As an undergraduate
student at The University of Findlay, you are eligible to apply for loans
through the William D. Ford Federal Direct Loan Program
. Through the federal
program, you can obtain federal funds directly from the U.S. Department of
Federal Loan Programs
Stafford Loan Program -
If you file a FAFSA and
are enrolled at least half time, you may qualify for a Stafford Loan, which is
a long-term, low-interest loan.
As an undergraduate
student, you may borrow up to $5,500 in Federal Direct Loans your first year,
with the dollar amount increasing as you progress academically. The FAFSA and
your cost of education will determine how much you can borrow. Your enrollment
level also plays a role in your loan eligibility, but you must be enrolled at
least half-time, which requires at least six hours of credit in a term. There
is no requirement to demonstrate financial need.
Parent PLUS Loans –
Your parents may also have
the option of applying for a Parent PLUS loan if you are enrolled at least
half-time. The loan is in the parent’s name, but on your behalf, and is credit-based.
Parent PLUS loans have a fixed interest rate of 6.41%. Click here
to learn more.
Private Loan Options
You may wish to consider one of the alternative
loans that are available to undergraduate students in lieu of the Direct Parent
PLUS Loan. As the borrower, you must initiate the loan, which must subsequently
be certified by the Financial Aid Office. Generally, you must be creditworthy,
and a cosigner must be creditworthy as well. Click here
to see a list of loan companies that the University recommends.
While you may be able to borrow without a
cosigner, having a cosigner may reduce the fees and/or the interest rate on the
loan. A careful review of interest rates and their trends may be of value as
you decide whether the Direct Parent PLUS or the alternative loan is the right
choice for you. Please use the following link to explore some private loan