Financial Aid Loan Programs
If grants, scholarships and student employment are not sufficient to cover your necessary education-related expenses, you may want to consider a student loan. Because loans are financial aid that must be repaid, you should think carefully about how much you need to borrow for your educational expenses. For more information about Federal loans, please view the Guide to Federal Student Aid by following the Related Link on this page.
Federal Direct/Stafford Loans Now Available
Follow Federal Direct Loan link below and complete the Direct Loan Request Form online.
Southwestern Michigan College provides these student loan options:
Federal Direct Loan |
The Direct Loan program provides low interest loans that are funded by the U.S. Department of Education. |
Federal Perkins Loan |
This loan program is administered by Southwestern Michigan College and provides long-term, low-interest loans to students. The repayment period and interest begin nine months after the completion of studies. |
Federal Parent PLUS Loan |
This is a non-need based source of loan funds available to parents of dependent students who are enrolled for 6 or more credits per semester. In this program, the parent is the borrower, a credit check is performed on the applicant, and repayment of interest and principal must begin within 60 days of disbursement of the loan. |
Private Alternative Education Loan |
Private Alternative educational loans are student loans offered through agencies other than the federal government. These loans are based on the creditworthiness of the borrower and/or co-signer, if applicable. |
