FEDERAL STUDENT LOAN PROGRAMS
HWS participates in the Federal Direct and Federal Perkins loan programs. Undergraduate students who file a FAFSA and are enrolled at least half-time each semester are eligible to borrow Federal Direct Loans. Students who are eligible to borrow a Federal Perkins Loan will have it listed in their financial aid award letter. Graduate students who file a FAFSA and are enrolled at least half-time each semester may be eligible to borrow a Direct Unsubsidized Loan and/or a Direct Graduate PLUS Loan.
Direct Loans are both subsidized (government pays the interest while student is enrolled) and unsubsidized (interest begins to accrue when funds disburse). These are loans in the student's name and must be repaid. A master promissory note (MPN) and entrance counseling session must be completed online if you plan to borrow a Direct Loan.
For the 2015-2016 academic year, the interest rate is fixed at 4.29% on both subsidized and unsubsidized undergraduate loans and 5.84% on unsubsidized loans for graduate students. A loan origination fee (rounded to the nearest dollar) is deducted prior to each disbursement to your HWS student account; 1.073% on loans with a first disbursement date 10/1/14 – 9/30/15 and 1.068% on loans with a first disbursement date 10/1/15 – 9/30/16. Repayment of your loans begins six (6) months after you graduate, leave school, or drop below half-time enrollment.
Refer to the Federal Student Aid site for more comprehensive information.
Perkins Loan funds are allocated to the Colleges by the federal government. These are low interest (5%) loans made to students who demonstrate significant financial need. There is no loan origination fee and interest is not assessed until repayment begins nine (9) months after you complete or withdraw from your educational program.
First-time Perkins Loan borrowers will be emailed instructions when your promissory note and entrance counseling session are available for you to complete online. A promissory note and entrance counseling is already on file if you have borrowed a Perkins Loan previously. Perkins Loan funds will be credited to your student account upon completion of your loan requirements.
Please notify the Office of Financial Aid at firstname.lastname@example.org if you wish to decline or reduce the amount of your loan(s).
- Loan counseling
- Federal Student Loan Programs
- Direct Parent and Graduate PLUS Loans
- Private Education Loans
- Debt Management/ Calculators
- Payment Options
- Understanding Your Financial Aid Award
- Code of Conduct
Office of Financial Aid
300 Pulteney Street, Demarest Hall
Geneva, NY 14456
Phone: (315) 781-3315
Fax: (315) 781-4048