Loan Options

at Saint Francis University

  • SFU Fountain

    As you set to embark upon your higher education journey, there are many new experiences that may weigh heavily on your mind. Cost shouldn't be one of them. There are many opportunities at the local and federal levels to seek out college loans and a wealth of resources at your fingertips. Take a moment to review some of the options and rates available to better help you make your choice.

    Loan Options
    Program Amount/Interest How to Apply
    Federal Direct Student Loan (subsidized)
    Undergraduate students with financial need
    Amount: Up to $5,500
    Interest: Fixed 4.66% (1.073% fee)
    File FAFSA*, complete Master Promissory Note (MPN) and Entrance Loan Counseling.
    Federal Direct Student Loan (unsubsidized)
    Undergraduate/Graduate students with or without financial need

     Amount: Up to $7,500
    Interest: Fixed, 4.66% (1.073% fee), Undergraduate rate

    Graduate: Up to $10,250/semester

    Interest: Fixed, 6.21% (1.073% fee)

     

    File FAFSA*, complete Master Promissory Note (MPN) and Entrance Loan Counseling.
    Federal Perkins Loan
    Students with greatest need (limited number available)
    Amount: $500 - $2,000
    Interest: Fixed, 5.0%
    File FAFSA; awarded by Financial Aid Office, complete Perkins Master Promissory Note
    Federal Direct Parent PLUS Loan
    Parents borrowing for a dependent student
    Amount: Up to the cost of education less aid received
    Interest: Fixed, 7.21% (4.292% fee)
    File FAFSA, and parent complete PLUS Master Promissory Note and PLUS Loan application
    Federal Direct Graduate PLUS Loan
    Graduate students with financial need
    Amount: Up to the cost of education less aid received.
    Interest: Fixed, 7.21% (4.292% fee)
    File FAFSA, and student complete PLUS Master Promissory Note and PLUS Loan application
    Alternative Educational Loans
    Students with a credit-worthy co-signer
    Amount: Up to the cost of education less aid received
    Interest: Fixed or Variable, tied into Prime or LIBOR rate
    www.elmselect.com and www.pennsylvania.privateloanmarketplace.com
    Addison Gibson Foundation Loan Program
    Eligibility requirements are listed on the foundation website.
    Amount: Maximum of $12,000 for Undergraduate students and $18,000 for Graduate students.
    Interest: 2% Annual Interest until one year after graduation when it increases to 5%.
    Schedule an interview with the Addison H. Gibson Foundation in Pittsburgh, PA.

     SFU Request to Reduce or Cancel Loan(s)

    You may request that your loan be reduced or cancelledthrough the Financial Aid Office at Saint Francis University within 30 days* ofthe loan being posted to your student account. Please note if you completelycancel a disbursement of a loan, any pending disbursements will automaticallybe cancelled. If you request a loan with more than one disbursement to bereduced and no disbursements have yet been made, the disbursements will beevenly reduced. All requests must be in writing and include the followinginformation:

    o   Direct Student, Direct Graduate PLUS, and PrivateEducational Alternative Loans — Student must make request, notparent. Please include your name, your SFU ID Number, and the amountyou want the loan reduced to or cancelled.

    o   Direct PLUS Loans — Parent borrower must make request, not student. Please include parent borrower's name, thestudent's name, the student's SFU ID Number, and the amount you want the loanreduced to or cancelled.

    o   Perkins Loans — Student must make request, notparent. Please include your name, your SFU ID Number. 

    *Please note– any loan not returned within 30 days will be the responsibility of theborrower to return to their loan servicer directly.

     

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