Federal Direct Stafford loans are offered to eligible students by the Financial Aid Office after the FAFSA is filed and are included as part of the financial aid package. Some undergraduate students may qualify for subsidized loans if the student has demonstrated financial need. Subsidized loans will not accrue interest while you are continuously enrolled at least half-time. Unsubsidized loans will begin accruing interest immediately at the time of disbursement.

If you choose to decline the loan, complete the Direct Loan Decline form which can be found in the Financial Aid Documents Section. Click here to complete the Federal Direct Loan Master Promissory Note (MPN) and Direct Loan Entrance Counseling. To view Federal Loan disclosures, click here.

In order to maintain financial aid eligibility, students are required to meet the academic standards as outlined in our Undergraduate or Graduate Satisfactory Academic Progress Policy.

The Parent PLUS Loan is credit-based loan available to apply for through Federal Student Aid. A credit check is required, and parent-borrowers may be denied if they have adverse credit history. If denied, the parent may:

• Accept the denial and request additional Unsubsidized Federal Stafford loans for the student in the amount of $4,000 annually for students with under 60 credits earned or $5,000 annually for students with more than 60 credits earned. If you select this option, you must still apply each year in which you would like the additional funding.
• Appeal the denial, by reaching out to Federal Student Aid and supplying the necessary documentation
• Add a credit worthy endorser to the loan. If the endorser is approved, the parent borrower must also complete Credit Counseling on studentaid.gov.

A parent may defer payments until the student either graduates or withdraws.

For more information on the Federal Direct Parent PLUS loan, click here. To view Federal Loan disclosures, click here.

Private Loan Options 

Alternative or private loans are loans for educational purposes that are offered by banks and other lenders and are credit-based. An application for a loan must be approved by the lender and therefore requires the borrower to be creditworthy. Students should remember to apply for Federal Direct Loans first and then apply for private educational loans if needed as Federal Loans can be more favorable for some borrowers.  

The Federal Loan limits available to eligible students are as follows: 

Annual loan limits: 

• Dependent students: Freshmen can borrow up to $5,500, sophomores up to $6,500, and juniors and seniors up to $7,500  

• Independent students: Freshmen can borrow up to $9,500, sophomores up to $10,500, and juniors and seniors up to $12,500  

• Graduate students: Can borrow up to $20,500, or $40,500 for certain medical training  

Aggregate loan limits:  

• Dependent students: Can borrow up to $31,000, including up to $23,000 in subsidized loans 

• Independent students: Can borrow up to $57,500, including up to $23,000 in subsidized loans 

• Graduate and professional students: Can borrow up to $138,500 including undergraduate borrowing 

To access federal student aid, you can submit a Free Application for Federal Student Aid (FAFSA).  If you are eligible for Title IV and complete your FAFSA and submit to Anna Maria College, you will automatically be offered the above loans.  

NOTE: In accordance with U.S. Department of Education regulations (HEOA 489 amended HEA Sec.485B) a student (or parent) title IV loan information is submitted to National Student Loan Data System (NSLDS). Authorized agencies, lenders, guarantors, servicers and institutions have access to this information.  

Applying for an Alternative Loan or Private Loan 

Loan fees and interest rates vary by lender and are often based on a student’s credit score. Interest begins to accrue upon disbursement of the loan; however, many lenders provide the option of deferring monthly loan payments may be deferred until after graduation. 

The Office of Financial Aid encourages students to review their budget and borrow conservatively. To apply, contact your choice of lender to complete the loan application. Once an application is approved, the lender will send a request for certification to the Office of Financial Aid. Once the loan is certified, you will receive a revised award letter reflecting the addition of the new loan. You may at any time request a Self-Certification at CLICK HERE. 

Students should compare alternative educational loan lenders to determine which lender best meets their needs. Anna Maria College does not have any financial interest in a student’s choice of lender. Students should be aware, however, that each time they apply for a loan with any lender, a credit check is performed.  

Loan Approval Disclosure: Once your loan is approved, your lender will provide you with a statement that includes your interest rate, loan details and repayment options. Student borrowers are now required to “actively accept” the terms of their loan within 30 calendar days before their school will be notified that school certification is available. The lender’s terms for how to “accept” the loan terms can be found on this disclosure statement. 

Lenders will have different interest rates, repayment terms and options. Anna Maria has compiled a list of the lenders most utilized by our students and their parents over the previous three years. To view the list, you can go to the ELMSelect website and enter “Anna Maria College”.

Lenders will have different interest rates, repayment terms and options. Anna Maria has compiled a list of the lenders most utilized by our students and their parents over the previous three years.  None of the lenders are related to each other, and they are listed in alphabetical order.

Please view our Code of Conduct regarding private lenders: Click Here

An interest-free monthly payment plan is offered for the fall semester and the spring semester with five payments due for each term.  An enrollment fee of $50 is charged for each plan upon enrollment.  To enroll or learn more please go to https://mycollegepaymentplan.com/annamaria.

Anna Maria College offers a number of financing options to help graduate students fund their education. Listed below are the types of programs in which AMC participates.

Federal Unsubsidized Stafford Loan
Graduate students must be accepted into a degree program and be enrolled at least half-time (one course/three credits) per semester in order to be eligible for federal financial aid in which they can receive up to $20,500 annually in Unsubsidized Stafford Loans.  To apply, complete the Free Application for Federal Student Aid (FAFSA).

Other Loan Options

As a Graduate student, you may apply for a Federal Direct Grad Plus Loan available through Federal Student Aid.  You must complete your FAFSA to be eligible for this loan, as well as complete a Grad PLUS Counseling and a Grad PLUS Master Promissory Note. If you have adverse credit history, your application may be denied, in which case, you will need to add a credit worthy endorser to access the loan.

You may also take private loans, please view our Private Loan Options tab on above for more information.

Monthly Payment Plan
An interest-free monthly payment plan is available.  Choose from either an annual or semester-based plan. An additional enrollment fee is required for the semester-based plan. Learn more by going to https://mycollegepaymentplan.com/annamaria.

In most cases, a private loan approval will require a credit worthy cosigner who holds U.S. citizenship. Some lenders may also allow a cosigner who is a non-citizen as long as they have a US Social Security Number and are credit worthy. Click here to view some options that list lenders that are most used by the Anna Maria Student body.

If you are studying at Anna Maria College on an F1 visa, you must report the change in financial aid, as well as the name of your cosigner, if applicable, to the International Student Services Office immediately to ensure your I-20 is updated to reflect a change in available funding.

Anna Maria College has partnered with ECMC Solutions to provide student loan counseling and support to borrowers as they navigate federal student loan repayment. Click here for more information on how ECMC can assist you.