|
Home > College Offices > Student Financial Services > Types of Financial Aid > Student Loans > Student Loans FAQ
Student Loans FAQ
Student Financial Services
|
Contacts
|
Forms & Deadlines
Frequently Asked Questions
Mount Holyoke is a "direct lending" institution. What does this mean?
"Direct lending" refers to the fact that certain federal loans are processed through the William D. Ford Direct Loan Program. The United States Department of Education is the lender so there is no third party lender involved. All Federal Direct Student Loans (FDSL) are processed through this program. We also request that parent borrowers seeking a federal parent loan, complete a Pre-Application Federal Direct PLUS. Email Student Financial Services if you have any questions.
Can I increase the amount of my loan?
You should email Student Financial Services regarding your loan amounts. Some loans have annual or federal limits.
What other loans are available for me to borrow as a student? As an international student?
We recommend that a student maximize her federal loan borrowing eligibility before seeking additional loan funding. There are many alternative loan options available.
An international student can also borrow alternative loans if she has a credit-worthy co-borrower who is a U.S. resident or eligible non-citizen.
What if I do not wish to accept the loans included in my financial aid package? If I decline the loans for this year, will it effect my financial aid package next year?
If you do not want to accept any loan awarded to you, please email Student Financial Services and relay your intent. The loan will be deducted from your financial aid package. There will be no detrimental effect on any subsequent financial aid packages.
|
