Federal Perkins Loan (formerly National Direct
Student Loan): This need-based loan is funded by the
federal government and the College.
Federal Direct Subsidized Loan: This
need-based program enables students to borrow an educational loan
from the Department of Education. The loan is insured by the
federal government, and the federal government pays the interest
while the borrower is enrolled in school at least half-time, during
a grace period, and during authorized periods of deferment.
Interest will begin to accrue from the beginning of the repayment
period. All students that accept the Federal Direct Subsidized Loan
must complete the online Entrance Counseling and Master Promissory
Note (MPN). Visit StudentLoans.gov to complete the Entrance
Counseling and MPN.
Federal Direct Unsubsidized Loan: This
is a non-need-based educational loan from the Department of
Education. The student is responsible for the interest during
in-school and deferment periods. All students that accept the
Federal Direct Unsubsidized Loan must complete the online Entrance
Counseling and Master Promissory Note (MPN). Visit StudentLoans.gov to complete the Entrance
Counseling and MPN.
Federal Direct PLUS Loans: This loan program enables
parents with good credit histories to borrow an educational loan
from the Department of Education for each child who is enrolled at
least half-time and who is a dependent student. There is no grace
period for these loans.
Student Loan Entrance Counseling: Every
student who accepts a Federal Direct Subsidized/Unsubsidized loan
must complete the Entrance Counseling process at StudentLoans.gov. Loan money cannot be
disbursed to a student account until the Entrance Counseling is
Student Loan Exit
Counseling: Before leaving school, every student who
borrowed a Federal Direct Subsidized/Unsubsidized loan must
complete the Federal Direct Subsidized/Unsubsidized Exit Counseling
Ministerial Loan/Grant: This
assistance is offered to students who plan to enter the ministry of
The United Methodist Church. It is given in the form of a
need-based loan for one-half tuition, which will be forgiven if the
student remains in full-time service to the Church for five years
after attending Lindsey Wilson.
Lindsey Wilson-Fenley Loan: This
loan is funded by a gift from the late R. B. Fenley, a 1909 Lindsey
Wilson alumnus. This loan is awarded to needy students who might
otherwise be unable to attend college, and it is administered by
the College using similar guidelines and at the same interest rate
as the Perkins Student Loan.
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