Taking Out a Student Loan

There are multiple options available for students to receive loans. The Financial Aid office serves students by helping them to use wisdom when considering interest rates, payback options, and the long-term effects of taking out loans.

Before taking out student loans through any private loan company, please consider the following:

  • What is your total need per semester?
  • What are the current interest rates?
    • Variable Rates range from 3.94%-13.126% and Fixed Rates from 5.29%-14.87% depending on the loan company.
  • What are my repayment options?

Please allow a 3-week minimum turn-around for your loan to be processed and certified.

While there are no official cut off dates for loans, the loan application must be complete by the dates below to ensure that the student’s loan is disbursed before their billing date:

  • Fall Semester: July 15th
  • Spring Semester: December 15th

Southeastern does not currently accept federally subsidized loans (e.g. Stafford, PLUS).

  1. Fill out the Pre-Loan Application with the amount requested and the time period you want the loan for. Please also see the Cost Estimator to calculate cost per semester.
  2. Apply for a student loan through a private loan company (Sallie Mae, College Ave, Discover Student loan, etc.). Students should research interest rates and repayment options to decide which company to choose before submitting an application through their website.
  3. Once the student has submitted their Pre-Loan Application to the Financial Aid Office and has been approved by the private loan company, the Financial Aid Office will be able to certify the student’s loan. Please note, the Financial Aid office will only certify the amount that the private loan company has approved. The loan will disburse approximately 10 business days after certification.
  4. Students who desire to use their loan money for books or non-tuition expenses must request a check from the Accounting Services office after the funds have been disbursed and all tuition and fees have been paid.