Loans are always an option as a financial aid resource. But, loans do need to be paid back and often with interest. College loans should be considered carefully, especially what your pay-back plan will include. You can apply for loans at any time throughout the academic year.
Below are the maximum amounts you can borrow each academic year in federal Stafford loans:
Your “year” is determined by the number of credits you have completed:
Freshman = 0 – 44 credits
Sophomore = 45 – 89 credits
Junior = 90 – 134 credits
Senior = 135 – 180
We strongly encourage you to apply for federal loans before seeking education funding through a private loan. If you decide to pursue a private education loan, the ELMSelect website can help you make an informed decision. This site allows you to quickly and accurately compare interest rates and loan terms of multiple private loan lenders side by side.
The Marylhurst Office of Financial Aid follows a strict code of conduct in providing guidance to students who are seeking private education loans.
Not finding what you need? We’re here to help. Contact the Financial Aid team and we’re happy to answer your questions.