Student loans

By choosing a high-value university like JBU and only borrowing what you need, student loans can become a smart investment in your future rather than a burden. Let's learn more about loans available to you and your parents for your undergraduate education.

Aren't student loans bad?

It's better not to borrow if you don't have to, but student loans aren't always bad. Borrowing student loans responsibly can help you achieve your goals.

  • If student loans mean you’re able to attend a college that’s a better fit, you’ll be more likely to graduate on time.
  • If they help you get a higher quality education and more attention from professors, you’ll be a more marketable employee.
  • If they mean you’re able to attend a Christ-centered college, your education will encourage you to honor God and serve others.

Depending on your priorities, all of that can mean a better return on your investment.

Federal Direct Loans

Direct Loans are federal student loans offered by the U.S. Department of Education to undergraduate and graduate students. They are offered in two forms: subsidized and unsubsidized.

Direct Subsidized Loans have more favorable terms and are only offered to undergraduate students who demonstrate need via the FAFSA. While you are in school, the U.S. Department of Education will pay the interest on a subsidized loan.

Direct Unsubsidized Loans are offered to undergraduate and graduate students regardless of financial need. Interest on an unsubsidized loan will accrue and capitalize while you are in school even though you do not have to start making payments until after you drop below half-time enrollment.


Amount

Dependent undergraduate students may borrow up to these amounts:

  • Freshmen: $5,500 (of which a maximum of $3,500 may be subsidized)
  • Sophomores: $6,500 (of which a maximum of $4,500 may be subsidized)
  • Juniors: $7,500 (of which a maximum of $5,500 may be subsidized)
  • Seniors: $7,500 (of which a maximum of $5,500 may be subsidized)

Independent undergraduate students are eligible to receive additional unsubsidized funds (an additional $4,000 for freshmen and sophomores, and an additional $5,000 for juniors and seniors). These additional funds are also available to dependent students if their parent(s) is unable to get a Parent PLUS Loan.

Graduate students may borrow up to $20,500.

JBU will offer a maximum loan amount in your financial aid package, but you can borrow less. You may request more loan funds later (up to the maximum offered) if you need to. You should borrow only what you need.

Learn more about Direct Loans

Eligibility

  • Be enrolled at least half-time (6 hours).
  • Subsidized loans are awarded based on financial need as determined by the FAFSA.

Application


Renewal

  • Loans may be renewed annually. Annual completion of the FAFSA form and satisfactory academic progress are required.
  • Dependent undergraduate students may borrow no more than $31,000 in total.
  • Independent undergraduates may borrow no more than $57,500 in total.
  • Graduate students may borrow no more than $138,500 in total, including federal loans received for undergraduate study.

Interest and fees

Please see the Federal Student Aid website for current and past interest rates and fees.

Subsidized loans do not accrue interest while you are in school at least half-time or during grace and deferment periods.


Repayment

Payments are deferred so long as you maintain at least half-time enrollment. A grace period of six months begins when you graduate, leave school or drop below half-time enrollment. You are not required to make payments during this period.

You must begin making payments after the grace period. A number of repayment plans are available.


Federal Direct PLUS Loans for Parents

Direct PLUS Loans are federal loans that may be offered by the U.S. Department of Education to parents of dependent undergraduate students. The parent is responsible to pay back this loan, not the student.


Amount

The maximum Direct PLUS Loan amount you can borrow is the cost of attendance minus any other financial assistance your child receives.

Learn more about Parent PLUS Loans

Eligibility

  • Be the biological or adoptive parent (or in some cases, the stepparent) of a dependent undergraduate student enrolled at least half-time (6 hours).
  • Pass a credit check performed by the U.S. Department of Education.

Application

  • Students must complete the FAFSA form (include JBU on the School Selection page)
  • Parents must complete the Direct Parent PLUS Loan Application, which includes a Direct Plus Loan Master Promissory Note (Direct Plus Loan MPN) for first-time Direct Plus Loan borrowers.

Renewal

You must reapply every year.


Interest and fees

Please see the Federal Student Aid website for current and past interest rates and fees.


Repayment

Payments may be deferred so long as your student maintains at least half-time enrollment. A grace period of six months begins when they graduate, leave school or drop below half-time enrollment. You are not required to make payments during this period.

You must begin making payments after the grace period. A number of repayment plans are available.


Federal Direct PLUS Loans for Graduate Students

Direct PLUS Loans are federal loans that may be offered by the U.S. Department of Education to eligible graduate students.


Amount

The maximum Direct PLUS Loan amount you can borrow is the cost of attendance minus any other financial assistance your child receives.

Learn more about Parent PLUS Loans

Eligibility

  • Be a graduate student enrolled at least half-time (6 hours).
  • Pass a credit check performed by the U.S. Department of Education.

Application

  • Complete the FAFSA form (include JBU on the School Selection page)
  • Complete the Direct Grad PLUS Loan Application, which includes a Direct Plus Loan Master Promissory Note (Direct Plus Loan MPN) for first-time Direct Plus Loan borrowers.

Renewal

You must reapply every year.


Interest and fees

Please see the Federal Student Aid website for current and past interest rates and fees.


Repayment

Payments may be deferred so long as you maintain at least half-time enrollment. A grace period of six months begins when you graduate, leave school or drop below half-time enrollment. You are not required to make payments during this period.

You must begin making payments after the grace period. A number of repayment plans are available.


Private loans (alternative loans)

Private student loans are offered by banks or other private lending institutions.


Amount

JBU can only certify a loan up to the cost of attendance less all other financial aid. We strongly encourage you to take out the maximum available in federal student loans before applying for alternative student loans.

Learn more about private loans

Eligibility

  • Eligibility requirements vary by lender.
  • You must pass a credit check.
  • Some lenders may require a co-signer depending on your credit.

Application

  • Application varies by lender.
  • To apply for a loan, you may use FastChoice to search for a lender that best fits your needs, then apply for the loan. Due to the educational nature of the loan selection process, JBU is a participant of the FastChoice lender selection program. A student or family is not required to borrow from a lender on the FastChoice list and can, instead, complete a loan application with an alternative lender of choice.

Renewal

You must reapply every year.


Interest and fees

Interest rates are variable and depend on the borrower's and/or cosigner's credit.


Repayment

Payments are typically deferred until you graduate or drop below half-time enrollment, though terms vary by loan. Some lenders offer a six month grace period before payments are required.


Applying for admission is the first step to getting financial aid

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