Federal Loans
Federal student loans require payment, but typically not until after you cease being enrolled in college at least at a half-time level. Parent loans, such as the Federal Parent Loan for Undergraduate Students (PLUS), require payments while the student is in school beginning 60 days after the loan is fully disbursed. Both types
of loans typically offer low-interest rates and long terms.
PLUS Loan
Details
Eligibility: Borrower must be parent of student
Amount: Cost of attendance less other financial aid
Benefit: Fixed, affordable monthly payments
Program: Federal
Perkins Loan
Eligibility: Need-based
Amount: Up to $4,000 yearly
Benefit: Deferred repayment until after graduation
Program: Federal
Subsidized Stafford Loan
Details
Eligibility: Need-based
Amount: $3,500-$5,500 depending on class year
Benefit: Deferred repayment until after graduation
Program: Federal
Unsubsidized Stafford Loan
Details
Eligibility: All students
Amount: $3,500-$5,500 depending on class year
Benefit: Long-term repayment
Program: Federal
Apply for a PLUS Loan:
- Visit
www.studentloans.gov
- Look for the "Manage My Direct Loan" box
- Sign in using your FAFSA PIN number
- Complete the PLUS request process.
Private Loans
Private or alternative loans can provide a source of funding if you have exhausted all sources of federal student aid. All students are encouraged to apply for federal student loans through the
Free Application for Federal Student Aid (FAFSA) prior to applying for private education loans. Federal student loans may have more favorable terms than private education loans.
Below is comprehensive list of the private education loan lenders that
Hendrix students have used within the last three years.It is not
a preferred lender list. It is important that you compare the terms and conditions of the loans before you commit to a particular lender.If you wish to use another lender not listed below, Hendrix will honor the lender of your choice and certify loans from other private education loan companies.