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Loans
Loan Basics
Over the years, there has been an increase in the percentage of financial aid awarded in the form of loans. Low interest rates have made borrowing attractive for students and families. Loan programs make it possible for millions of students, who previously could not afford it, to obtain a post-secondary education. By spreading the cost of their education over the term of the loan, they can attend the school of their choice.
Available Loans
Federal Stafford Loans
Both undergraduate and graduate students can benefit from low-interest, government guaranteed Stafford Loans. All students are eligible for Federal Stafford loans if they are enrolled at least half-time in an eligible program. Depending on your family's financial situation, you may be eligible for one or both loans.
This loan is based on financial need. The government pays the interest while you're in school, in deferment, or during your grace period.
Unsubsidized Federal Stafford Loan
This loan is available to all students regardless of income. You are responsible for all interest that accrues while you are in school, in deferment, or during your grace period.
PLUS Loans
PLUS Loans (Parent Loan for Undergraduate Students ) are affordable, low-interest educational loans designed to help parents pay for their child's education. Eligibility for these government-guaranteed loans is not based on financial need, but on a good credit history.
Alternative Loans
Alternative loans are private loans through a lending institution and not part of federal government programs. Alternative loans are more expensive than federal government guaranteed loans and should only be used when all other options have been exhausted. Alternative loans are in the student's name and a cosigner is usually required.
For direct consultation and/or assistance on applying for loans, contact our Financial Aid office at (402) 449-2810 to schedule a meeting with a Financial Aid Counselor.
Managing Loans
The federal government provides detailed information on how to manage your loans, including loan repayment, consolidation, default prevention, deferments and forbearance, and forgiveness of student loans.
Loan Counseling
Loan Entrance Counseling
The Entrance Counseling session is required for students requesting loans.This is a tutorial that will take you through what it means to be taking out a student loan. It will take 20-25 minutes to complete and once submitted, the financial aid office is notified via email.
The Federal Government requires all students be counseled regarding your rights and responsibilities as a student loan borrower before you borrow. Your student loan money will not be applied to your bill until this federal requirement is taken care of.
Click on the link below to connect to an Individual Loan Counseling Session.
Loan Exit Counseling
Before you graduate (or if you drop below half-time attendance), regulations require that you complete an exit counseling session. The counseling session provides information about how to manage your student loans after college. Click the link below to complete the session.
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