Loan Information for Students and Parents
Whitworth University administers federal Stafford and PLUS loans through the Federal Direct Loan
For new borrowers or previous borrowers with no outstanding balances as of July 1, 2013, please
Click on the loan program below to jump to more information and application processes:
Federal Direct Stafford Loans
It is a federal regulation that institutions disclose to students the average amount a student would borrow on all federal loan programs in their respective program of study. Below is a chart that indicates these average borrowed amounts for students who participated in a federal loan program as compiled for the 2013-14 academic year.
*The Standard Repayment Plan is the most aggressive payment plan offered by the Federal Direct Program. There are other repayment plans that are offered and would reduce the monthly payments.
Enrollment status information that has an impact upon loan repayment:
Undergraduate students must be enrolled in six credits or more to be considered half-time.
Graduate students must be enrolled in three credits or more to be considered half-time.
The Stafford exit loan counseling process will be required once a student is no longer enrolled at least half time.
Online Stafford Loan Processes:
Complete Federal Direct Stafford Electronic Master Promissory Note: www.studentloans.gov
Complete Stafford Entrance-Loan Counseling Process: www.studentloans.gov
Complete Stafford Exit-Loan Counseling Process: www.studentloans.gov
You can always view your federal student loan history on National Student Loan Data System for Students (NSLDS) at www.nslds.ed.gov.
For a complete list of federal loan servicers, visit: https://studentloans.gov/myDirectLoan/additionalInformation.action
You must be the student's biological or adoptive parent or the student's stepparent, if the biological or adoptive parent has remarried at the time of application. Your child must be a dependent student who is enrolled at least half time. Federal Parent Loans are loans that do require credit approval. Interest is charged at the time of disbursement. For the 2014-15 academic year, the interest rate is fixed at 7.21 percent. The parent can choose to pay the interest or defer it as long as the student remains in school at least half time. Repayment begins within 60 days from when the student disenrolls.
Parents who are interested in setting up a Federal Parent Loan for the 2014-15 academic year should review the following information:
To determine how much a parent might want or need to borrow, visit our online 2014-15 Cost Estimator.
The online processes required to request and apply for a Federal Parent Loan require a federal PIN. The parent borrower who completes the online request form must be the same parent who completes the electronic PLUS Master Promissory Note. Parents are notified online at the time they make the request if the loan is approved or denied.
Visit www.studentlloans.gov to complete an online request form. The parent must log in to begin the request process. You will be asked to choose the academic year for which you are borrowing. (For students who are attending fall 2015, parent borrowers should select the 2014-15 academic year.)
The Federal Direct Graduate PLUS program is similar to the Federal Direct Parent Loans. To be considered for a Graduate PLUS Loan, students must first apply with a FAFSA to determine eligibility for the Stafford Loan Program. This loan is not based on financial need; the student must show credit-worthiness, and interest is charged while the student attends school. Principal and interest repayment begins within 60 days from the date that the student is no longer enrolled at least half-time.
To apply for a Graduate PLUS Loan, a student must complete the Federal Direct Graduate Parent Loan Request Form online at www.studentlloans.gov. The student must log in to access the request process.
If the student is approved for the loan, s/he must complete the following two online processes.