Student Loans FAQ
I accepted my loans however myBanner still says I have missing requirements, what do I need to do?
If you are a first time loan borrower you are required to complete Entrance Loan Counseling and a Master Promissory Note. Click here for instructions to complete these requirements. The Entrance Counseling will go over important information concerning taking out federal loans and the Master Promissory Note is how you electronically sign to the terms of the loan. Please allow 3-5 business days from the time you complete the requirements for the requirement to be satisfied on your myBanner account. If you are unsure of the requirements on your account please contact us.
I am graduating in December. Do I accept half of my loans?
No, accept the full amount & contact the Office of Financial Aid & Scholarships to request we cancel your winter semester eligibility.
What is the difference between subsidized and unsubsidized loans?
Visit our loan information page for more information about loan options.
Do I have to accept my loans(s)?
In order for a loan to pay toward your balance, you are required to accept the loan in your myBanner account. If you are unsure if you want to borrow the funds, you are able to leave your loans in an "Offered" status. You are also welcome to decline the loan offer. If you decline a loan offer and later decide that you would like to utilize it please contact the Office of Financial Aid & Scholarships to have that offer reinstated either in full or for a partial amount in myBanner.
How do I apply for an alternative loan?
Visit our alternative loans webpage for more information.
When I apply for an alternative loan, how does the money get disbursed to my account?
Loan proceeds are applied to outstanding balances first and any excess is refunded to the student.
What is the maximum I can borrow in an alternative loan?
The max is the amount left after you take your Cost of Attendance (COA) minus all accepted aid. If you would like to discuss specifics, please contact us.
What is the Parent PLUS loan?
The Parent PLUS loan is a credit based loan taken out by a parent. The parent is the responsible party when it comes to repayment. Visit our Federal Parent PLUS Loan page for more information.
What happens if my parent is not approved for the Parent PLUS loan?
If a parent applies for the PLUS loan and are not accepted due to adverse credit the student may be awarded additional unsubsidized loan. Freshman/Sophomore level students may receive up to $4000/year and Junior/Senior level students may receive up to $5000/year. If you are eligible to receive additional unsubsidized loan the Office of Financial Aid & Scholarships will follow up with you to discuss your eligibility and options. You may also contact us once a parent has been denied to discuss having this aid added to your account.