Types of Student Loans
We offer three kinds of federal loans at Whitman: the Perkins Loan, the Direct Loan, and the Parent PLUS Loan. Direct Subsidized Loan and/or Perkins Loan may be offered to students who demonstrate need based on their FAFSA results. The Federal Direct Unsubsidized Loan may be offered to students who do not demonstrate need.
Interest rates for the 2015-16 school year are as follows:
- Direct Subsidized - 4.29%
- Direct Unsubsidized - 4.29%
- Perkins - 5%
- Parent PLUS Loan - 6.84%
For students who have need for loan beyond their eligibility for Federal Direct Loans or Perkins Loan, several lenders offer alternative/private student loans. These loans are not part of the federal loan program, so no subsidies are offered.
If you need additional loans, stop by the Office of Financial Aid Services and we will be happy to discuss your options with you.