Apply for a Loan
Direct Stafford Loans | Direct Plus Loans | Private Loans
1. Federal Direct Stafford Loans (Subsidized and Unsubsidized) Endicott College participates in the Federal Direct Loan Program. In this program, the federal government acts as the student loan lender. The Federal Direct Stafford Loan provides federally insured funds of up to a maximum of $3,500 for first year students, $4,500 for second year students, and $5,500 for third and fourth year students. The 2015-2016 rates for the undergraduate Federal Direct Stafford loans are 4.29% for the subsidized loans and 4.29% for all unsubsidized loans. There is also a 1.068% origination fee deducted from each loan disbursement. All undergraduate students are eligible to borrow up to $2,000 in an unsubsidized Federal Direct Stafford Loan in addition to the annual loan limits listed above.
Application Instructions: In order to be eligible for Direct Stafford loans, students must complete the FAFSA and the Endicott College Financial Aid Application.
All new borrowers must also complete the Federal Direct Stafford Loan Entrance Counseling and the Master Promissory Note as part of the Federal Direct Stafford Loan process. Please visit Entrance Counseling and Master Promissory Note for more information.
2. Federal Direct Plus Loans for Parents of Dependent Undergraduate Students Endicott College participates in the Federal Direct Loan Program. In this program, the federal government acts as the student loan lender. Loan funds are available to credit-worthy parents of dependent students through the federal government. These loans are not based upon financial need and parents may borrow up to the cost of attendance minus financial aid annually for each dependent, undergraduate student. The interest rate is fixed at 6.84% with a 4.272% origination fee deducted from each disbursement. Repayment for PLUS loans may be deferred until after the student ceases to be enrolled at least half time, however, interest will begin accruing as soon as the loan is disbursed to the College.
Application Instructions: To apply for a 2015-2016 Federal Direct PLUS Loan please visit www.studenloans.gov, login, and click "Request a PLUS Loan".
All new borrowers must also complete the Master Promissory Note as part of the Federal Direct Plus Loan process. Please visit Entrance Counseling and Master Promissory Note for more information
3. Private Loans Private loans are an option for students and families to assist them in paying for educational expenses that are not covered by other types of financial aid. It is strongly recommended that you apply for federal aid first as federal loan programs often have more favorable terms than private loans. While we want to make information on loan borrowing available to all eligible participants, we by no means want to advocate unnecessary borrowing. We recommend a student borrow conservatively and only what they need.
Endicott College invited lenders to provide information about their education loan products through a Request for Information (RFI) process. The College reviewed the information provided, and based upon that information, identified options as having competitive rates, good customer service and attractive borrower benefits. Endicott College strictly adheres to a Code of Conduct for Education Loans in the selection of private loan lenders.
Application Instructions: To help our students and their parents navigate the increasingly complex private loan landscape, Endicott College has partnered with a company called Elm Select. To review a list of commonly used private loan options that the College has evaluated and found to be reputable, please visit Elm Select. You are welcome to borrow from any lender of your choice without penalty whether or not that lender is listed on the website. Students who borrow a private loan will be required to complete an application and a Self-Certification Form. Both of these forms will be provided by the selected loan provider. You will need the college's Cost of Attendance to complete the Self-Certification Form.
We will be happy to answer questions or provide information as you identify the loan options that will best suit your family's needs.