Educational Loans Program Who is Eligible Amount Interest How to Apply Federal Direct Student Loan (subsidized & unsubsidized) Undergraduate students with or without financial need Up to $7,500 Fixed 5.05% (1% fee) File FAFSA*, complete Master Promissory Note (MPN) and Entrance Loan Counseling Federal Direct Student Loan (unsubsidized) Graduate students with or without financial need Up to $20,500 Fixed, 6.60% (1% fee) File FAFSA and MPN Federal BSN Nursing Loan Students with greatest need (limited number available) $500 - $5,200 Fixed, 5% File FAFSA; awarded by Gannon Financial Aid Office Federal Direct Parent PLUS Loan Parents borrowing for a dependent student Up to the cost of education less aid received Fixed, 7.60% (4% fee) File FAFSA, and parent complete PLUS Master Promissory Note and PLUS Loan application Federal Direct Graduate PLUS Loan Graduate students with financial need Up to the cost of education less aid received. Fixed, 7.60%(4% fee) File FAFSA, and student complete PLUS Master Promissory Note and PLUS Loan application Alternative Educational Loans Creditworthy Parents/Sponsors; Students with a creditworthy co-signer Up to the cost of education less aid received Fixed or variable, tied into Prime or LIBOR rate Lender options can be found at www.elmselect.com * Free Application for Federal Student Aid Exit Loan Counseling Upon graduation or withdrawal from the University, you must complete the federal Exit Loan Counseling requirement. Payment Options After your aid has been finalized and credited to your bill, you will be responsible for the remaining balance. There are a number of ways to help meet the difference. Private Education Loan Disclosures Free or lower-cost Title IV federal, state or school student financial aid may be available in place of or in addition to a private education loan. The terms and conditions for federal loans may be more favorable than private loans. To apply for Title IV federal grants, loans and work study, submit a Free Application for Federal Student Aid (FAFSA) available at www.fafsa.ed.gov, or by calling 1-800-4-FED-AID, or from the school's financial aid office. A private education loan may reduce eligibility for free or lower-cost federal, state or school student financial aid. You are strongly encouraged to pursue the availability of free or lower-cost financial aid with the school's financial aid office.