Loans - Abilene Christian University

Loans

Available loans:

About loans:

Satisfactory academic progress must be sustained by each student in order to maintain any financial aid program.
A student may borrow no more than the annual limit shown for his/her combined subsidized and unsubsidized Stafford loans.
Additional loan amounts may be available to independent students and to students whose parents are ineligible for the Parent Loan program.
Deadlines represent risk dates. Students who apply after these dates may find they are eligible, but may not be awarded loans due to limited funding.
Visit Student Financial Services' Lender List.

College Access Loan (CAL)
Who	Texas Residents only, undergraduate or graduate level. Demonstrated need not required
How Much	Cost of education per student minus other aid.
How to Apply	Online at www.hhloans.com
Deadline	May 1
Other	Fixed interest rate, currently set at 6%
Federal Stafford Loan - Subsidized
Who	Undergraduate or graduate students with demonstrated need.
How Much	Annual Maximums: Freshman = $3,500 Sophomore = $4,500 Junior and Senior = $5,500 Graduate student = $8,500 Cumulative Maximums: Undergraduate = $23,000 total Undergraduate + Graduate = $65,500 Additionally, all undergraduate students are eligible for $2,000 Unsubsidized Stafford Loan above the maximums stated for Subsidized Stafford.
How to Apply	Complete FAFSA annually. Contact bank or ACU for student loan application.
Deadline	May 1.
Other	Subsidized; government pays interest. Current fixed rate, capped at 8.25%, is adjusted annually on July 1. Interest is paid (subsidized) by the government while in school. Principal is deferred.

Federal Stafford Loan - Unsubsidized
Who	Undergraduate or graduate students with no demonstrated need.
How Much	Annual Maximums: Freshman = $5,500 Sophomore = $6,500 Junior and Senior = $7,500 Graduate student = $10,000 Cumulative Maximums: Undergraduate = $23,000 total Independent Undergraduate = $57,500 (of which no more than $23,000 may be subsidized) Undergraduate + Graduate = $138,500 total (of which no more than $65,500 may be subsidized) The same limits apply jointly to subsidized and unsubsidized Stafford Loans.
How to Apply	Complete FAFSA annually. Contact bank or ACU for student loan application.
Deadline	May 1.
Other	Unsubsidized; borrower pays interest. Current fixed rate, capped at 8.25%, is adjusted annually on July 1. Interest is paid� by the borrower while in school. Principal and interest may be deferred at borrower's option.

Federal Parent Loan for Undergraduate Students (PLUS)
Who	Credit-worthy parent of a dependent student. Demonstrated need not required.
How Much	Cost of education per student minus other aid.
How to Apply	Contact bank or ACU for student loan application.
Deadline	May 1.
Other	Current variable rate, capped at 9%, is subject to change. Repayment of principal and interest may be deferred at borrower's option. Variable interest rate adjusted annually on July 1.

Third Party Loans
Who	Undergraduate or graduate students. Demonstrated need not required.
How Much	Cost of education per student minus other aid.
How to Apply	Contact ACU for more information.
Deadline	May 1.
Other	Variable interest rates. Many banks offer additional education loans.