Student Loans

Federal Perkins Loan

The Federal Perkins Loan is for undergraduates and graduates. Students must sign a promissory note that explains that this is a loan that must be repaid. The interest rate is 5%.

• For instructions on How to Apply, go to:  http://www.conncoll.edu/admission/financialaid/8362.htm

Federal Stafford Loans

A Federal Stafford Loan  is a government guaranteed loan offering low interest rates and deferred payment options.

There are two types:

•  Federal Direct Subsidized Stafford Loan and
•  Federal Direct Unsubsidized Stafford Loan.

Connecticut College Loan

This modest loan program is funded by Connecticut College to help assist those students who are not eligible to borrow from the federal loan programs. The program carries a 5% fixed interest rate which is deferred until the student ceases to be at least a half-time student. Repayment begins 6 months after the student's withdrawal. All students must participate in entrance counseling before signing the applicable paperwork.

Disbursement of Loans

1. The Federal Stafford Loan, Federal Perkins Loan, and the Connecticut College Loan are normally payable in two disbursements, one-half of the total in each semester and will not be disbursed earlier than 10 days prior to the start of classes.

2. Loan funds will not be disbursed until all necessary paperwork is completed and the student is enrolled in sufficient credit hours. All undergraduates at Connecticut College must be enrolled full-time, normally 16 credit hours per semester.

Last Modified: Tuesday, August 11, 2009 10:41