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21

Federal Perkins Loan -

Students

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

Program -

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.

Loan Counseling

- 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 at

www.ndus.edu/students/

paying-for-college.

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 to

www.ndbon.org

.

Tribal -

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 -

Any

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)

Benefits -

Veterans may be able to receive

special educational assistance. Benefits

Student Information