Student Loans
Federal Stafford Loans & Federal Perkins
- Low interest, government-guaranteed
- Students must be at least half-time, degree-seeking, and file the FAFSA
- Students must complete “entrance counseling prior to their first disbursement at Brevard College (go to www.mapping-your-future.org)
- Maximum Annual Loan Amounts: Stafford - $3,500, FR; $4,500, SO: $5,500, JR/SR; Perkins - $4,000
- If parents are denied a Parent Loan (PLUS), student may borrow up to $4,000 in an additional Unsubsidized Federal Stafford Loan.
- Principle repayment begins 6 months after ceasing enrollment; Subsidized and Perkins Loans - interest is paid by the government during enrollment and grace period; Unsubsidized Loans - interest begins accruing immediately.
Parent Loans
Federal Parent Loan for Undergraduate Students (PLUS)
- Available to parents of dependent degree-seeking students enrolled at least half-time
- Maximum loan = School’s Cost of Attendance – Financial Aid received
- Repayment begins when loan has been fully disbursed
- If parents are denied a Parent Loan (PLUS), student may borrow up to $4,000 in additional Unsubsidized Federal Stafford Loan.
Selecting a Lender & Applying for A Federal Stafford Loan
- Although Brevard College supplies you with a “Preferred Lender List”, we will promptly certify your Stafford and/or Parent Loan with any lender of your choosing
- Our Preferred Lenders have been selected based on factors relating solely in the best interests of our students, including, but not limited to: whether they sell your loan, repayment benefits, customer service, and student satisfaction. A questionnaire is sent out to potential lenders who might want to be included on our lender list. In addition, a student satisfaction survey will be sent to all currently enrolled students for input. Upon receipt, a committee will review the results and make a determination as to who is included on the lender list for that year.
- We suggest you visit each lender’s website, including one of your choosing, to obtain comparative information about benefits offered by each before you make a final decision.
- Once a lender has been selected, notify the Financial Aid Office of your lender name and lender code (if not one of our preferred lenders)
- The student should complete a Master Promissory Note (MPN) with their lender of choice
- For students new to Brevard College or new borrowers, the student should complete federally-required entrance loan counseling at www.mapping-your-future.org
Brevard College Preferred Lender List
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