CONTACT
Office of Financial Aid
Ph: (877) 742-9532
Fax: (920) 748-8370
financialaid@ripon.edu

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Admission | Financial Aid

Educational Loans

Attention First-Time Federal Direct Loan Borrowers: 

The U.S. Department of Education requires all first-time borrowers to complete an Entrance Loan Counseling session prior to receiving their loan proceeds.

 

Federal Perkins Loan may be included as part of a need-based financial aid package. Payments on principal and interest are deferred until after the student has completed his or her degree or ceases to be enrolled at least half-time. The interest rate during repayment is 5%.

Federal Direct Subsidized Loans may be included as part of a need-based financial aid package. Payments on principal and interest are deferred as long as the student is enrolled at least half-time. The interest rate is 3.86% for 2013-14.

Federal Direct Unsubsidized Loans are awarded to students not eligible for the subsidized loan. Interest accrues to the student while in school but may be deferred and capitalized prior to entering repayment. The interest rate is fixed at 3.86% for 2013-14.

Federal Direct Parent Loan for Undergraduate Students (PLUS) is available to parents of dependent students to help cover the difference between the cost of attendance and any financial aid awarded to the student. The standard repayment period is 10 years, beginning the day after the loan is fully disbursed. The interest rate is fixed at 6.41% for 2013-14.

Private Educational Loans: Various private lenders offer education loans. These include loans to students (with and without co-signers), as well as to parents. Interest rates, deferment options and annual/aggregate maximum loan amounts vary by lender. For more information about these resources, contact the Office of Financial Aid.