Financial Aid: Student Loans

William Jewell College has made applying for Federal Stafford and Private undergraduate student loans easy by offering a borrower-initiated process. The student's financial aid award will indicate the eligible amount per semester.

The FAFSA is required by William Jewell to process any Federal loan proceeds. Before completing the loan application, you are encouraged to visit www.fafsa.ed.gov to complete the FAFSA so that there are not delays in processing.

William Jewell College provides a recommended FFELP lender list with Simple Tuition based on past experience and qualifications; however borrowers are not limited to only these FFELP options. Should you choose to borrow from a lender not provided, contact your lender of choice regarding Prom Note completion. All loans are electronically certified online by the College's Financial Aid Office prior to disbursement and received via Electronic Funds Transfer (EFT) thru ELM Resources.

Stafford Loan Features

Maximum borrowed amount per academic year, based on academic eligibility - $3,500 first-year; $4,500 second-year; $5,500 third & fourth-year
Effective May 2008 all students are eligible for an additional $2,000 unsubsidized loan per academic year
Independent students and/or dependent students whose parent is denied a Federal PLUS Loan may be eligible for an additional amount per academic year based on academic eligibility - $4,000 first and second-year; $5,000 third and fourth-year
Student must be enrolled at least half-time (6 hours)
A 2.0% origination fee and a 1.0% default fee may be deducted by the Lender or Guarantor
No repayment required until 6 months after student graduates or ceases to be enrolled at least half-time
5.6% Fixed interest rate on Subsidized loans (deferred interest); 6.8% Fixed interest rate on Unsubsidized loans (interest accrued)
Loan Entrance Counseling must be completed prior to funds disbursement.

To select a lender, simply access William Jewell College's comparison tool brought to you by Simple Tuition. You may choose to apply by phone however additional requirements will need to be completed such as signing the promissory note. By completing this process online you will have the option to sign the prom note online by completing the E-signature requirement.

The William Jewell College Code of Conduct regarding lender relations is available for public review.

Federal Perkins and Nursing Loans

The Perkins Loan is based on demonstrated financial need by the FAFSA. The Perkins Loan is a subsidized (interest deferred) loan with a 5% fixed interest rate. The Perkins Loan also carries a 9 month grace period before repayment begins after graduation (or dropping below a half-time enrollment).

Loan forgiveness of a Perkins Loan may be available for students pursuing designated career paths such as teaching, nursing, law enforcement, and social services.

The Federal Nursing Loan is similar to the Perkins Loan without the loan forgiveness opportunities.

A Personal and Confidential Form must be completed for Perkins and Nursing Loan processing. Submit this form to the Student Loan Coordinator at William Jewell College, 500 College Hill Campus Box 1028, Liberty, MO 64068.

Private, Alternative Loan

William Jewell College certifies many private, alternative loans for students who need help covering additional educational expenses. Simple Tuition offers WJC students an easy tool to determine what their approximate repayment will be for many loans that Jewell recommends.

Notice that these loans do not require immediate repayment. If you decide to apply for a loan not provided, please inquire with your lender about deferment options. Because these loans are private, their interest rates are based off the Prime interest rate, not the Federally guaranteed rate that your Stafford or PLUS loan have. The interest amount above or below Prime will be determined by your credit and your co-signer's credit should you apply with a co-borrower. Not all lenders require a co-signer; however one may be necessary if you do not have an established credit history. The repayment information provided is a best case scenario as borrower specific information is not entered into Simple Tuition's site. The lending institution will evaluate the application and calculate the accurate repayment information.

Visit William Jewell College's Simple Tuition website to find the private loan that meets your borrowing needs. For additional lending options visit www.certifiedprivateloans.com.

Loan Counseling

Counseling sessions are required twice during your collegiate career.

Loan Entrance Counseling

Loan Exit Counseling

Entrance Counseling is required of all first-time Stafford Loan borrowers prior to disbursement of student loan proceeds.

Questions may be directed here.

Exit Counseling is required of graduating seniors and students withdrawing from William Jewell College.

Questions may be directed here.

Other Tools

Loan Calculator	Debt/Salary Wizard	NSLDS	GreenNote.com
Student loan calculators help you get an estimate of what your future monthly payments would be for your student loans.	How much money do you need to earn to make the payments on your student loans? The Debt/Salary Wizard will help.	The National Student Loan Data System (NSLDS) allows student access to your Financial Aid Review of all outstanding loans reported to the Department of Education.	Borrow from family & friends through greennote.com. GreenNote assists students in financing their education by borrowing money from family and friends. GreenNote facilitates repayment at a fee and distributes funds back to the lending family members.

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