Baccalaureate Mass ~ Mercy Center Chapel
Additional Safe Boating Course (June 9 & 11)
Whether you are a dependent or independent student, it is likely that you will
need to borrow some funds to pay for your college education. Grants,
scholarships, work study and your Expected Family Contribution will pay for
most of your college expenses. A loan will fill in any financial gaps. If you have not applied for your NYS or HESC PIN, go to www.hesc.org and complete the process. You will need the HESC PIN to complete the master promissory note for the loan.
If you have your New York State PIN, your FAFSA is done, and you have met with a Financial Aid Counselor, you have a good idea how much you will need to borrow. The Financial Aid Counselor will explain the types of loans that are available to you.
Trocaire College’s Financial Aid Office has adhered to specific criteria to assist students and families in receiving excellent customer service and quality loan products in the loan selection process. The criteria includes: Competitive Rates, Borrower Benefits, Customer Service and Technical Support.
Students have the right to select any lender of their choice and will suffer no penalty for selecting a lender who is not on our list. Be sure to ask about borrower benefits, customer service hours, processing time and life of loan servicing when choosing a lender.
Trocaire College’s “Recommended Lenders”
Stafford Loans:
Bank of America
1-800-344-8382
Lender Code: 831846
Citizens Bank – RBS Citizens, N.A.
1-800-708-6684
Lender Code: 810240
Edamerica
1-888-337-6884
Lender Code: 831453
Key Bank
1-800-233-0631
Lender Code: 811025
Wachovia Bank
1-800-338-2243
Lender Code: 830005
* The table below contains a brief explanation of each federal loan that Trocaire College participates in. A comprehensive explanation of the federal loan process is contained in the handbook, The Guide to Federal Student Aid. This handbook is free and available in our Financial Aid Office, or online at www.FederalStudentAid.ed.gov.
Please note that Trocaire College does not participate in Federal Perkins Loans, or Direct Loans through the Federal government.
|
Federal Student Aid Program |
Type of Aid |
Program Details |
Annual Awards Limits |
|
Stafford Loan (subsidized) |
Loan must be repaid |
U.S. Dept. of Education pays interest while you are in school. You must be at least a half-time student and have financial need. |
$3,500 to $4,500 depending on grade level and dependency status. |
|
Stafford Loan (unsubsidized) |
Loan must be repaid |
Borrower is responsible for interest during life of the loan. You must be at least a half-time student. Financial need is not a requirement. |
$4,500 to $8,500 (less any subsidized amounts received for the same period), depending on grade level and dependency status. |
|
PLUS Loan |
Loan must be repaid |
Available to parents of dependent undergraduate students who are enrolled at least half-time. Financial need is not a requirement. PLUS Loans are unsubsidized. Borrower is responsible for interest during the life of the loan. |
Maximum amount is cost of attendance minus any other financial aid the student receives, no minimum award amount. |
* Source - The Guide to Federal Student Aid