Shortcuts to: Page Content | Main Navigation | Sub Navigation on Page | Utility Navigation Links | Footer Information

STUDENT LOAN PROCESSING


As Anderson University transitions to the William D. Ford Federal Direct Loan Program we have attempted to answer your questions. Read our Q and A on Direct Loans.

Federal Direct Loans

Eligibility
Your financial aid award letter will state your eligibility for both the Subsidized and Unsubsidized Direct Loan. Visit the Loans section for more information on loan interest rates, maximum amounts, and terms.

PROCESSING YOUR LOAN:

First-time Borrowers

Repeat Borrowers

Top

Federal Perkins Loan

Eligibility
Your financial aid award letter will state your eligibility for the Perkins Loan. Visit the Loans section for more information on loan interest rates, maximum amounts, and terms.

PROCESSING YOUR LOAN:

First-time Borrowers

  • If you do not wish to borrow, or wish to borrow a lesser amount, please contact the Office of Student Financial Services at 1-800-421-1026 or e-mail us.
  • Before receiving your loan funds you will need to sign and complete a Master Promissory Note (MPN) and participate in an Entrance Loan Counseling session, both of which will be done on line. You will first receive an email from SignMyLoan indicating that the MPN for the Perkins Loan that AU is making available to you is ready for you to sign.  Link to SignMyLoan and follow the on line instructions for signing your MPN.

Repeat Borrowers

  • Under the terms of your Master Promissory Note you do not have to sign a new note each year.  However, you will need to accept the loan by logging in to SignMyLoan.com.
  • If you do not wish to borrow or wish to borrow a lesser amount contact the Office of Student Financial Services at 1-800-421-1026 or e-mail us.

Top

Federal Direct PLUS Loan

Eligibility
Only the parent of a dependent student can borrow, on behalf of the student, a PLUS Loan. Visit the Loans section for more information on loan interest rates, maximum amounts, and terms.

PROCESS:

Top

Federal Direct Grad PLUS Loan

Eligibility
Graduate students enrolled at least half time can borrow an amount equal to the cost of education less other financial aid. Visit the Loans section for more information on loan interest rates, maximum amounts, and terms.

PROCESS:

Top

Private Educational Loans

Eligibility
A student loan but usually requiring a credit worthy co-signer (usually the parent).

Private loans are those defined as loans that come from a bank, credit union, or other nongovernmental source.

The following web sites may provide you with useful information in researching lenders offering private educational loans.

These loans are not regulated by the federal government and have adjustable interest rates. The terms of the loans will vary from lender to lender, and the interest rate may be significantly higher than that of Federal Direct Loans (Student, Parent PLUS and Graduate PLUS).

Guide to Alternative Loans - Provided by Student Lending Analytics (SLA), this guide provides you with a comprehensive and independent source of information to assist you in making an informed decision regarding alternative (private) loans. SLA, which provides research and advisory services, has no affiliation with student loan lenders.

Anderson University does not promote specific lenders. You should thoroughly research all options before making your decision.

Due to requirements in the Truth in Lending Act, a lender must obtain a self-certification signed by the applicant before disbursing a private education loan. If you have not provided a signed copy of the applicant self-certification form to your lender, click here to obtain a copy of the form.

Top