Skip navigation

Loan Options


  • As you set to embark upon your higher education journey, there are many new experiences that may weigh heavily on your mind. Cost shouldn't be one of them. There are many opportunities at the local and federal levels to seek out college loans and a wealth of resources at your fingertips.

    Take a moment to review some of the options and rates available to better help you make your choice. 

  • Federal Direct Student Loan (subsidized)

    Program

    Federal Direct Student Loan (subsidized)
    Undergraduate students with financial need

    Amount/Interest

    Amount: Up to $5,500
    Interest: Fixed 4.29% (1.073% fee)

    How to Apply

    File FAFSA*, complete Master Promissory Note (MPN) and Entrance Loan Counseling.

    Federal Direct Student Loan (unsubsidized)

    Program

    Federal Direct Student Loan (unsubsidized)
    Undergraduate/Graduate students with or without financial need

    Amount/Interest

    Amount: Up to $7,500
    Interest: Fixed, 4.29% (1.068% fee), Undergraduate rate

    Graduate: Up to $10,250/semester
    Interest: Fixed, 5.84% (1.068% fee)

    How to Apply

    File FAFSA*, complete Master Promissory Note (MPN) and Entrance Loan Counseling.

     

    Federal Perkins Loan

    Program

    Federal Perkins Loan
    Students with greatest need (limited number available)

    Amount/Interest

    Amount: $500 - $2,000
    Interest: Fixed, 5.0%

    How to Apply

    File FAFSA; awarded by Financial Aid Office, complete Perkins Master Promissory Note

     

    Federal Direct Parent PLUS Loan

    Program

    Federal Direct Parent PLUS Loan
    Parents borrowing for a dependent student

    Amount/Interest

    Amount: Up to the cost of education less aid received
    Interest: Fixed, 6.84% (4.272% fee)

    How to Apply

    File FAFSA, and parent complete PLUS Master Promissory Note and PLUS Loan application

    Federal Direct Graduate PLUS Loan

    Program

    Federal Direct Graduate PLUS Loan
    Graduate students with financial need

    Amount/Interest

    Amount: Up to the cost of education less aid received.
    Interest: Fixed, 6.84% (4.272% fee)

    How to Apply

    File FAFSA, and student complete PLUS Master Promissory Note and PLUS Loan applicatio 

    Alternative Educational Loans

    Program

    Alternative Educational Loans
    Students with a credit-worthy co-signer

    Amount/Interest

    Amount: Up to the cost of education less aid received.
    Interest: Fixed or Variable, tied into Prime or LIBOR rate

    How to Apply

    www.elmselect.com
    http://pennsylvania.privateloanmarketplace.com/