Loras

Always consider your lowest-cost options first, including grants, scholarships, and federal student loans.Loras College has awarded you the federal Direct Stafford loan and grant assistance that you are eligible to receive.

Loras College is utilizing FASTChoice, a loan comparison tool offered by Great Lakes Higher Education Corporation which allows students to do a side-by-side comparison of up to three different loans. You can find a list of private loan lenders by going to:

FASTChoice

Federal law mandates that we disclose the maximum amounts of Federal Grant and Loan assistance available to you. Maximum eligibility for Federal financial aid is based on the results of the FAFSA and is outlined in the student’s award letter. The maximum available grants and loans are listed below:

• Federal Pell Grant                  $5,550
• Federal SEOG Grant             $4,000 (Maximum award at Loras College is typically $500)
• Federal TEACH Grant           $4,000
• Federal Perkins Loan             $5,500 (Maximum loan at Loras College is typically $2,500)
• Federal Direct Stafford Loan  $5,500 Freshmen, $6,500 Sophomores, $7,500 Juniors/Seniors,$20,500 Graduate Students. Independent students can receive an additional $4,000 as Freshmen and Sophomores, and $5,000 as Juniors and Seniors.
• Federal Parent PLUS Loan      A parent may borrow up to the cost of attendance minus other aid received.

Some Questions to Consider Before Selecting a Private Loan

If you have any additional questions regarding private education loans, please contact the Office of Financial Planning at financial.planning@loras.edu or 563-588-7136.