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Loans

Federal Direct Loans

Federal student loans are available to help cover the cost of higher education for students who are enrolled at least half-time (six credits).

HOW IT WORKS:

Subsidized Federal Direct Loans are available to degree-seeking undergrad students who demonstrate financial need.

Interest is waived on subsidized loans as long as a student is enrolled full time. Upon graduation or dropping below full time (12 credit) status, interest will begin to accrue.

The Unsubsidized Federal Direct Loan is not based on financial need; interest is charged throughout the life of the loan. Students can choose to make monthly interest payments or allow interest to capitalize. If interest is capitalized, it is added to the principal balance of the loan and the Department of Education will charge interest on the new principal amount. This option will increase the total amount repaid over the life of the loan.

TO APPLY:

File a FAFSA

Once financial aid eligibility is determined, you will receive a financial aid award letter. You may accept all or a portion of the awarded loans.

BEFORE LOAN FUNDS CAN BE DISBURSED, YOU MUST COMPLETE:

Entrance Counseling – An online counseling session that helps guide you in managing your student loans, both during and after your program.

Master Promissory Note – A legal document in which you promise to repay your loan(s).

Federal Direct Loan Details

Federal Direct Parent PLUS Loans

A credit-based unsubsidized loan for parents of dependent students.

HOW IT WORKS:

PLUS loans are available to parents of dependent undergraduate students enrolled at least half time in an eligible program at an eligible school. These are low-interest, unsubsidized loans available to parents to supplement their children's aid package, up to the school's cost of attendance. Please keep in mind that there is a 4.248% origination fee on the Parent PLUS Loan.

TO APPLY:

File a FAFSA

Once financial aid eligibility is determined, you will receive a financial aid award letter. You may accept all or a portion of the awarded loans.

Log in to StudentLoans.gov using your (the parent) FSA ID

  • Accept the disclaimer
  • Click on ‘Apply for a Direct PLUS Loan’
  • Click ‘Start’ on ‘Direct PLUS Loan Application for Parents’ (second option)
  • Complete by following online instructions

BEFORE LOAN FUNDS CAN BE DISBURSED, YOU MUST COMPLETE:

Master Promissory Note – A legal document in which you promise to repay your loan(s).


Parent PLUS Loan Details

ALTERNATIVE EDUCATION LOAN PROGRAM

Private education credit-based loans that are offered by several financial lending institutions.

HOW IT WORKS:

These loans can be utilized in addition to or in lieu of federal direct loans. Prospective borrowers may qualify for loans or other assistance under the Title IV, Higher Education Act (HEA) programs. Terms and conditions of the Title IV, HEA program loans may be more favorable than the provisions of the private education loans. You have the right to select an eligible lender; University of Jamestown will process the request in compliance with federal and institutional packaging guidelines.

University of Jamestown maintains a preferred listing of private lenders through which private loans have been processed for students. Loan options can be compared and applications accessed from choice.fastproducts.org. For a more in-depth look and comparison of participants in the Private Loan program visit finaid.org. We will certify a private loan through any lender for an eligible student, whether that lender is on our preferred lender listing or not.

Private Alternative Loans (FASTChoice)

OURPeople
Katie Dunphy

WE’RE HERE TO GUIDE YOU THROUGH FINANCIAL AID

Our financial aid department is staffed with experts who are ready to answer your questions and help you through the process.

Committed to helping you succeed — both in your career and in your life

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