Financial Aid Awards

Adjust Your Award Package

After you have determined your needs, adjust your awards package. If you wish to reduce or decline any aid, you may do so on Bearcat Web. Refer to " Award > Accept Award Offer".  If you need to reduce loans, you will wish to keep the most favorable loan(s) that you have been offered.

 

The following loan programs are offered at Lander:

 

Perkins Loan: 5% interest. Interest does not accrue while in a degree-seeking program at least half-time. Awarded to students with the highest financial need, subject to fund availability.

 

Subsidized Stafford Loan: effective July 1, 2008 through June 30, 2009, 6.00% fixed interest rate. Interest does not accrue while in a degree-seeking program at least half-time. Awarded to students based on need. Subject to annual loan limits. ($3500 for freshmen, $4500 for sophomores, $5500 for juniors and seniors, $8,500 for graduate students.) 

 

Unsubsidized Stafford Loan: effective July 1, 2008 through June 30, 2009, 6.80% fixed interest rate. Interest does accrue while in a degree-seeking program at least half-time. Need is not a requirement. Awarded to students based annual loan limits. (Beginning 2008-2009, up to $5500 for freshmen, $6500 for sophomores, $7500 for juniors and seniors, and $20,500 for graduate students.) Additional Unsubsidized Loans are available to independent students and to dependent students whose parents have been denied a PLUS loan.  Freshmen and sophomores may be eligible for up to $4000 per year with a parent loan denial;  juniors and seniors, $5000.

 

Parental PLUS Loan: effective July 1, 2008 through June 30, 2009, 8.50% fixed interest rate. Awarded to parents up to the Cost of Attendance Budget after all other available student aid has been applied. Subject to a credit decision by the lender. Parents may elect to replace student loans with additional PLUS loans by notifying the Office of Financial Aid.  PLUS loans enter repayment while the student is in school. 

 

Additional information regarding student loans is available on our loans page.