Taking Out a Student Loan
All students must adhere to the institutional loan policy of taking out no more than $8,000 per semester and $16,000 per academic year. All students who request amounts that exceeds the policy will need to request approval from the Associate Director of Student Resources and Financial Aid by contacting the Financial Aid office.
We want to encourage students to use wisdom when thinking about interest rates, payback options, and the long-term effects of taking out loans. Student loans should be taken out with careful consideration. Some things to consider before taking out a loan are:
- What is your total need per semester?
- How much of your income can be used towards your tuition?
- How much are you expecting in financial aid and/or other scholarships?