Federal Perkins Loan -
demonstrating need for financial aid may
be eligible for a Federal Perkins Loan from
the college. A Federal Perkins Loan is a
low-interest 5% loan for students with
exceptional need. The repayment period and
interest do not begin until nine months after
the student leaves college.
Federal Direct Subsidized Loan
This is a loan program available
to students who are found to have a
financial need. This low interest loan enables
students to borrow from participating
lending institutions to help pay their
educational costs while attending college.
Repayment does not begin until six months
after the student graduates, leaves college,
or is enrolled less than half time.
Federal Direct Unsubsidized Loan -
Students who may not be eligible for any or
all of the Stafford Loan may apply for the
difference through the Unsubsidized Loan.
This federal loan is a non-need based loan
program and is designed to assist eligible
students by providing additional funds to
meet the cost of education. Contact the
Financial Aid office for more information.
Direct PLUS -
The Direct Parent Loan for
Undergraduate Students (PLUS) enables
parents with good credit histories to borrow
to pay the education expenses of each child
who is a dependent undergraduate student
enrolled at least half time. Information on
interest rates and repayment requirements
are available by contacting the Financial Aid
office. Form more information about Direct
PLUS Loans go to studentaid.gov.
- Students receiving
a Federal Direct Loan or Perkins Loan
must attend an entrance counseling
session. Students may complete Direct
loan counseling by logging on to www.
studentloans.gov. Students receiving a
Perkins Loan must complete entrance loan
counseling at www.mappingyourfuture.
org. When a student graduates, withdraws
or goes less that half time, he/she must
complete exit loan counceling to receive
information pertaining to the repayment of
the loans received.
Alternative Loans -
A number of private
lenders have education loans. A student may
borrow up to the budget established for an
academic year less any financial aid. This
loan is in addition to those funds already
awarded either on campus or from outside
sources. A borrower must have a credit
history or have a credit-worthy co-signer
on the loan(s). If students are interested
in pursuing an alternative loan, contact the
Financial Aid office.
State Aid -
The North Dakota University
System administers grants, scholarships and
other financial incentives to higher education
students and graduates. More information is
available online atwww.ndus.edu/students/
Nursing Student Loan -
This loan is
available for students majoring in Nursing.
The maximum amount for the academic
year is $2,000. Interest is 5% and begins
to accrue nine months after a student
graduates, withdraws, drops below half-
time status, or changes majors. For more
information go towww.ndbon.org
Native American students enrolled
in a tribe should contact their local tribal
agency concerning eligibility and awarding of
Bureau of Indian Affairs funds.
North Dakota National Guard -
active North Dakota National Guardsman
presently serving in either the Army
Guard or the Air Guard may have a large
percentage of the tuition and fees per
academic year waived. For information
on eligibility requirements, contact a local
National Guard unit or the Office of Adjutant
General, ATTN: MPO, P.O. Box 5511,
Bismarck, ND 58506-5511.
Veterans Administration (VA)
Veterans may be able to receive
special educational assistance. Benefits