Student Loans

The key to borrowing for your education is borrowing wisely. The Federal Government limits how much a student may borrow per year, which makes it very difficult for students' debt to get out of control. It is possible for students to seek out private sources of educational loans, in which case indebtedness may rise significantly. In this, Jewell advises all students to be wise consumers.

Only 70% of May 2013 graduates at William Jewell borrowed Federal loans. The average of all Federal student loan debt for a four-year graduate at William Jewell College is $26,417, slightly above the $24,000 national average for a degree in four years. Take into consideration that at many institutions it may take five, even six years to graduate, then you can see how Jewell grads borrow less to obtain their degree. Jewell grads also maintain a 4.7% default rate, well below the national average of 13.4%. What does this mean? Jewell grads repay their loans.

Graduates who borrow Federal and private educational loans have a $31,324 average loan indebtedness. 

There are three types of student loans that borrowers may qualify for or pursue:

Federal Direct Loan Program 

  • By completing a FAFSA, you are guaranteed eligibility for a Direct Loan. Direct Loans are low interest student loans funded by the United States Department of Education.

Federal Perkins and/or Nursing Loan Program 

Private Student Loan Program

Student Loan Tools & Resources

Here is a breakdown of how much a student may be responsible for paying after graduation if the maximum allowable Direct Loan is borrowed each year:

# of Years in School Amount Borrowed Monthly Payment* Total Amount Paid*
First-year $5,500 $56.54 $6,638
Two years $12,000 $120.69 $14,483
Three years $19,500 $196.13 $23,535
Four years $27,000 $271.56 $32,588
Five Years $31,000 $311.80 $37,416

*These figures are based on a 10-year standard repayment period; however, the first payment is due six months after graduation or the date of last attendance of at least half-time status. You may contact Direct Loan Servicing for additional repayment options, including in-school deferment and forbearance.

While borrowers have an obligation to repay their student loans, certain situations provide for federal student loans to be forgiven, cancelled, or discharged such as employment, closure of a borrower's school, disability or other circumstances. Consult for a comprehensive listing by student loan program.


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