Howard College
A Beacon of Education and Life-long Learning
Financial Aid
The following loan programs provide assistance to students who have additional financial need to cover the cost of attending college. The FAFSA must be completed to determine eligibility for the Federal Stafford Loan.
These are low-interest loans available through private or state lenders. Students who demonstrate need may borrow through the subsidized loan program, i.e., the Federal Government will pay the interest on the student's loan while he or she is enrolled at least halftime. Those who do not qualify for the subsidized loan (in whole or part) may be considered for the unsubsidized loan; however, the student must pay interest that accrues on the loan during the entire period of the loan.
The Parent Loan for Undergraduate Students (PLUS) is available for parents of dependent undergraduate students.
There are limits on how much a student can borrow. The annual borrowing limits for a Subsidized Stafford Loan are $3,500 for freshman students and $4,500 for sophomore students. Independent students may be eligible to borrow up to $4,000 through the Unsubsidized Stafford Loan Program. The Howard College aggregate limit is $23,000. This includes loans received at other institutions. Howard College will not certify a loan for a student or parent if a history of delinquent or defaulted loans exists.
