Loans
Federal Unsubsidized Student Loan Supplement
The amount varies up to $4,000 per year for grade levels one and two; $5,000 per year for grade levels three through five. Students must first file the Free Application for Federal Student Aid (FAFSA) and meet all other federal eligibility requirements. Students must be enrolled for at least 6 credit hours each semester.
Subsidized – A need-based loan. The government pays the interest for you while you are in school at least half time.
Unsubsidized - This loan is not need-based, and the government does not pay the interest while you are in school. However, you do have the option to pay on it while you are still in school.
Federal Parent Loan for Undergraduate Student (PLUS)
The amount of loan is limited to the cost of education minus financial aid. The amount of the loan may vary for each application. Students must be enrolled for at least 6 credit hours each semester.
PLUS Loan for Graduate Students
The amount of the loan is limited to the cost of education minus financial aid and Stafford Loans. The amount of the loan may vary for each application. Students must be accepted into the Graduate program and be enrolled for at least 3 hours each semester.
Federal Subsidized/Unsubsidized Stafford Student Loan Program
The amount varies up to $3,500 per year for grade level one (1); $4,500 per year for grade level two (2); and $5,500 per year for grade levels three (3) through five (5). Eligibility is need-based. This is a government-insured loan. Students must first file the Free Application for Federal Student Aid (FAFSA) and meet all other federal eligibility requirements. Students must be enrolled for at least 6 credit hours each semester.
Alternative Loan Options
Alternative loan options, sometimes referred to as private loans, can supplement the other forms of aid a student generally receives. While we cannot suggest a specific lender to a student, we do maintain a historical list of loan companies that our students have used in recent years. Our lender list can be accessed through the following link: MBU Alternative Lenders