Loans

IMPORTANT --- Please Read
Included in the Health Care and Education Reconciliation Act of 2010 (HCERA) President Obama signed into law in March were major changes to the student loan program.  Specifically, the Act abolished the Stafford and PLUS Loan programs in which Mount St. Mary’s students and parents participated through lending institutions such as Sallie Mae, Citibank, Bank of America, etc.  Beginning July 1, 2010, the University will participate exclusively in the William D. Ford Federal Direct Loan program, in which borrowers obtain loan funds directly from the US Department of Education.

This means that all currently enrolled students and parents who have borrowed in the Stafford and PLUS Loan programs must now borrow in the Direct Loan program.  For instructions on how to begin the Direct Loan application process, select the appropriate link below.  Information is also being provided with your initial 2010-11 awards letter.

First-time borrowers should also follow the links below.  To determine how much you are eligible to borrow, please refer to your award letter and the amount listed for either the Stafford or Direct Loan program.

These changes do not affect the procedures in place for alternative student loans.

ALTERNATIVE STUDENT LOAN
CODE OF CONDUCT
DIRECT STUDENT LOAN – General Information
DIRECT LOAN PLUS
DIRECT LOAN STUDENT
PERKINS LOAN