Student Loans

Student loans can be both a blessing and a curse for college students. On the one hand, student loans can make a college education more accessible, allowing those without the financial resources to attend college and gain the skills they need to succeed. On the other hand, student loans can be difficult to pay back and can leave students with a significant burden of debt. The key is to understand the risks and rewards associated with student loans and to make an informed decision before taking on any loan. With the right knowledge and preparation, student loans can be an invaluable tool for achieving your educational goals

Direct Subsidized and Direct Unsubsidized Loans from the U.S. Department of Education (ED) help eligible students pay for higher education. (Direct Subsidized and Direct Unsubsidized Loans are sometimes called Stafford Loans, but these aren’t the official loan names.)

Direct Subsidized Loans have better terms and are only available to undergraduate students who demonstrate financial need on the FAFSA. The US Department of Education will pay the interest on a subsidized loan while you are in school.

Undergraduate and graduate students, regardless of financial need, are eligible for Direct Unsubsidized Loans. Although you do not have to begin making payments on an unsubsidized loan until you drop below half-time enrollment, interest will accrue and capitalize while you are enrolled.

Amount

Dependent undergraduate students may borrow up to these amounts:

  • Freshmen: $5,500 (of which a maximum of $3,500 may be subsidized).
  • Sophomores: $6,500 (of which a maximum of $4,500 may be subsidized)
  • Juniors: $7,500 (of which a maximum of $5,500 may be subsidized)
  • Seniors: $7,500 (of which a maximum of $5,500 may be subsidized).

Independent undergraduate students may be eligible for additional unsubsidized funding of up to $5,000 for juniors and seniors and an additional $4,000 for freshmen and sophomores. Dependent students can also use these extra funds if their parent(s) are unable to qualify for a Parent PLUS Loan.

Borrowing limits for graduate students are set at $20,500.

In your financial aid package, Ecclesia will provide a maximum loan amount, although you can borrow less. If necessary, you may request more loan money (up to the maximum offered). Only borrow what you actually need.

Direct PLUS Loans are federal loans that may be offered by the U.S. Department of Education to parents of dependent undergraduate students. The parent is responsible to pay back this loan, not the student.

Amount

  • The maximum Direct PLUS Loan amount you can borrow is the cost of attendance minus any other financial assistance your child receives.

Private student loans are offered by banks or other private lending institutions.

Amount

  • Ecclesia College can only certify a loan up to the cost of attendance less all other financial aid. We strongly encourage you to take out the maximum available in federal student loans before applying for alternative student loans.