What Aid is Available?
Loan Opportunities
The following is a list of our Loan Opportunities which
vary by eligibility, borrower, interest rate and repayment terms.
- Stafford Loan: A Stafford Loan is a low interest loan provided
by the federal government and the student is the borrower. Payment
on both the principal and the interest is deferred while in school.
Stafford Loan maximums are: freshman (0-29 credits)-$3500; sophomore
(30-59 credits)-$4500; junior and senior (60 credits and above)-$5500.
Some lenders do charge loan fees to process the Stafford Loan.
- Unsubsidized Stafford Loan: For dependent students, loan
maximums are the same as the Stafford Loan; however, the amount of
this loan is determined by subtracting Stafford eligibility. Dependent
students may borrow full unsubsidized loan if the parent is denied
a PLUS loan. Independent students may borrow up to $4000 at the freshman and sophomore level. The amount increases to $5000 at the Junior and Senior level. Principal
is deferred while in school, but interest is due quarterly.
- PLUS Loan: Loan maximum is the cost of education minus other
aid; the parent is the borrower; principal and interest can be defferd,
contact the lender for more information.
- For additional information on Stafford, Plus, and Alternative loans, you may visit: www.selectyourlender.com/alvernia.
Updated:
June 13, 2007
Your comments
are welcome.
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