• Home
• Current Students
• Prospective Students
• Parents and Families
• Alumni and Friends

• Admissions Full Time
• Admissions Part Time
• Academics
• Athletics
• Bookstore
• Computer Support
• Continuing Education
• Counseling Department
• Dental Health Center
• Emergency Procedures
• Employment
• Faculty/Faculty Web
• Financial Aid
• Learning Center
• Library
• Professional Development
• Student Learning Outcomes
• Student Life
• Registrar
• Ukrainian Heritage Ctr

Student Loan Programs

Federal Family Education Stafford Loan (FFEL) Program

This federally funded loan is made by a lending institution. A student must complete a loan application from a bank and guaranteed by the Federal Department of Education or Manor College’s Financial Aid Office. The applications are available in the Financial Aid Office. More info.

William D. Ford Direct Loan

This federally funded loan is made directly through the College. The Federal Department of Education is the Lender. The student will be mailed a promissory note which must be signed and returned to the Manor College Financial Aid Office. A loan application from a lending institution is not needed.

Federal Stafford Loans

Manor College participates in the William D. Ford Federal Direct Stafford Loan Program and the Federal Family Education Loan Program (FFELP) . The major differences are the source of the loan funds, application process and available repayment options.

Stafford loans are either subsidized or unsubsidized. A subsidized loan is awarded on the basis of financial need and the federal government pays the interest on the loan until the end of your grace period. The grace period is a six month period after a student graduates, leaves school or ceases half time enrollment. An unsubsidized loan is not based on need. Interest payments begin when the loan is disbursed. A student either makes quarterly interest payments or defers the interest and capitalizes it. Capitalization means the interest will be added to the principle and increases the amount to be repaid.

A student must be enrolled at least half-time(6credits) to qualify for a Stafford Loan. A full-time freshman(0-29credits) may borrow up to $2, 625.00 per year. Full-time sophomores (30+credits) may borrow up to $3,500.00 per year. Stafford loans for part-time students are calculated on a prorated basis. The interest rate is adjusted annually. The interest rate will not exceed 8.25 percent.

Federal Perkins Loan Program

This is a federally funded program administered by the college to full and part time students based on demonstrated need. The interest rate is 5 percent and repayment begins 9 months after a student graduates, withdraws or drops below half-time enrollment. More info.

Parent Loan for Undergraduate Students

This federally funded loan is made to a credit worthy parent. The parent may borrow an amount up to the cost of attendance less any other financial aid. A parent may choose a Direct Loan through the College or obtain a Loan Application through a Participating Bank. Repayment on PLUS loan begins 60 days after the check is fully disbursed to the College. If a parent is denied for a PLUS loan, a dependent student is then eligible for an additional unsubsidized loan up to $4000 per year. More Info.