Admissions

Federal Loans

Types of federal loans :

Perkins Loan- need based, amount determined by school.  

Subsidized Loan- need based. 

Unsubsidized Loan-need is not considered   .

  • Freshman           $5,500 Max ($3,500 Max Subsidized)
  • Sophomore         $6,500 Max ($4,500 max subsidized)
  • Junior & Seniors  $7,500 Max ($5,500 max Subsidized)

PLUS Loan-For parent or graduate student   *CREDIT QUALIFYING-            Apply no earlier than 90 days prior to the start of the semester.

 

-Information regarding federal loans, including current interest rates, can be found at www.studentaid.ed.gov/types/loans/interest-rates

-The FAFSA is your application for the Federal Perkins and Federal Direct Subsidized/Unsubsidized Loans.  All borrowers must complete a Master Promissory Note and Loan Entrance Counseling.

-Applications for GRAD PLUS or PARENT PLUS can be completed at www.studentloans.gov.  All Borrowers must complete a Master Promissory Note.  Graduate students must also complete PLUS loan entrance counseling. 

-Undergraduate students must be enrolled at least half-time to be eligible for federal loans, and are subject to the following lifetime limits:  $31,000 in total loans for dependent students and $57,500 for independent students, of which no more than $23000 may be subsidized.

- Loan funds will disburse directly to Roberts Wesleyan College and be applied to the Student Account.

 

 

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