To apply for federal loans, student borrowers must be enrolled at least half-time. Eligibility is determined through the FAFSA and the student must be certified as eligible by the University.
For more information on the loan application process click the links below:
Apply for Direct Stafford Loans
• The FAFSA is the application for the Stafford loans, so if you have already completed the FAFSA, the Financial Aid Office will send you an award letter indicating how much in loans you qualify for at Grace Christian University, up to the maximum loan amount allowed per student. (Cost of Attendance limits apply).
• Students wishing to accept their Stafford loans must complete the Master Promissory Note (MPN) at https://studentaid.gov/mpn. The MPN is your promise to the Department of Education that you will pay back the federal loans. After the MPN is completed, the Department of Education will notify the Financial Aid Office.
|Direct Federal Stafford Loans|
|Dependent Students||Subsidized + Unsubsidized =Total|
|1st year undergrad||$3,500 + $2,000 = $5,500|
|2nd year undergrad||$4,500 + $2,000 = $6,500|
|3rd year (up to graduate)||$5,500 + $2,000 = $7,500|
|Independent Students||Subsidized + Unsubsidized =Total|
|1st year undergrad||$3,500 + $6,000 = $9,500|
|2nd year undergrad||$4,500 + $6,000 = $10,500|
|3rd year (up to graduate)||$5,500 + $7,000 = $12,500|
Direct PLUS loans are available to a parent with a good credit history to pay the education expenses for a child who is a dependent undergraduate student enrolled at least half-time. Eligibility is determined through the FAFSA and the student must be certified as eligible by the Financial Aid Office.
In some instances, a student may still need additional loans to cover the remainder of their school bill. Private loans are available to help students meet costs that are not covered by federal, state, and institutional aid.
Apply for a private loan at ELMSelect.
When a student withdraws or graduates from college, if they borrowed Direct Stafford Loans, they are required to complete the Loan Exit Counseling. This process helps a student understand their rights and responsibilities with the loans that they borrowed. To complete your Loan Exit Counseling requirements, please visit https://studentaid.gov/exit-counseling.
Also, the National Student Loan Data System (NSLDS) provides students with a centralized, integrated view of Title IV loans and grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. Just click the above link to login.
If you have any questions as you complete the counseling requirements you may email the Financial Aid Office at firstname.lastname@example.org, or call 616-538-2330.