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Hastings College participates in the Federal Direct Loan Program. Through the program, low interest rate federal loans are available from the U.S. Department of Education.
To apply for any federal funds, you must complete a Free Application for Federal Student Aid (FAFSA). In your award letter from Hastings College, you will be notified what loans you are eligible to receive.
Federal Direct Subsidized Stafford Loans
Available from the U.S. Department of Education, Direct Subsidized Stafford Loans are low interest, long-term loans made to students with financial need. No interest or principal payments are required until six months after you graduate, withdraw, or drop below half-time status. Your Direct Subsidized Loan, when combined with your other financial assistance, may not exceed your need.
Federal Direct Unsubsidized Stafford Loans
This program does not take into account your financial need when determining how much money you may borrow. No interest or principal payments are required until six months after you graduate, withdraw, or drop below half-time status. However, you are required to pay or capitalize the interest accruing on the loan while you are in school and a deferment period.
Federal Perkins Loans
Federal Perkins Loans are awarded on a limited basis to students with financial need, with priority consideration given to first year students and sophomores.
Federal Direct Parent PLUS Loans
The Federal Direct Parent PLUS Loan Program assists parents of dependent students in meeting expenses not covered by other financial aid sources. Parents are limited to borrowing an amount equal to the cost of your education fees less your financial aid. Repayment of Parent PLUS Loans begins 60 days after the loan is fully disbursed, although in some financial circumstances, payments may be deferred.
For more information about this program or an application form, please contact the Financial Aid Office at (402) 463-7391 or firstname.lastname@example.org.
Specific federal loan information can vary from year to year.
After filing the FAFSA and exhausting all other possibilities for federal loans and grants for you and your parents, you might still need additional financing through private or alternative loan programs offered by banks. Through FASTChoice, you can find more information.