Financial Aid and Scholarship Links

Admissions: Pay for College
Loans for College

Federal Stafford Loan
Chowan University participates in the Federal Family Education Loan Program (FFELP) which includes Federal Stafford Loans. To be eligible for Stafford loans, you must first complete the Free Application for Federal Student Aid (FAFSA). After completing the FAFSA and turning in all the necessary documents, you will receive an award letter stating the Stafford loan type and amount you are eligible for. During the process, you will need to select a lender and complete entrance counseling.

Federal Parent (PLUS) Loan
The Federal government offers the PLUS Loan to parents to assist them with the gap between financial aid and the cost of school. The PLUS loan is available to all parents regardless of financial need. Lenders will conduct a credit check before approving a PLUS loan. When parents apply for the loan the lender will require them to complete a Master Promissory Note (MPN). If your parents are borrowing a PLUS for the first time, they must select a lender to service their loan.

Private Loan
Private and alternative loans are unsecured, credit based loans that are not guaranteed by the federal government. These loans help students fill the gap if federal loans, scholarships, and grants do not cover all your college expenses. Six months after graduation, the student must begin repaying the loan. A credit worthy co-signer may be required. During the process, you will need to select a lender.

Institutional Policy
For a more detailed description of how Chowan University identifies preferred lenders, please see a copy of our Institutional Policy and Code of Conduct on our website or request a hard copy. Chowan University does not endorse any particular lender and we cannot advise you regarding which lender to choose.

Please borrow conservatively.