Federal Student Loans
FEDERAL PERKINS LOAN
This is a loan program that Connecticut College issues using government funds. The annual interest rate is 5%. Payments are deferred until 9 months after the student is no longer enrolled in at least half time. The government pays the interest that accrues while the student is considered enrolled properly.
How to Apply:
1. Accept the loan by one of the following two ways:
- Log into Self Service on our website.
- Go to your financial aid award where you can accept/decline/decrease your Perkins loan
OR
- Complete and return the 2010 - 2011 Federal Perkins Loan Request form to the financial aid office. You can download this form from: http://www.conncoll.edu/admission/financialaid/8302.htm
2. Complete your Federal Perkins online loan requirements. On or around the first week of August, you will receive an email from the Financial Aid office informing you that the iPromise system is updated with the new academic year requirements. The link is: https://ipromise.campuspartners.com
For more information on new or existing Federal Perkins loans: http://studentaid.ed.gov/PORTALSWebApp/students/
english/campusaid.jsp
FEDERAL DIRECT STAFFORD LOANS
The Federal Direct Stafford loans are issued through the Department of Education. The annual interest rate is determined each year by the federal government. There are two types of loans:
1. SUBSIDIZED: The federal government will pay the interest while you are in school.
2. UNSUBSIDIZED: You are responsible for all interest that accrues on the loan. The interest can be paid quarterly or can be deferred until you leave school.How to Apply
1. Accept the loan by one of the following two ways:
- Log into Self Service on our website
- Go to your financial aid award where you can accept/decline/decrease your Stafford Loan(s).
OR
- Complete and return the 2010 - 2011 Federal Stafford Loan Request Form to the financial aid office.
This form can be found with this link: http://www.conncoll.edu/admission/financialaid/8302.htm2. Borrowers new to the Federal Direct Loan Program (freshmen, transfer students or students that used a different lender last year) MUST COMPLETE THE FOLLOWING
a. A Federal Stafford Loan Entrance Counseling session: follow this link: https://www.dl.ed.gov/borrower/CounselingSessions.do?cmd=initializeContext
b. Complete a Master Promissory Note (MPN): follow this link: https://dlenote.ed.gov/empn/StudentLoanSelector.jsp
Last Modified: Friday, November 20, 2009 15:50