College of Graduate and Professional Studies Student Loans
Federal Student Loans
Beginning with the 2009-2010 academic year, Franklin Pierce University will process all Federal Stafford, Parent PLUS, and Graduate PLUS loans via the US Department of Education’s William D. Ford Direct Loan Program.
Pricing for the Direct Loan Program is as follows:
- Subsidized and Unsubsidized Direct Stafford loans disbursed after 7/1/2009 and before 7/1/2010, students receive 99.5% of the loan amount disbursed onto their student account but must make the first 12 payments on time upon repayment. If students do not make the first 12 payments on time, they will pay 1.0% of the loan amount in fees.
- Parent and Graduate Direct PLUS loans disbursed after 7/1/2009 have 97.5% of the proceeds disbursed onto the student account but must make the first 12 payments on time upon repayment. If borrowers do not make the first 12 payments on time, they will pay 1.5% of the loan amount in fees.
Grad PLUS Loan
Graduate students may borrow under the Graduate PLUS Loan Program. PLUS loan limits equal the student’s cost of attendance minus other financial aid with no aggregate loan limits. The interest rate for PLUS loan borrowers is fixed 7.9% APR. Repayment begins within 60 days of when the loan is disbursed but deferment options are available.
Links:
MPN Instructions for New Franklin Pierce students
2010-11 Alternative Loans
The staff of the Student Financial Services Office recommends that students and their families maximize all federal, state, and institutional financial aid programs first when financing a Franklin Pierce University degree. For students and families looking to utilize alternative/private loans as a source of partial financing, the following list includes all private lending programs that students borrowed from during the 2009-10 academic year.
Franklin Pierce University does not have a preferred Alternative/Private Lending list. We recommend that parents of undergraduate students seek the Federal Direct Parent PLUS loan and that Graduate students seek the Federal Direct Graduate PLUS loan as the preferred loan program to pay for costs not covered by the Federal Direct Stafford Loan programs and other sources of financial aid. Students who use an Alternative Loan may borrow from the lender of their choice, but must notify the Office of Student Financial Services. Please feel free to contact us directly at 1-877-372-7347 with questions.
AES: http://www.aessuccess.org/
Phone: 1-800-233-0557
Chase: https://apply.chase.com/edfi/PreQualSearch.aspx/
Phone: 1-800-306-0868
Citizens Bank TruFit Student Loan: www.citizensbank.com/trufitstudentloan
Phone: 1-866-259-3767
Digital Credit Union: https://dcu.studentchoice.org//
Phone: 1-800-324-1589
Discover Student Loans: http://www.discoverstudentloans.com/student/private.aspx/
Phone: 1-877-728-303
FAME (Finance Authority of Maine): http://www.famemaine.com
Phone: 1-800-228-3734 or 207-623-0095
Holy Rosary Credit Union: http://hrcu.studentchoice.org/
Phone: 1-866-219-0057
MEFA (Massachusetts Education Finance Authority): http://www.mefa.org/
Phone: 1-800-449-6332
MIT Federal Credit Union: www.mitfcu.studentchoice.org/
Phone: 1-866-514-7550
NJCLASS: https://www.hesaa.org/oNJCLASS/html/index.htm
Phone: 1-800-792-8670
NMTW Community Credit Union: http://nmtw.studentchoice.org/
Phone: 1-866-237-8801
PNC Education Lending: http://www.pnconcampus.com/studentloanguide/privateloans/Default.aspx
Phone: 1-800-732-1001
RISLA :( Rhode Island Family Education Loan) https://www.risla.com/loans/rifel.aspx
Phone: 1-800-758-7562
Sallie Mae Smart Option Loan: http://www.salliemae.com/im-appling/smart-option-checklist.htm
Phone: 1-888-272-5543
SunTrust Education Loans: http://www.suntrusteducation.com/
Phone: 800-552-3006
Wells Fargo Alternative Loan: www.wellsfargo.com/student
Phone: 1-800-658-3567
Workers Credit Union: http://wcu.studentchoice.org/
Phone: 1-800-518-1589
For more information contact the Office of Student Financial Services at 877-372-7347 or osfs@franklinpierce.edu.
