There are a variety of loan programs available to you and your family to help support your cost of education. Loans are a form of financial aid that must be repaid, with interest.
Your eligibility for federal loan programs will be determined once you have filed your Free Application for Federal Student Aid (FAFSA).
Puget Sound participates in the Federal Direct Student Loan program. Under this program the federal government serves as the lender. The interest rate varies depending on the loan type and (for most types of federal student loans) the first disbursement date of the loan.
The Direct PLUS Loan is a credit-based loan that allows parents to borrow up to $20,000 per year or the student's remaining unmet cost of attendance whichever is less. Parents may apply for any year their undergraduate student is enrolled at least half-time. The federal government serves as the lender. While interest rates vary by disbursement date, they remain fixed for the life of the loan. Origination fees are proportionately deducted from each disbursement.
Graduate students who have filed a Free Application for Federal Student Aid (FAFSA) can be eligible to borrow up to the amount of their total cost of attendance.
To help you and your family navigate through the complex information provided by private lenders, Puget Sound has identified a list of lenders and has partnered with FASTChoice, an online loan comparison tool designed to help you select the lender best suited to your particular needs.
Puget Sound creates a student loan statement for all borrowers each time a financial aid package includes a new or revised student loan.
Students can access their student loan statement by logging into my.pugetsound.edu, selecting the Student Finances tile, Financial Aid Tile then Student Loan Statement (PDF).
If you have questions about what loans you have, repayment or about your loan servicer, visit the Federal Student Aid website.
Under Manage Loans, you can click on View My Account to log in. You will need your Federal Student Aid ID to login. If you can't remember your FSA ID, click the link to Forgot My Username.
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