Loans

Information about federal loan opportunities for students and parents is included with our aid award letters to applicants and to returning students.

Federal Loan Programs

Because Wooster participates in the William D. Ford Federal Direct Loan Program, students and their parents do not have to worry about the government having money available for their federal loans.

Students

Stafford Loans

Stafford Loans for students are available to every student who has completed the Free Application for Federal Studnet Aid (FAFSA).

In addition to submitting the Stafford loan request form, first-time Stafford Loan borrowers at Wooster are required to complete two federal obligations before we can credit their loan proceeds:

Perkins Loans

Perkins Loans are based on financial need, and the award maximum is $2,000 per year. In order to determine your eligibility you must complete the FAFSA.

Parents

Parent Loans for Undergraduate Students (PLUS)

PLUS Loans are available for every creditworthy parent who is a U.S. citizen or eligible non-citizen, without having to complete the FAFSA. Wooster urges every eligible family that is considering borrowing maney to help meet the costs of higher education to request these loans first

Please complete the PLUS Loan request form and return it no later than July 1. As PLUS loan approval can take up to one month. A delay can prevent the loan from being credited to your student's account prior to first semester tuition due date.

Private Loan Programs

Students and/or parents interested in private educational loans should explore these opportunities through their current banking relationships and online at loan comparison websites such as SimpleTuition.com.