How to Get a Loan
Attention: The Evergreen State College Financial Aid Office will no longer be certifying Bank of America loans as of November 20, 2009. Bank of America will no longer be continuing in the Stafford student loan program. This announcement was made publicly on November 06, 2009. Those who have had current or past loans with Bank of America should have received a letter from that lender indicating what would take place with their loans. If you have questions, please refer to any contact information on your notification and contact them directly. The Financial Aid Office will be able to answer limited questions on this subject.
Do You Need a Loan?
Students and families sometimes need help to cover the costs of attending college. We have several kinds of loans that might be helpful if you are experiencing a gap between your available funds and your needs. The Loan Application Checklist will keep you on track as you navigate through the borrowing process.
Loan programs available to students at Evergreen State College
There are several type of loans that may be offered to you as an Evergreen student. They include:
- Student Stafford Loans
- Parent PLUS Loans
- Graduate PLUS Loans
- Federal Perkins Loans
- Private or Alternative Loans , and
- Short-Term Loans.
Federal Family Education (FFELP) Loans
The Federal Subsidized Stafford Loan, the Federal Unsubsidized Stafford Loan, the Federal Parent PLUS Loan and the Graduate PLUS Loan are educational loans which borrowers obtain from participating lending institutions. When you or your family is offered one of these FFELP loans, you will be required to submit forms including: the Stafford Loan Request Form or the Plus Loan Request Form. These forms allow you to choose a lender and let us know how much loan you wish to accept.
To receive these loans, eligible students must be attending at least half-time! The six-month grace period begins as soon as the student graduates, drops below half-time, or leaves school.
We want to understand more about Stafford and PLUS loans before we decide whether to borrow.
Stafford Loans
The Federal Subsidized and Unsubsidized Stafford loans are offered to students. These federal student loans are available to both graduate and undergraduate students. You must be attending at least half-time to be eligible for these loans.
The first time that you borrow a Federal Subsidized Stafford or Unsubsidized Stafford as an Evergreen student, you must complete student loan entrance counseling before the loan process can be initiated. You may choose to complete your on-line entrance counseling on the web or you may request a that Loan Entrance Counseling packet be mailed to you.
If you borrow a Federal Subsidized Stafford Loan or Federal Unsubsidized Stafford Loan you must attend an exit counseling session before graduating or leaving the college, even if you intend to return at some later date. Please call us at 360-867-6205 to secure your place at an Exit Counseling session. If you are unable to physically attend one of these sessions, you must request exit counseling by mail.
Parent PLUS Loans
The Federal Parent PLUS Loan is a loan that is offered to eligible parents of dependent undergraduate students.
Graduate PLUS Loans
Graduate and professional degree students are now eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance in both the FFEL and Direct Loan Program...
Federal Perkins Loan
The Federal Perkins Loan is a long-term, 5% fixed-interest, need-based loan program available to eligible graduate and undergraduate students. Recipients have a nine-month grace period before going into repayment on principal and interest. The grace period begins as soon as the student graduates, drops below half-time, or leaves school. Perkins Loans are processed by the Student Accounts Office.
Alternative Loans
For students who do not qualify for Subsidized or Unsubsidized Stafford loans, or need additional funding beyond their Stafford loan eligibility, private student loans are available. These are referred to as Alternative Loans and are borrowed directly from a lending institution.
More Loan Information and Required Forms
Stafford and PLUS Loan Information
- Loan Application Checklist | Web Page Word | PDF
- Parent PLUS Loans Web Page
- 2009-10 Parent PLUS Loan Request Form Word | PDF
- Perkins Loan Information Web Page
- Short-Term Loan Information Web Page
- Stafford Loans Web Page
- 2009-10 Stafford Loan Request Form (SLRF) Word | PDF
- Track Your Student Loan Web Page
You can track the status of your loan yourself at ELM Resources. ELM Resources provides automated loan data exchange, updates, and loan information through the Internet. ELM is a not-for-profit company supported by the lenders, guarantors and servicers who are its members.
- SimpleTuition Web Page
This student loan comparison tool includes Stafford, PLUS and Grad PLUS loans. We hope that you use the tools provided to help you better understand your student loan options. This is the site where you complete Loan Entrance Counseling and where you can e-sign your Master Promissory Note.
- The National Student Loan Database (NSLDS) Web Page
You can get your cumulative loan and Pell Grant history from this government site. You will need your FAFSA pin for accessing this information.