Loan Information and Apply for Loans

--Fall 2010 Federal Stafford, Parent Plus/Graduate Plus Loan Borrowers--

--Private Student Loans --

All students who wish to continue receiving Stafford Loans must complete and sign a new Direct Stafford Master Promissory Note (MPN).  All Master Promissory Notes must be completed online.  There are no paper MPN's.

To ensure that you receive your Stafford Loans on time (complete the process listed below at www.StudentLoans.gov) by July 15th 2010.

For information on Stafford Loan Limits CLICK HERE

FALL 2010 FEDERAL STAFFORD LOAN BORROWERS

Go to www.StudentLoans.gov to begin the loan process. Click on Sign In and enter information required (you must know your FAFSA application PIN number in order to sign into the website, if you would like to create or request a duplicate of you PIN number go to www.pin.ed.gov)

1. Enter your e-mail if you would like to receive your correspondence electronically and press update
2. If you have not borrowed a student loan at Saint Peter's College before follow the next steps by clicking on Complete Entrance Counseling, if you are a previous loan borrower skip to number 6
3. Choose your current education level and school  information
4. Read and answer the multiple choice questions
5. When you reach the end  you will get a confirmation Congratulating you on succesfully completing the Entrance Counseling
6. On the left hand column select COMPLETE MPN
7. Select SUBSIDIZED/UNSUBSIDIZED
8. Complete personal information, school information, loan information and personal references information sections
9. Read terms and conditions, review information and sign MPN by typing in your name as it appears on the FAFSA application.
    

FALL 2010 PLUS LOAN programs

PARENT PLUS (Parents for Undergraduates Loan Program) (Go to www.studentloans.gov and have the parent who is applying for the loan log into the website with their FAFSA PIN number)

*Plus Loan application require completion of a Parent Credit check and Master Promissory Note every year in order for processing.  If a Parent Plus Loan is denied by the lender, contact financialaid@spc.edu if you wish to be awarded additional unsubsidized stafford loans.  DO NOT BEGIN THE APPLICATION PROCESS UNTIL JUNE BECAUSE YOUR CREDIT APPROVAL IS ONLY FOR A SPECIFIC TIMEFRAME AND COULD EXPIRE PRIOR TO CERTIFICATION BY THE INSTITUTION.  LOANS ARE NOT CERTIFIED UNTIL STUDENT'S FILES ARE COMPLETED. 

1. Enter your e-mail if you would like to receive your correspondance electronically and press update
2. If you have not borrowed a student loan at Saint Peter's College before follow the next steps by clicking on Complete Entrance Counseling, if you are a previous loan borrower skip to number 6
3. Choose your current education level and school information
4. Read and answer the multiple choice questions
5. When you reach the end  you will get a confirmation Congratulating you on succesfully completing the Entrance Counseling
6. On the left hand column select COMPLETE MPN
7. Select PARENT PLUS
8. Complete Parent and Student personnal information, school information, loan information and  personal references information sections
9. Read terms and conditions, review information and sign MPN by typing in your name as it appears on the FAFSA application.
10. On the left hand column under Plus Loan Process select Request Plus Loan
11. Choose Loan Type and then fill out required information to receive a loan credit decision of either approved or denied

Graduate PLUS Loans 

Graduate students who are matriculated and enrolled at least on a half time basis, have filed a FAFSA and have borrowed under the Stafford Loan Program for the upcoming Fall 2010-11 academic year, can borrow the remaining aid eligibility under the Grad Plus Loan Program.  Follow same steps as Parent plus but choose Graduate Plus Loan and only the students information is required

Alternative/PRIVATE STUDENT LOANS (students or parents)

Have been designed to help students who need additional assistance with educational costs. In most cases, Students try to pursue Unsubsidized Federal Stafford Loans and for parents to pursue Federal PLUS Loans before seeking alternative loans. An advantage of these two programs is that the federal government caps the interest on the loans.

If a student still needs assistance beyond what is available through these loan programs, there are a number of private lenders who offer alternative loans to cover educational expenses.  Each lender offers different rates, fees, repayment terms, and approval requirements. Please look carefully at the loan terms and conditions before choosing a lender.

The following is a list of all Private Student Loans that students or parents at Saint Peter's College have used in the past year*, students and parents can choose any lender and not just those listed below. Saint Peter's College will certify any private loan that students may choose to borrow from.  To fill out an application for a private loan and learn about more features than those listed below please direct yourself to their perspective website.

*All Private Loan Providers information that is being listed has been gathered from the loan companies perspective web sites.