Goshen College, Federal Subsidized Direct Student Loans!

Goshen College
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This is the same college that refuses to play our National Anthem! Stand-up America do what is right! They can accept our money but not our Flag and National Anthem. You can not accept a hand-out on one-hand and kick us in the BUTT, on the other!

Student Loans

Students who have unmet need after gift aid is awarded are eligible  for a Federal Subsidized Direct Student Loan. For students without unmet  need after gift aid is awarded and for independent students who need  more loan funds than allowed by the subsidized loan maximums, Federal  Unsubsidized Direct Loans are offered.

Goshen College’s participation in the Federal Direct Student Loan  Program will make the process of applying for and receiving student  loans simpler. If you are eligible for a student loan as determined on  your FAFSA, the amount of your eligibility will be noted on your  financial aid award. When you have indicated to us your wish to borrow,  you must complete a Loan Master Promissory Note and an Entrance  Interview both of which can be done online. Once this happens, the funds  can be then applied directly to your student account.

Year at GC Limits
(0-29 credits)
$ 5,500
Independent students can get an additional $ 4,000
(30-59 credits)
$ 6,500
Independent students can get an additional $ 4,000
Junior & Senior
(60 credits until graduation)
$ 7,500
Independent students can get an additional $ 5,000

Federal Perkins Loans

A Federal Perkins Loan is a low-interest (5 percent) loan for both  undergraduate students with exceptional financial need. Federal Perkins  Loans are made through a school’s financial aid office. Your school is  your lender, and the loan is made with government funds. You must repay  this loan to your school.

PLUS Federal Loans

Parents of dependent students can take out loans to supplement  their children’s aid packages. The federal Parent Loan for Undergraduate  Students (PLUS) lets parents borrow money to cover any costs not  already covered by the student’s financial aid package, up to the full  cost of attendance. PLUS loans have a fixed interest rate of 7.9 percent.  Repayment begins after the loan is fully disbursed for the year, and the  repayment term is up to 10 years. Parents also need to complete a  Master Promissory Note before the money can be disbursed to their  student’s account. To apply for a Federal PLUS Loan, please complete the  application below and follow the URL to complete the Master Promissory  Note.