Loan Programs

Loans allow students and parents to borrow money to meet educational costs at relatively low interest rates. In most cases, repayment is delayed until graduation or an enrollment status of less than six credits. Additional information regarding all loans below is available in the Financial Aid Office and on the college website.

Federal Direct Loans

Federal Direct Loans are available to all students who have completed the FAFSA and are otherwise eligible. Direct Loans are characterized as subsidized or unsubsidized based on the FAFSA in combination with other financial aid awarded to the student. The federal government pays the interest on a Subsidized Direct Loan during the student’s enrollment whereas the student is responsible for paying interest on an Unsubsidized Direct Loan. At the borrower’s choice, the interest on an Unsubsidized Direct Loan can either be paid during enrollment or can be capitalized. A borrower must complete Direct Loan Entrance Counseling and a Master Promissory Note prior to the disbursement of any loan proceeds.

The maximum annual loan amounts for dependent students are:

Freshmen: $5,500 (maximum of $3,500 subsidized)

Sophomore: $6,500 (maximum of $4,500 subsidized)

Junior and Senior: $7,500 (maximum of $5,500 subsidized)

Repayment begins six months after the borrower is no longer enrolled at least half time. The annual fixed interest rate is 3.73% for undergraduates in the 2021-2022 award year.

Federal Parent Loans for Undergraduate Students (PLUS)

Parents of dependent students may borrow funds through the PLUS program. Eligibility requirements include U.S. citizenship and an approved credit rating. Repayment generally begins sixty days after the second disbursement, but may be deferred upon request.

Alternative Loans

The University of Jamestown will certify any alternative education loan that a student requests (up to the student’s cost of attendance).