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 for Students
In addition to submitting the Stafford loan request form, first-time Stafford Loan borrowers at Wooster are required to complete two federal obligations online before we can credit their loan proceeds:
*On this federal website, the "Financial Awareness Counseling" option DOES NOT satisfy the legal requirements for loan counseling. Be sure to choose the "Entrance Counseling" option.
Perkins Loans for students are awarded by the College. A student must submit the FAFSA to be considered for a Perkins Loan. The Financial Aid Office will determine eligibility based on a student's financial need and the availability of funds.
Federal Loan Programs for 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, who has completed the FAFSA. Wooster urges every eligible family that is considering borrowing money to help meet the costs of higher education to request these loans first.
Parents should apply for a PLUS Loan. Please complete this step no later than July 1. A delay can prevent the loan from being credited to your student's account prior to first semester tuition due date of August 10. First-time PLUS Loan borrowers at Wooster are also required to complete an online master promissory note.
Code of Conduct
In an effort to avoid any conflict of interest between The College of Wooster and educational lending institutions, Financial Aid employees and all other employees involved in the loan process will abide by the following policies:
- No employee will participate in revenue-sharing arrangements with any lender
- No employee will accept gifts, other than those of nominal value, from a lender, guarantor, or a loan servicer
- No employee will participate in any contracting arrangement providing financial benefit or affiliate of a lender
- No employee will direct borrowers to particular lenders, or refuse or delay loan certifications
- No employee will accept offers of funds for private loans
- The Financial Aid Office staff will not accept call center or office staffing assistance from any lender
- No employee will accept compensation for serving on an advisory board