LOANS
Student loan programs make it possible for individuals to borrow funds to help cover a portion of their educational expenses. The loans, which are long-term and low-interest, enable students to postpone the cost of education until after graduation.
Federal Perkins Loans
Who is considered for a Federal Perkins loan?
- All freshman and sophomore students are automatically considered, but Federal Perkins Loans are typically given to the most financially needy full-time (12 to 18 credits per semester) students.
- First consideration is given to students who complete their financial aid application before April 15 year unless funds are exhausted prior to that date.
Repayment information:
- Repayment begins nine months after the recipient graduates, concludes their education, or is no longer enrolled for at least six credits.
- Repayment may be extended over a ten-year period, with an annual interest rate of 5 percent.
Federal Perkins Loan Application Process
There is an application process for this loan. Click here for more information about the Federal Perkins Loan application process.
Federal Direct Loan Program
All students will be awarded Federal Direct Loans for the 2010-2011 academic year. All returning students will need to complete a new Master Promissory Note for 2010-2011. Please visit www.studentloans.gov to complete the MPN and Entrance Counseling.
Students are eligible to borrow up to the following amounts:
- Freshmen: $5,500 per academic year
- Sophomore: $6,500 per academic year
- Junior & Senior: $7,500 per academic year
Repayment information:
- Repayment begins six months after the recipient graduates, concludes their education or is no longer enrolled for at least six credits.
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Annual interest rate is determined by the federal government
Federal Direct Parent Loan for Undergraduate Students (FDPLUS)
The FDPLUS loan enables parents of dependent undergraduate students to borrow up to the full amount of Point Park University education minus other aid. The annual interest rate is currently fixed at 7.9 percent. A credit check is performed by the lender to determine eligibility.
FDPLUS Loan Credit Check Application
Private Student Loans
Once you and your family have considered all federal, state and other resources and options, you can use the Pennsylvania Private Loan Marketplace to instantly and accurately compare rates and terms from multiple private lenders side-by-side. This will help you make an informed decision about the most appropriate loan for you. The Pennsylvania Private Loan Marketplace displays products from local and national lenders, complete with detailed lists of APR’s, interest rates, total costs, monthly payments, borrower benefits, fees and repayment options.
Point Park University does not endorse any lender either on the Pennsylvania Private Loan Marketplace or any other lender. You have the right to choose any lender for your private loan option and Point Park University will certify any loan from any lender you chose.
Pennsylvania Private Loan Marketplace
Disclosure Information Regarding Pennsylvania Private Loan Marketplace
