|
Federal Stafford Loan (Subsidized and Unsubsidized)* |
|
What is it? |
A loan for undergraduate or graduate students who are enrolled at least half time. The interest rate that is lower than commercial rates, but will vary depending upon when the student first borrowed under the loan program. Annual limits range from $3,500 to $8,500, depending on the grade level. |
|
Will I have to pay it back? |
Yes. Repayment of both principal and interest will begin 6 months after termination of studies, at a minimum of $50 per month. |
|
What do I do after I accept my award? |
If you are a new borrower or if you have changed lenders, you’ll need to sign a Master Promissory Note. (See Selecting a Lender/Guarantee Agency and Promissory Note for Stafford Loans for more details.) |
|
Federal Perkins Loan |
|
What is it? |
A low interest (5%) loan for undergraduate students who are enrolled at least half time and demonstrate exceptional need. NDSU is the lender, and the government provides the funds for the loan. |
|
Will I have to pay it back? |
Yes. Repayment of principal and interest begins 9 months after termination of study. Up to 100 percent of this loan can be canceled if the student meets certain conditions such as teaching in specific low-income schools. |
|
What do I do after I accept my award?
What do I do after I accept my award?
|
You may return the completed forms to Bison Connection or Customer Account Services.
If you are a new borrower, you’ll need to sign the Master Promissory Note (MPN) and complete the Personal Data Form that were sent to you with your original award notice. Please return these forms to either Bison Connection or Customer Account Services. You must also complete (if you have not already done so) Stafford and Perkins Combined Entrance Loan Counseling (Complete AFTER you are admitted to NDSU). You may wish to review your Rights and Responsibilities
|
|
Nursing Student Loan |
|
What is it? |
A low interest (5%) loan for undergraduate nursing students who are enrolled at least half time and demonstrate financial need. NDSU is the lender and the government provides the funds for the loan. |
|
Will I have to pay it back? |
Yes. Repayment of principal and interest begins nine months after termination of studies. |
|
What do I do after I accept my award?
What do I do after I accept my award?
|
First-time loan borrowers need to complete the Nursing Student Loan Program Promissory Note. Subsequent loans require only a signature on the original promissory note for the additional loan amount. Complete online entrance nursing loan counseling annually.
First-time loan borrowers need to complete the Nursing Student Loan Program Promissory Note. Subsequent loans require only a signature on the original promissory note for the additional loan amount. Complete online entrance nursing loan counseling annually. You may wish to review your Rights and Responsibilities |
|
Federal Parent Plus Loan |
|
What is it? |
This is a loan your parents can take out to pay for your education expenses if you are a dependent undergraduate student enrolled at least half-time. |
|
Will my parents have to pay it back? |
Yes. Repayment of principal and interest begins 30-60 days after the final disbursement. Some lenders offer interest only or deferment of interest and principal repayment options while student is in school |
|
How do my parents apply? |
Complete a PLUS loan application available online through their chosen lender. |
*NDSU Student Financial Services and its staff do not endorse or accept any incentives, financial or otherwise, from the lenders listed on our lender list. Lender information is provided as a courtesy and in no way should it be interpreted as a requirement to use one of the listed lenders. NDSU will process loans from any lender that participates in any educational loan programs.