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| Loans Loans are available for all students and families. Some loans will be part of the need-based financial aid package from Concordia. Other loans are available regardless of need-based financial eligibility. Federal Perkins Loan: Need-based Federal Subsidized Stafford Loan: Need-based Federal Unsubsidized Stafford Loan: Non Need-based Federal PLUS Loan: Non Need-based SELF Loan: Non Need-based Alternative Loans: Non Need-based Loans must be repaid in full, including interest and fees. Student loans have long repayment periods, which generally do not begin until six months after the student has left school. Interest rates, origination fees, and discounts vary depending on the type of loan and lender. One of the important decisions a student must make when borrowing is the selection of a lender. Interest rates, origination fees, repayment discounts, and consolidation options vary depending on the selection of a lender or loan program. Concordia strongly recommends using the same lender for your entire loan needs during the duration of your education, whether you are using a Federal or alternative loan program. You will be required to sign a Master Promissory Note (MPN), which details the terms of repayment, for each loan program you participate in. Generally MPN's can be signed online and are required for first-time borrowers. In addition to the MPN, most loan programs also require first-time borrowers to complete an online Entrance Counseling session. These independent sessions take approximately 15 minutes. Loan proceeds are generally applied to a students account in two equal semester disbursements. If a student has loan funds that exceed Concordia charges they can request the funds be disbursed to them from the business office. This is common for students paying off-campus living expenses. |
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| Student Portal at MyFinancialAid.cord.edu |
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| School Code: 002346 | ||
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