贷款
An education loan is a form of financial aid that must be repaid, with interest.
Eligibility may be based on 成本 of Attendance and financial need for the loan. Each loan type comes with certain eligibility requirements and terms that must be met.
Federal 贷款
Federal Direct Subsidized 贷款
Federal Direct Subsidized 贷款 (Subsidized 工作人员ord 贷款) are need-based, available only to undergraduates, and do 不 accrue interest while a student is enrolled in school at least half-time or during deferment periods.
如何申请
- Students must complete a Free Application for Federal Student Aid and other forms as required.
- Borrowers must complete an entrance counseling 和一个 Master Promissory Note.
Maximum award amount
| 一年 | Dependent Students | Independent Students |
|---|---|---|
| 新生 | $3,500 | $3,500 |
| 二年级的学生 | $4,500 | $4,500 |
| 初中 & 老年人 | $5,500 | $5,500 |
Loan repayment
Six months after you terminate your education or cease to be enrolled half-time, repayment of your loan(s) begins. Repayment, in most cases, must be completed within 10 years.
All Federal Subsidized Direct Loan borrowers must complete an exit interview before graduation, withdrawal or leaving Frostburg State, even though they may plan to return at some time in the future.
Federal Direct Unsubsidized 贷款
Federal Direct Unsubsidized 贷款 (Unsubsidized 工作人员ord 贷款) are non-need-based and do accrue interest while a student is enrolled. This loan is available to undergraduates and graduate/professional students.
如何申请
- Students must complete a Free Application for Federal Student Aid and other forms as required.
Maximum award amount
| 一年 | Dependent Students | Independent Students |
|---|---|---|
| 新生 | $5,500 ($3,500 subsidized) | $9,500 ($3,500 subsidized) |
| 二年级的学生 | $6,500 ($4,500 subsidized) | $10,500 ($4,500 subsidized) |
| 初中 & 老年人 | $7,500 ($5,500 subsidized) | $12,500 ($5,500 subsidized) |
| Graduate/Professional | 不 applicable | $20,500 |
Aggregate Loan Limits
There are limits on the total amounts that you may borrow for undergraduate and graduate study (aggregate loan limits).
- Undergraduate dependent student borrowing is by limited annually by academic grade level, 不 to exceed $31,000 ($23,000 of which is subsidized loans).
- Undergraduate independent student borrowing is 不 to exceed $57,500 ($23,000 of which is subsidized loans).
- Graduate student borrowing 不 to exceed $138,500 ($65,500 of which is subsidized loans) including undergraduate loan balances.
Federal Direct PLUS 贷款
Direct PLUS 贷款 are available to the parents of undergraduate students (Parent PLUS) and to graduate and professional students (Grad PLUS). Direct PLUS 贷款 have a fixed interest rate for the life of the loan. The maximum PLUS loan amount you can receive is the cost of attendance minus any other financial aid received.
Loan repayment
Repayment on parent PLUS loans begin after the loan has been fully disbursed, unless special arrangements have been made and finalized between the borrower and lender.
For Grad PLUS loans, you don't have to start making payments until six months after you graduate, 离开学校, or drop below half-time enrollment.
Federal Loan Requirements
All students and parents seeking a federal loan must complete the Annual Student Loan Acknowledgement (ASLA) at least once every award year before any student or parent loan funds can be disbursed. By completing the ASLA, you are acknowledging that you understand that all loans must be repaid, as well as how much you currently owe in federal loans. When completing the ASLA, you will be given data about FSU, 比如成本, graduation rate, 和一个verage total debt borrowed per student based on each student's current program of study. You will also be provided with an estimated monthly loan payment, the amount of loans that you have borrowed so far, as well as program borrowing limits (lifetime aggregate loan limits).
Alternative 贷款
Alternative loans are private education loans 和一个re 不 federally regulated loans. The fees, interest rates, and repayment terms are set by the lender. These loans are only recommended by our office as a last resort.
Self-Certification
All students who are applying for a private loan must complete a self-certification form and return it to their lender before their loan can be approved. This form will be provided to you by your lender; however, you may also obtain the form from us.
List of Alternative Loan Lenders
The university makes a list of several alternative loan lenders that are frequently used by our students. Please keep in mind that you are 不 required to use one of the lenders displayed on this list and Frostburg State does 不 endorse any particular private loan company. These lenders are presented for informational purposes only. The following will enable you to compare popular private loan lenders, as well as provide you with their contact information should you choose to apply.
Frostburg State adheres to the Maryland's College Loan Code of Conduct.
The lenders which appear on the list were chosen because they met carefully selected criteria and offer services we feel are an asset to the students of Frostburg State University.
Loan repayment
Students may check their loan history by logging into the National Student Loan Database for Students. This website provides information on the original amount, disbursed amount, and outstanding balance for each federal loan borrowed by a student. It also provides information on each loan's interest rate 和一个ccumulated interest.
Federal loan repayment plans
It’s important to find the right repayment plan for you in order to manage your money and make timely payments on your student loans after graduation. The government offers a variety of repayment plans to cater to different individuals’ needs. The federal loan repayment plans are listed below:
- Standard Repayment Plan
- Graduated Repayment Plan
- Extended Repayment Plan
- Income Based Repayment Plan (IBR)
- Pay As You Earn Repayment Plan
- Income-Contingent Repayment Plan
- Income-Sensitive Repayment Plan
违约率
Frostburg State's current default rate is 6.6%. A default rate is the percentage of a school's borrowers who entered loan repayment during a specific year and then defaulted on that loan prior to the end of the next fiscal year. If a student has defaulted on a loan, then that student is more than 270 days behind on their loan payment. The national cohort default rate average is currently 9.7%.
纠纷
Students having difficulties resolving a dispute over their federal education loans are given the option of contacting a Federal Student Aid Ombudsman to help find a solution to any problem that they have 不 been able to resolve through other channels.