Loan Information

Federal Stafford Loans	Federal Parent PLUS Loan
Federal Graduate PLUS Loan	Federal Perkins Loan
Federal Nursing Student Loan	Alternative Loans
Loan Consolidation	GLOSSARY

TOP VOLUME LENDERS

We list the following lenders because they are the top volume lenders for Regis University students and because of their participation in the Colorado Loan Servicing Consortium. We do not have any agreements with the lenders listed here, nor do we participate in any revenue sharing. None of these lenders provides the staff at Regis University with gifts or inducements in order to be included on this list.

You are, of course, free to select any lender you wish, whether or not the lender is listed here.

For up-to-date borrower benefits offered by these lenders, visit www.studentloanonline.com

TYPES OF LOANS

Federal Stafford Loans

The Federal Stafford Loan is a federal education loan designed to help students pay for college. Annual and aggregate loan limits are set by the government and based on grade level and dependency status. To apply for a Federal Stafford Loan, students must submit a Free Application for Federal Student Aid (FAFSA). See Application Process on the menu at left for details.

Federal Stafford Loans are subsidized if the student documents financial need according to the information included on the FAFSA. If the loan is subsidized, the federal government pays the interest while the student is enrolled and through the six month grade period after the student has graduated or ceased to be enrolled at least half-time. When repayment begins, the student begins to pay interest on the loan amount. The federal government has set the interest rate for the Undergraduate Subsidized Federal Stafford Loan at 6.0 percent, Undergraduate Unsubsidized Federal Stafford Loan at 6.8 percent, and Graduate Subsidized Federal Stafford Loan at 6.8%.

Students might be able to borrow loan funds beyond the subsidized loan amount even if financial need is not documented. In that case, an unsubsidized loan would be processed. Students are eligible for unsubsidized loans if educational costs remain after all financial aid, loans and scholarships are subtracted by the Financial Aid office (within the annual loan limits). Unlike a subsidized loan, students are responsible for the interest from the time the unsubsidized loan is disbursed until it is paid in full. Students can choose to pay the interest or allow it to accrue (accumulate) and be capitalized (that is, added to the principal amount of the loan). Capitalizing the interest will increase the amount to repay. Students can receive a subsidized loan and an unsubsidized loan for the same enrollment period if the maximum annual limit has not yet been borrowed.

Regis University participates in the FFELP program (Federal Family Education Loan Program). Funds for your FFEL will come from a bank, credit union, or other lender that participates in the program. Students are asked to evaluate the different terms of the loan offerings by participating lenders. Regis University has identified a list of top-volume lenders at the top of this page. Students are free to choose any lender, not just those on the top-volume lender list.

Federal Stafford Loan Limits for 2009

Federal Parent PLUS Loan

Parents of dependent students may borrow the Federal PLUS Loan on the student's behalf. The annual maximum loan limit equals the student's cost of attendance minus any financial aid. There is no cumulative loan limit for a Federal PLUS Loan. Interest capitalization and repayment begin immediately upon loan disbursement with interest set annually, not to exceed 8.5 percent. A federal origination fee and a default fee may be deducted from the principal prior to disbursement. A FAFSA and a Federal PLUS Loan Application are required. Need is not a factor. A credit check is required to ensure that adverse credit history is not present.

For more information on the Federal Parent PLUS Loan, click HERE.

Federal Graduate PLUS Loan

Federal PLUS loan is available to graduate students. To be eligible, a graduate student must be attending Regis University at least half-time (3 credits per term), file a Free Application for Federal Student Aid (FAFSA), apply for the Federal Stafford Loan, and not have any adverse credit when a credit check is conducted.
A graduate student may borrow up to the full cost of education (as determined by the Financial Aid office) less the amount of other financial aid awarded, including Federal Stafford Loans and alternative loans. The estimated cost of attendance includes tuition, room, board, books, personal, transportation and other educationally-related expenses.
The Federal Graduate PLUS interest rate is fixed at 8.5%. Federal loan fees of up to 4% may be deducted from the loan amount prior to disbursement. Graduate PLUS loan repayment begins within 60 days after graduation or dropping below half-time status. Students who are enrolled at least half-time will automatically be placed in deferment status. The standard repayment period is ten years.
Regis University lists top-volume Federal Graduate PLUS loan lenders at the top of this page. Students may choose any lender, not just those on this list. For a copy of the Graduate PLUS brochure, click Your Federal Graduate Plus Loan.

