Financial Aid & Scholarships
STUDENT LOAN PROCESSING
- Federal Stafford Loan
- Federal Perkins Loan
- Federal PLUS Loan (Parent Loan to Undergraduate Students)
- Private Educational Loans
- Anderson University's List of Preferred Lenders
Federal Stafford Loans
Eligibility
Your financial aid award letter will state your eligibility for both the Subsidized and Unsubsidized Stafford Loan. Visit the Loans section for more information on loan interest rates, maximum amounts, and terms.
PROCESSING YOUR LOAN:
First-time Borrowers
- Complete and submit online the Request for Stafford Loan.
- Complete the online Entrance Loan Counseling, an interactive session offering important information about your student loan, required of all first time borrowers.
- Complete online your Master Promissory Note after being notified that Anderson University has processed your loan request and that your loan has been approved (guaranteed). If you do not know who you have selected as your lender, contact the Office of Student Financial Services by phone at 1-800-421-1026 or e-mail us.
Select your lender or service provider:
Repeat Borrowers
Scenario 1: Based on your previous borrowing Anderson University may assume that you wish to borrow again for the next school year. If we are making this assumption (as stated in your award letter) your loan will be processed without you needing to do anything further. If you do not wish to borrow or wish to borrow a lesser amount notify the Office of Student Financial Services at 1-800-421-1026 or e-mail us.Scenario 2: If the Office of Student Financial Services felt they could not make a valid assumption regarding your intent to borrow you are being asked to complete and submit on line a Request for Stafford Loan.
Federal Perkins Loan
Eligibility
Your financial aid award letter will state your eligibility for the Perkins Loan. Visit the Loans section for more information on loan interest rates, maximum amounts, and terms.
PROCESSING YOUR LOAN:
First-time Borrowers
- If you do not wish to borrow, or wish to borrow a lesser amount, please contact the Office of Student Financial Services at 1-800-421-1026 or e-mail us.
- Before receiving your loan funds you will need to sign and complete a Master Promissory Note (MPN) and participate in an Entrance Loan Counseling session, both of which will be done on line. You will first receive an email from SignMyLoan indicating that the MPN for the Perkins Loan that AU is making available to you is ready for you to sign. Link to SignMyLoan and follow the on line instructions for signing your MPN.
Repeat Borrowers
- Under the terms of your Master Promissory Note you do not have to sign a new note each year. However, you will need to accept the loan by logging in to SignMyLoan.com.
- If you do not wish to borrow or wish to borrow a lesser amount contact the Office of Student Financial Services at 1-800-421-1026 or e-mail us.
Federal PLUS Loan (Parent Loan to Undergraduate Students)
Eligibility
Only the parent of a dependent student can borrow, on behalf of the student, a PLUS Loan. Visit the Loans section for more information on loan interest rates, maximum amounts, and terms.
PROCESS:
- Complete and submit online the Secure Request for PLUS Loan form.
- You may also request that a PLUS Loan Application and Promissory Note be sent to you by contacting the Office of Student Financial Services at 1-800-421-1026 or e-mail us.
- Complete online your Master Promissory Note after being notified that Anderson University has processed your loan request and that your loan has been approved (guaranteed). If you do not know who you have selected as your lender, contact the Office of Student Financial Services by phone at 1-800-421-1026 or e-mail us. Please select your lender or service provider:
College Bound
US Bank
Wells Fargo
Sallie Mae
Nelnet
All Other Lenders
Private Educational Loans
Eligibility
A student loan but usually requiring a credit worthy co-signer (usually the parent). Visit the Loans section and Anderson University's Preferred Lenders.
PROCESS:
- Obtain a loan application from your lender or apply online at the lender's Web site.
Anderson University's Preferred Lenders
To assist you in your selection of a lender for your Federal Stafford or Parent PLUS Loan, Anderson University has selected the following national student lenders as Preferred Lenders.
View the Preferred Lender Selection Process to learn more about why Anderson University selected these lenders and the process we used.
You are not required to choose from our list of preferred lenders. You have the right to select any lender you wish and to have your loans processed without delay regardless of the lender you choose.
AU Preferred Lenders: (in alphabetical order)
- Sallie Mae Education Trust
- U.S. Bank
- Wells Fargo Bank
Each of these lenders offer differing borrower benefits which, if you earn and keep, can reduce the amount you owe and/or interest rate of your loan. You are able to easily compare each of these lenders and the borrower benefits they offer by using a free online tool called BorrowSmart, a service of Tuition Management Systems.