Need-Based Student Loans

Subsidized Loans

Students who demonstrate financial need are eligible for the Subsidized Federal Stafford Loan. The federal government pays interest while the student borrower is enrolled at least half-time in school and six months thereafter.

Unsubsidized Loans

Students who do not demonstrate financial need are eligible for the Unsubsidized Federal Stafford Loan. The student is responsible for the interest on the unsubsidized loans even during periods of enrollment. Borrowers may choose to defer the interest payments while in school and during their six-month grace period, but the interest will be capitalized.

Loan Requirements

To borrow a Federal Stafford Loan, you are required to complete a Master Promissory Note (MPN) and Entrance Counseling within the first term you are attending courses and borrowing with a Stafford Loan. This process must only be done once throughout your academic career at Emmanuel. The MPN and Entrance Counseling instructions are mailed to borrowers.