Frequently Asked Questions

IRS Data Retrieval

  • Students are Selected for Verification by the Department of Education
  • Receiving Federal Funds Requires FAFSA Data to be Accurate
  • Students are Less Likely to be Selected if Data Retrieval is Completed

Payment Options

  • Option 1: Full payment by August 15 (Fall Semester) or January 15 (Spring Semester)
  • Option 2: Apply for a Federal Plus Loan (Credit Check Required)Option 3: Secure an Alternative Loan Through a Private-Sector Banking Institution
    • Interest rate: 7.21%
    • Origination fee: 4.292%
    • If taken out in parent's name, grace period must be requested from lender
      For More Information, Visit the U.S. Department of Education

Loan Information

IMPORTANT: A FAFSA Must Be Completed Before Federal Aid Eligibility Can Be Determined

U.G. Federal Subsidized Loan U.G. Federal Unsubsidized Loan
Eligibility Need Based Financial Need Not Required
Interest Rate 4.66% 4.66%
Origination Fee 1.073% 1.073%
Interest Accrual Begins After Grace Period Immediately, and Capitalized
Grace Period Ends 6 Months After Last Class Ends 6 Months After Last Class

Note: First Time Recipients of Federal Loans Must Complete the Master Promissory Note and Entrance Counseling at

Award Acceptance

Note: All Gift Aid is Automatically Accepted

  • Awards Can be Accepted Online, or by Completing a Paper Copy and Returning it to the Financial Office
  • Total Amounts of Funds Will be Divided Equally and Applied to Both Semesters of an Academic Year
  • The Terms and Conditions Must be Accepted Before the Award