To start an application for Federal Graduate PLUS, graduate students should go to www.studentloanonline.com and open or access their account. Then students can apply for the Federal Graduate PLUS Loan and complete the Master Promissory Note (MPN). After the MPN is completed and Regis University has received the student's FAFSA and other required documents, the student will be sent an award letter by the Financial Aid office showing the amount of loan that has been certified.
Questions or requests for more information should be directed to Enrollment Services representatives at 303-458-4126, or 800-568-8932, or enrolsvc@regis.edu.

Federal Perkins Loan

The Federal Perkins Loan is a federally funded loan with a portion of the loan contributed by Regis University. Loans are made directly by Regis to undergraduate students who provide evidence of financial need through the FAFSA process. Loans are repaid to Regis University. The interest rate is five percent and the payment period begins nine months after the borrower ceases to be enrolled on at least a half-time basis. Loans under this program may not exceed $4,000 per year as an undergraduate student with an aggregate maximum of $20,000. Descriptions of reasons for deferment and cancellation are detailed in the promissory note, which must be signed and returned to Student Accounts. Each year, student receiving a Federal Perkins Loan must sign a Truth in Lending form. This is also discussed with the borrower when he/she leaves the University.

Available to all students with a Perkins Loan

ACS

Make your student loan payments online.
Check the status of your account and verify financial data.
Apply for and submit an unemployment deferment, economic hardship deferment or forbearance for your Perkins Student Loan account.
Change your address and phone number at your convenience.
Download forms.

If you have been awarded a Perkins loan for the current semester, please go to the Financial Counselor website for your entrance interview and e-signature.

Federal Nursing Student Loan

The Nursing Student Loan is a federally funded loan with a portion of the loan contributed by Regis University. Loans are made directly by Regis to nursing undergraduate students who provide evidence of financial need through the FAFSA process. Loans must be repaid to Regis University. The interest rate is five percent and the payment period begins nine months after the borrower ceases to be enrolled on at least a half-time basis. The aggregate maximum for the loan is $13,000. Descriptions of reasons for deferment and cancellation are detailed in the promissory note which must be signed in Student Accounts. Each year prior to the disbursement of funds, students receiving a Federal Nursing Student Loan must sign a Truth in Lending form. This is also discussed with the borrower when he/she leaves the University.

Available to all students with a Federal Nursing Loan

ACS

Make your student loan payments online.
Check the status of your account and verify financial data.
Apply for and submit an unemployment deferment, economic hardship deferment or forbearance for your Nursing Student Loan account.
Change your address and phone number at your convenience.
Download forms.

If you have been awarded a Nursing loan for the current semester, please go to the Financial Counselor website for your entrance interview and e-signature.

For more information on the Federal Nursing Student Loan, click HERE

Private Alternative Loans

Private Alternative Loans can provide funds to assist students in meeting the cost of their education when traditional financial aid and the student's own resources do not cover all expenses. These loans are more expensive than the federal student loans and therefore should not be considered until AFTER you have exhausted all financial aid and federal loan options. These loans must be certified (processed) by the Financial Aid office at Regis University. All of these loans must be considered part of your financial aid package. Some loan products are specialized for particular types of students. Check one of the following choices that matches your profile.

Please note: Non-degree students who are not yet officially admitted to a degree program are not eligible for financial aid and federal loans, but ARE ELIGIBLE to apply for three types of Private Alternative Loans. Choose #3 below for Private Alternative Student Loan options.

Choose One:
I plan to enroll half-time* or more and am admitted to Regis College or College for Professional Studies (non-health related).

I will enroll half-time* or more in one of the health professions programs (nursing, physical therapy, etc.)

I will be a non-degree student (not yet admitted to a degree program)

I plan to enroll (or might enroll) less than half-time*

Show all loan products

*Half-time enrollment is 6 credits per semester for undergraduates and 3 graduate credits per semester for graduate students.

Comments regarding these pages may be sent to Financial Aid

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