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KCOM Biomedical Sciences

FAFSA : General Information : Credit : Federal Work-Study : Tuition and Budget : Loans Available at ATSU : ATSU Policies

Loans Available at ATSU

Subsidized Federal Stafford Loan Signature Loan (Private)
Unsubsidized Federal Stafford Loan Short-term and Emergency Loans
Federal Graduate PLUS Loan  

Federal

Subsidized Federal Stafford Loan

Amount: An $8,500 per year maximum exists, with the aggregate for undergraduate and graduate studies at $65,500.

Interest: Interest does not begin accruing for borrowers until repayment begins. The interest rate throughout repayment is fixed at 6.8%.

Conditions: The borrower must fill out a FAFSA need analysis to demonstrate financial need. This loan is given out in halves when tuition is due.

Repayment: The borrower has up to 10 years to repay this loan. Each borrower will go into repayment six months following graduation or withdrawal, unless the borrower qualifies for an economic hardship deferment. If a borrower experiences financial difficulty, forbearance may be requested.

Grace Period: Each borrower has a six-month grace period for the Subsidized Federal Stafford Loan. The grace period must be used up before the borrower is eligible for deferment or forbearance.

Unsubsidized Federal Stafford Loan

Amount: A $10,000 per year maximum exists, for a nine month academic year, in addition to the Subsidized Federal Stafford Loan. The total aggregate for Subsidized and Unsubsidized loans during undergraduate and graduate studies is $138,500 .

Interest: Interest begins accruing for the borrower when funds are wired to the school. The interest rate throughout repayment is fixed at 6.8%.

Conditions: The borrower must fill out a FAFSA need analysis to determine the financial need. This loan can be used to replace an expected family contribution. It is given out in two equal disbursements when tuition is due.

Repayment: The borrower has up to 10 years to repay this loan. Each borrower will go into repayment six months following graduation or withdrawal, unless the borrower qualifies for an economic hardship deferment.

Grace Period: Each borrower has a six-month grace period for the Unsubsidized Federal Stafford Loan. The grace period must be used up before the borrower is eligible for deferment or forbearance.

Federal Graduate PLUS Loan

Amount: Up to Cost of Education minus other financial assistance

Interest: Interest begins accruing for the borrower when funds are wired to the school. The interest rate throughout repayment is fixed at 8.5%.

Repayment: The borrower has up to 10 years to repay this loan. Deferment and forbearances are available during post-graduate training.

Fees: 3% is shaved off of all PLUS funds as an origination fee.

Private

Signature Loan

Amount: The borrower may receive funds up to the cost of attendance, minus other financial assistance received.

Interest: Interest begins accruing for the borrower when funds are wired to the school. The interest rate is based on the prime rate and the borrower's credit history.

Conditions: Students must pass the lender's credit check to be approved for this loan. This loan is normally given out in halves when tuition is due.

Repayment: The borrower has up to 25 years to repay this loan. A borrower may choose graduated repayment if necessary.

Grace Period: Each borrower has a six-month grace period for the Signature Student Loan.

Fees: There are no fees taken out of the Signature Student Loan at disbursement. Instead, the fees are added on before repayment, based on borrower's credit history. This loan is not paid off if the borrower dies.

Short-term and Emergency Loans

Students experiencing temporary cash flow shortages may receive short-term or emergency loans. These funds are intended to help students deal with unexpected expenses such as medical bills or major car repairs. Students sign a promissory note and pay back the loan when their financial aid is wired to the institution. Twelve percent simple interest is charged on all loans. Remember to allow for the decrease in the next financial aid disbursement when preparing a budget.