Apply for a Loan
Apply for a Stafford Loan Apply for a PLUS Loan Apply for a Private Loan
Federal Student and Parent Loans
Endicott College participates in the Federal Direct Loan Program. In this program, the federal government acts as the student loan lender for the following programs:
- Federal Direct Stafford Loan (Subsidized and Unsubsidized)
- Federal Direct Parent Loan for Undergraduate Students (PLUS)
- Federal Direct Graduate PLUS Loan
Federal Direct Stafford Loan
Provides federally insured funds of up to a maximum of $3,500 for first year students, $4,500 for second year students, and $5,500 for third and fourth year students. Graduate students may borrow up to $8,500 annually. The 2012-2013 rates for the undergraduate Federal Direct Stafford loans are 3.86% for the subsidized loans and 3.86% for all unsubsidized loans. There is also a 1.051% origination fee deducted from each loan disbursement. All undergraduate students are eligible to borrow up to $2,000 in an unsubsidized Federal Direct Stafford Loan in addition to the annual loan limits listed above.
All new borrowers must complete two important steps as part of the Federal Direct Stafford Loan process
Step 1: Complete the Federal Direct Stafford Loan Entrance Counseling. Entrance Counseling will provide you with important information that includes the terms and conditions of your loan as well as information on your rights and responsibilities as a loan borrower.
Step 2: Complete the Master Promissory Note (MPN). The MPN is a legal agreement between you and the federal government.
To complete both the Entrance Counseling and Master Promissory Note, click on the link below to access the student loans.gov website. Once there, click on the green "Sign In" box under Manage my Direct Loan. In the center of the page, click on "Complete Entrance Counseling" to complete that step and then choose "Complete Master Promissory Note" and select "Subsidized/Unsubsidized" as the MPN type.
Complete the Federal Direct Stafford Loan Master Promissory Note and Entrance Counseling (New Borrowers Only)
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Federal Direct Parent Loan for Undergraduate Students (PLUS)
Loan funds are available to credit-worthy parents of dependent students through the federal government. These loans are not based upon financial need and parents may borrow up to the cost of attendance minus financial aid annually for each dependent, undergraduate student. The interest rate is fixed at 6.41% with a 4.204% origination fee deducted from each disbursement. Repayment for PLUS loans may be deferred until after the student ceases to be enrolled at least half time, however, interest will begin accruing as soon as the loan is disbursed to the College.
To apply for a 2013-2014 Federal Direct PLUS Loan you will need to "Request a PLUS Loan". To start the application/initiate the credit check and if it is your first PLUS Loan for this student, you must also complete the Federal Direct PLUS Loan Master Promissory note (MPN). Click on the link below to access the Studentloans.gov website. Once there, click on the green "Sign In" box under Manage My Direct Loan. In the center of the page, click on "Request a PLUS Loan" to complete the application step and then choose "Complete Master Promissory Note" and select "Parent PLUS" as the MPN type (if you have not completed an MPN for this student Previously).
Complete the Federal Direct Plus Loan Master Promissory Note
Private loans are an option for students and families to assist them in paying for educational expenses that are not covered by other types of financial aid. It is strongly recommended that you apply for federal aid first as federal loan programs often have more favorable terms than private loans. While we want to make information on loan borrowing available to all eligible participants, we by no means want to advocate unnecessary borrowing. We recommend a student borrow conservatively and only what they need. Students who borrow a private loan will be required to complete an application and a Self-Certification Form. Both of these forms will be provided by the selected loan provider. You will need the college's Cost of Attendance to complete the Self-Certification Form.
Endicott College invited lenders to provide information about their education loan products through a Request for Information (RFI) process. The College reviewed the information provided, and based upon that information, identified options as having competitive rates, good customer service and attractive borrower benefits. Endicott College strictly adheres to a Code of Conduct for Education Loans in the selection of private loan lenders.
You are welcome to borrow from any lender of your choice without penalty whether or not that lender is listed here and we will be happy to answer questions or provide information as you identify the loan options that will best suit your family's needs.
To help our students and their parents navigate the increasingly complex private loan landscape, Endicott College has partnered with a company called Elm Select. To review a list of commonly used private loan options, click here to link to Elm Select
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