Loans

What is a loan?

Loans are a form of financial aid that must be repaid, unlike grants and scholarships. Loans can help bridge the gap between your personal resources, other forms of aid, and the cost of attendance. For information on types of loans, interest rates and repayment schedules, visit www.studentloans.gov.

Steps to getting a loan

In order to receive funds from a loan awarded by the Financial Aid Office, you will have to go through the following steps for each loan:

1. File your FAFSA.
2. The Financial Aid Office offers you whatever loans you are eligible for.
3. You tell the Financial Aid Office how much you would like to borrow by completing your estimate on Cyberbear.
4. The Financial Aid Office evaluates your aid and certifies your loans.
5. You complete entrance counseling for your loan.
6. You (or your parent) must sign, or have signed, a Master Promissory Note with the Department of Education. Sign on-line promissory note: Federal Direct Subsidized or Unsubsidized, Federal Direct Graduate PLUS or Federal Direct Parent PLUS. In addition, parents borrowing a PLUS must also complete a Parent Request loan online with the Department of Education.