General Loan Information and Types of Loans
There are several types of loans available to Defiance College students. All students may qualify to receive one or more of the loans listed below unless he/she is in default on a previous student loan, has borrowed up to the maximum allowed as defined by the federal government, has received financial aid to cover all costs, or is enrolled for less than six credit hours. The FAFSA must be completed to determine a student’s eligibility for William D. Ford Federal Direct Loans. See Apply for Aid.
All first-time student loan borrowers must complete Entrance Loan Counseling.
William D. Ford Federal Direct Loan Program
There are two types of William D. Ford Federal Direct Loans.
Perkins loans are awarded to the neediest students as determined by the FAFSA up to $2,000 (undergraduate). Students must complete a Perkins Entrance Interview and MPN if they are first-time borrowers. Students must also complete a disclosure statement at the beginning of each new award year. These are forms available for completion in the Business Office. The interest rate is fixed at 5.0%. Interest begins to accrue and repayment begins nine months after the student ceases to be enrolled at least 1/2 time at our institution of higher learning. Limited funds are available. Students must apply early!
Federal Direct Parent Plus Loan
This loan is for parents of dependent students. Learn More...
These loans are available to undergraduate and graduate students up to unmet costs of education. Credit approval of borrower is required. Interest and repayment options vary by lender. For more information, go to the FastChoice Website.
Federal Direct loan repayment chart. Learn More...
Federal Student Aid
SCHOOL CODE: 003041
Defiance College admits students regardless of race, color, creed, sex,
national or ethnic origin, sexual orientation, or disability.