Loans offered by the U.S. Department of Education and private lenders may help cover all or part of a college education.
Federal Direct subsidized and unsubsidized low interest loans and are available to all students who submit a FAFSA.
Federal Direct Loans are available to all students who submit a FAFSA. Please review your Colby-Sawyer Financial Aid award letter for your qualification amounts. For more information visit studentaid.ed.gov.
STEP 1: Master Promissory Note |
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To be completed by student. |
Go to www.studentloans.gov and log in with your FSA ID. |
Select "Complete Loan Agreement (Master Promissory Note)." |
Select "MPN for Subsidized/Unsubsidized Loans." Follow the prompts to complete the MPN and submit. |
Colby-Sawyer will receive notification within 1 to 2 business days after the MPN has been completed. |
STEP 2: Entrance Counseling Session |
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To be completed by student. |
Go to www.studentloans.gov and log in with your FSA ID. |
Select "Complete Loan Counseling (Entrance, Financial Awareness, Exit)." |
Select "Entrance Counseling (Required)." |
Follow prompts to complete the counseling and submit, selecting "undergraduate" as your student type. |
Colby-Sawyer will receive notification within 1 to 2 business days after the Entrance Counseling has been completed. |
If you were awarded a Federal Direct Student Loan and want to decline all or part of your loan, email the Financial Aid Office at cscfinaid@colby-sawyer.edu and specify which portion you are declining (unsubsidized, subsidized, or both) to update your award.
The Federal Direct PLUS Loan is a federal loan for parents of dependent undergraduate students, with a fixed interest rate and minimal credit requirements.
The Federal Direct PLUS Loan is a federal loan for parents of dependent undergraduate students. It is a fixed interest rate loan and has minimal credit requirements. Parents may borrow up to the cost of attendance minus any other financial aid the student receives. For more information on terms, interest rates, and repayment options, visit the Federal Student Aid website.
STEP 1: Loan Application |
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To be completed by parent. |
Go to www.studentloans.gov and log in using your parent FSA ID. |
Select "Apply for a Direct PLUS Loan." |
Select "Direct PLUS Loan Application for Parents." Follow prompts to complete application and submit. |
Colby-Sawyer receives notification within two business days after the application has been completed. |
STEP 2: Master Promissory Note |
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To be completed by parent. |
Go to www.studentloans.gov and log in using your parent FSA ID. |
Complete the following only if you are approved for a parent PLUS Loan and wish to take the loan. |
Select "Complete Loan Agreement (Master Promissory Note)." |
Select "PLUS MPN for Parents." Follow the prompts to complete the MPN and submit. |
Colby-Sawyer receives notification within two business days after the MPN has been completed. |
When completing the Federal Direct PLUS Loan application, you will have the option of entering a specific loan amount, or you can select the maximum option.
If you are denied a Federal Direct PLUS loan you have several options.
Private student loan lenders selected for customer service, borrower benefits, interest rates, fees, repayment options and lender stability.
Private loans are student loans that typically require a credit worthy co-signer. Colby-Sawyer can provide a list of lenders who may serve your needs, however, you are not obligated to choose from these suggested lenders and may secure private loans at any time with the lender of your choice.
This list of alternative loan lenders has been researched using a variety of criteria including quality customer service, borrower benefits, interest rates, fees, repayment options and lender stability. Borrowers are encouraged to review the terms and conditions of each program prior to selecting a lender. Please do not hesitate to contact the Financial Aid Office to discuss alternative loans in greater detail.
View private loan recommendations at the Elm Select website by searching for Colby-Sawyer College.