Additional Loans
All students' financial aid awards are originally packaged to an estimated Direct Cost of $29,612 (Full-time Tuition, Fixed Fees, and Room & Board).
Students have the option of borrowing up to the Cost of Attendance. The estimated 2009-2010 Cost of Attendance for full-time students is $33,612.
- Full-time Tuition - $22,044
- Room & Board - $7,188
- Technology & Activity Fees - $380
- Books & Supplies Allowance - $800
- Transportation Allowance - $1,600
- Personal Expense Allowance - $1,600
The Office of Financial Aid encourages all students to borrow responsibly. The federal student loan programs generally provide better terms and conditions including a lower interest rate and fewer fees, therefore, we recommend borrowing federal loans prior to borrowing any private alternative loans. In order to receive federal loans, students must complete the Free Application for Federal Student Aid (FAFSA), to apply online go to the FAFSA website.
FEDERAL PARENT PLUS LOAN
(DEPENDENT STUDENTS ONLY)
It is recommended you apply before August 1, 2009 for the 2009-2010 academic year if you want the funds available for fall semester payment.
After May 1, 2009 you may complete your PLUS Loan Application online (includes preapproval).
Processing a Federal Parent PLUS loan for 2009-2010:
- Choose a lender from Carroll College's Lender Comparison List. FASTChoice helps you determine which loan is right for you by providing detailed information for various loans, as well as the terms and benefits offered by different lenders. You may choose a lender not on our list; If you choose a lender not listed contact the Financial Aid Office for your next steps.
- Complete your PLUS Loan Application here (includes pre-approval). If you have chosen Wells Fargo for your PLUS loan you will need to apply and follow the directions from the Wells Fargo web site: https://www.wellsfargo.com/student/apply
- Complete the PLUS Loan authorization form .
ADDITIONAL LOAN OPTIONS (ALL STUDENTS)
PLEASE NOTE: ADDITIONAL LOAN APPLICATIONS FOR THE 2009-2010 ACADEMIC YEAR WILL BE ACCEPTED BEGINNING June 1, 2009.
- Prior to completing a student alternative loan application you must complete alternative loan counseling on-line at Mapping Your Future. You must do this each time you take out a new loan. Disbursements will be held until on-line counseling is completed.
- Lender Comparison List: FASTChoice helps you determine which loan is right for you by providing detailed information for various loans, as well as the terms and benefits offered by different lenders.
Factors to consider when you are looking for an additional loan:
- Method of determining the interest rate of the loan/credit scoring
- Types of repayment plans
- Early repayment options
- Other borrower benefits
- Late payment penalties
- Origination fees, up-front fees, back-end fees
- Opportunity for forbearance (example: during graduate school)
- Cosigner requirements
- Length of repayment term
A sample of some of the thousands of additional loans available on-line or through lending institutions is listed for your information on our web site. The sample includes the most common additional loans used by Carroll College students over the last ten years. Students are free to borrow from any lender they choose. If you have questions or would like to request application forms, contact the lending institutions or our office at 1-800-992-3648, ext. 5425 or 406-447-5425.
QUESTIONS?
Please contact us at fao -is-at- carroll -dot- edu.
