Education loans

Loans are available to students and parents to provide them with funding after all other financial aid options have been reviewed. Unlike other financial aid such as scholarships, awards and grants, loans are borrowed money that must be repaid with interest. Do not borrow more than you need!

Federal loan programs

Concordia participates in the William D. Ford Federal Direct Loan Program. To be eligible for federal loans the student must be a U.S. citizen or an eligible noncitizen.

Please visit www.studentaid.ed.gov for a complete student guide on all financial aid programs from the U.S. Department of Education including the Federal Direct Loan Program.

Federal Stafford loan

Federal Stafford Loans are low-interest, long-term loans. Both subsidized and unsubsidized Federal Stafford Loans have the same terms and conditions, with one exception: Unsubsidized loan borrowers are responsible for interest that accrues during all in-school, grace and deferment periods; for subsidized loans, the federal government pays the interest on behalf of the borrower while the student is in school and during the grace period. In order to be eligible for Stafford Loans, a student must file the FAFSA.

Federal Perkins loan for Undergraduate Students

The Federal Perkins Loan is a need-based loan administered and awarded by Concordia. Because the Perkins Loan funds are limited at each school, they are only made available to students with the highest financial need. This loan does not accumulate interest while the student is in college and payment is deferred until after the student ceases to be enrolled in school. In order to be eligible for Perkins Loans, a student must file the FAFSA.

Parent Loan for Undergraduate Students (PLUS)

PLUS Loans are federal education loans available to the parents of dependent, undergraduate students. To be eligible for the loan, the borrowing parent must have satisfactory credit. There is no minimum or maximum income requirement. The maximum amount parents may borrow on a PLUS loan each academic year is the cost of attendance minus other financial aid received by the student.

Alternative loan

Alternative (private) loans are credit-based loans from private sources available to assist families with educational expenses. Eligibility for alternative loans is not based on need. Alternative loans should only be considered after reviewing all other financial aid options.

Check with the lender of your choice for details or view the list of alternative loans offered by Concordia’s proposed lenders.

Borrowers have the right and ability to select the private education loan provider of their choice, and are not required to use any of the lenders on this Proposed Lender List, and will suffer no penalty for choosing a lender that is not on this Proposed Lender List.