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Office of Financial Aid Code of Conduct


 Financial Aid at SU - Student Loans

Schreiner University works with the following FFEL and state educational loan programs:

• Federal - Subsidized Stafford Loans
• Federal - Stafford Unsubsidized Loan for Dependent Students
• Federal - Stafford Unsubsidized Student Loan for Independent Students
• Federal - Parent PLUS Loan - Partnership with Parents Subsidized
• State of Texas - B-On-Time Loan & College Access Loan (CAL)
• Alternative Loan Programs

 
Federal Loans:


Subsidized Stafford Loans

This is a need based loan program that provides low interest loans to students who are attending Schreiner at least half-time. If you are eligible for a Stafford Subsidized loan, the federal government pays the interest on the loan while you are enrolled in school at least half-time (6+ credit hours per semester). Annual loan limits are:

$3,500 – First Year Students (0-29 credit hours completed & accepted by Registrar)
$4,500 – Second Year Students (30-59 credit hours completed & accepted by Registrar)
$5,500 – Third & Fourth Year Students (+60 credit hours completed & accepted by Registrar)
$8,500 – Graduate & Professional Students
________________________________________

Stafford Unsubsidized Loan for Dependent Students

This is non-need based program that provides low-interest loans to students who are attending Schreiner at least half-time. This loan is available to dependent students who do not demonstrate financial need. The student is responsible for the interest that accrues on the Stafford Unsubsidized loan during in-school and deferment periods. Loan limits have been increased to $2000 per academic year – in addition to year specific loan limits.

PLEASE NOTE: ADDITIONAL UNSUBSIDIZED LOAN MONEY MAY BE AVAILABLE TO DEPENDENT STUDENTS IF THE PARENT HAS APPLIED FOR AND BEEN DENIED A PARENT PLUS LOAN.
________________________________________

Stafford Unsubsidized Student Loan for Independent Students

This loan is available to independent undergraduate and graduate students.

The annual loan limits are:
$6,000 -- First & Second Year Undergraduates
$7,000 -- Third & Fourth Year Undergraduates
$7,000 -- Students with undergraduate degrees who are enrolled in courses that will prepare them to enter a graduate program, as well as students enrolled in coursework for professional certification or employment as a teacher.
$12,000 -- Graduate students
 

Loan Type Interest Rate
Undergraduate Unsubsidized
Stafford Loan
6.8%

Undergraduate Subsidized
Stafford Loan


6.0% on or after July 1, 2008
& before July 1, 2009

5.6% on or after July 1, 2009
& before July 1, 2010

4.5% on or after July 1, 2010
& before July 1, 2011

3.4% on or after July 1, 2011
& before July 1, 2012

6.8% on or after July 1, 2012
 

Graduate Unsubsidized
Stafford Loan

6.8%

Graduate Subsidized

Stafford Loan

6.8%

Parent PLUS Loan

8.5%

Apply for a Stafford Loan:

View the Stafford, Plus and Alternative Lender List Guidelines @
http://www.schreiner.edu/financial_aid/SU2008-2009Lenders102908.pdf

Step 1.
Complete a FAFSA at:  http://www.fafsa.ed.gov

Step 2. Review your award letter from the Office of Financial Aid. Determine your cost using the award letter insert. Once you’ve determined how much of the offered loan you need to pay your expenses, continue to step 3.

Step 3.
Accept and Complete Your Stafford Student Loan Application at: https://lbw.tgslc.org/LBW/start.do

Repayment of principal and interest begins six months after the student ceases the course of study or six months after the borrower ceases at least half-time enrollment. The borrower will be assessed a small guarantee fee. Maximum subsidized loan debt is $23,000 for undergraduates and $65,500 for graduate or professional study.

Loans By Web Instructions: http://www.schreiner.edu/financial_aid/LoansbyWebinfo.pdf
 
GradPlus Loan for Graduate Students

Please contact the Office of Financial Aid for additional information: finaid@schreiner.edu
 
State of Texas Loan Programs


College Access Loan (CAL)

For details concerning this loan program, please view the CAL Fact Sheet:
http://www.hhloans.com/borrowers/calfactsheet.cfm

Funds are limited – Contact the Office of Financial Aid for more information.

To Apply:
https://helmnet.thecb.state.tx.us/borrowers/apply/Update_App.asp?AppType=AL&LoanType=CAL

B On Time Loan Funds are limited and eligible students will be notified by the Office of Financial Aid.

 

Alternative/Private Loan Programs   (Non-Federal/State Programs)


There are several alternative loan programs available for students who need additional money to pay for educational expenses, or if you aren't eligible for Federal Stafford Loans. Interest rates and fees are tiered based on you and/or your co-borrower's credit history.

http://www.schreiner.edu/financial_aid/SU2008-2009Lenders102908.pdf
 
Managing or Repaying Your Student Loans

For Students who are planning to graduate, transfer, drop below half time enrollment, or withdraw -


The link below will provide you with detailed information concerning:

· Mapping Your Future Exit Counseling
· Managing Your Student Loan Repayment
· Repayment Calculator
· Managing Credit and Debt
· Handling Default
· Consolidation Issues- Customer Service Representatives and Consolidation Calculator options
· Teacher Loan Forgiveness Program
· Forbearance and Deferment Information
· Student Access to the National Student Loan Data System

http://www.tgslc.org/borrowers/index.cfm
 

The Office of Financial Aid at Schreiner University is committed to assisting students in obtaining the best financial aid award possible. However, it is the student’s responsibility to comply with all requirements necessary to complete the financial aid process. In addition, the Office of Financial Aid is not responsible for the student's financial obligations to Schreiner University. Each student must verify their account balance and make arrangements for any amounts not covered by financial aid.


 

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