admissions
My Colby-Sawyer Experience
"At the end of the day, you have to do the work. It's especially hard in a creative field because professors don't want something you did in ten minutes."
- Marc Pederson, Hogan Center staff, Colby-Sawyer student, business owner
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applying for loans
Federal Stafford Loan
Entrance Loan Counseling
All students borrowing under the Federal Stafford Loan Program for the first time at Colby-Sawyer College are required to complete Entrance Loan Counseling at mapping-your-future.org (see link below). These checklists are designed to educate student loan borrowers of their rights and responsibilities.
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First time borrowers must complete the |
Federal Stafford Loan details
Federal Stafford Loans are low interest loans that may be subsidized (need-based) or unsubsidized (non need-based). For the 2008-2009 academic year the interest rate for subsidized Federal Stafford Loans for undergraduate students is 6.0%. Unsubsidized Federal Stafford Loans will have a fixed interest rate of 6.8%.
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Students are encouraged to research different lenders at www.elmselect.com. You are not required to choose one of these lenders; you can choose any lender you wish. |
Parent Federal PLUS Loan
The Parent PLUS Loan is a federally insured loan for parents of dependent under-graduate students. It is a fixed interest rate loan that requires no collateral and has minimal credit requirements. Parents may borrow up to the cost of attendance less any other financial aid the student receives. The PLUS interest rate is fixed at 8.50%. Repayment of PLUS Loans begins 60 days after the final disbursement. In-school forbearance may be available for parents who are experiencing financial difficulty while their child is in school. Interest does accrue during this in-school forbearance period.
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Parents are encouraged to research different lenders at www.elmselect.com. You are not required to choose one of these lenders; you can choose any lender you wish. |
Alternative Loans
Alternative loans are private loans for students to help finance all or part of their cost of attendance at Colby-Sawyer College. Before applying for any of the loans, be sure you have exhausted all other means and have applied for need-based financial aid and have received a decision from the Financial Aid Office. The student is the borrower, and most often, will need a credit worthy co-signer. The student has the choice of repaying the loan while in school, paying interest only, or deferring payments until they are out of school (interest accrues). Interest rates can vary with different lenders, as well as fees. These loans are private loans specifically used for educational expenses and are limited to the cost of attendance. Colby-Sawyer College suggests a number of lenders from which to choose from and will gladly process a loan from one not listed. We recommend that you select the one that best fits your financing needs and educational goals.
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All borrowers are encouraged to research different lenders at www.elmselect.com. You are not required to choose one of these lenders; you can choose any lender you wish. |
