Subsidized Direct Student Loans are available to students who demonstrate financial need, based on their FAFSA. The interest on Subsidized Federal Student Loans is paid by the government while you're in school. More about Subsidized Direct Student Loans
Unsubsidized Direct Student Loans, unlike subsidized ones, are available to students regardless of financial need. More about Unsubsidized Direct Student Loans
The Federal Perkins Loan is a low-interest loan for students with exceptional financial need. More about Perkins Loans
If you are a dependent student, your parents can borrow a PLUS Loan to pay for education expenses that aren't covered by other financial aid. More about PLUS Loans
If you have exhausted more attractive options such as the Federal Direct Student Loan programs and Marywood University’s Payment Plan through Nelnet Business Solutions, you may want to consider an Alternative Private Student Loan if funds are still needed. Alternative Private Student Loans should be considered only as a last option as they carry high interest rates and/or fees. Application and credit requirements vary with each lender. We provide a suggested list as a courtesy to our students. Marywood University does not receive any benefit, financial or otherwise, from any student loan provider. Our goal is to provide a limited amount of lenders that will provide the best loan offerings, electronic loan certification, customer service, and reliability of the program. Of course, you are not obligated to use our suggested list.
The Higher Education Opportunity Act of 2008 (HEOA), effective February 14, 2010, mandated a number of changes to provide a significant amount of additional information from the lender to students who choose to utilize Alternative Private Student Loans. These new requirements could delay the receipt of approvals and disbursements. Please plan accordingly and be proactive – contact your chosen lender throughout the process with any questions/concerns you may have.
For information about federal student aid from the U.S. Department of Education, visit www.studentaid.ed.gov.