010-2011 for loans applied towards the summer of 2010, fall 2010, and or spring 2011.

Private Loan Program

Application Steps:

A private student loan is a financing option for qualified higher education-related expenses. These loans are available to help students bridge the gap between the Cost of Attendance and money received through federal loans, grants, scholarships and other aid.  Private loans have various options for repayment and may offer forbearance and deferral options. In addition, interest rates for private loans are based on credit and set by the lender.

Private Loan Application Steps:

• Visit ElmSelect
• Compare and choose a lender
• Click “apply now”
• Complete on-line self-certification application

Information:

Consolidation
Exit Counseling
Stafford Loan
PLUS Loan
Terms & Conditions