Loans are the largest financial resource available to students. Loans allow students to borrow money at low interest rates, with no collateral, and generally no co-signer. Most student loans do not need to be repaid until the student graduates or drops to less than half-time status.
Students are reminded that borrowing money for college is a serious financial obligation. When signing a loan promissory note, you enter into a legal agreement. Consider this commitment carefully when taking out a loan.
Types of Loans
HOW TO APPLY
To apply for a student loan:
- Submit the Free Application for Federal Student Aid (FAFSA).
- Wait to receive your Financial Aid Award Notification from the Office of Financial Aid.
- Accept the loan by signing and returning the Loan Acceptance Form or accepting on Banner Web.
First-time borrowers at Mississippi College must complete a Loan Entrance Counseling session.
Parent Borrowers who wish to utilize the Federal Parent Loan for a dependent undergraduate student (PLUS) are required to file a FAFSA.