Which Loans Fit Your Needs?
At DWU, students have many educational loan opportunities. Each loan type has its own criteria and benefits—which can be a little overwhelming. Because of this, our Financial Aid Office can help you figure out which funding option(s) are the best fit for you.
Please note that we require all students who request federal funding to file the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. This ensures that you receive notice of all Title IV loans and grant assistance before you make the decision to apply for a private loan. For all students, the best loan options are federal loans.
We are required to disclose the maximum Title IV grants and loan assistance available to you. The maximum available grants and loans are listed below:
- Federal Pell Grant: $5,920
- Federal SEOG Grant: $4,000
- Federal TEACH Grant: $4,000
- Federal Direct Stafford Loan: $5,500 for freshmen, $6,500 for sophomores, $7,500 for juniors/seniors, $20,500 for graduate students. Independent undergraduate students can receive an additional $4,000 as freshmen and sophomores, and $5,000 as juniors and seniors.
- Federal Perkins Loan: $5,500 for undergraduates.
- Federal Parent PLUS Loan: Cost of attendance minus other financial aid.
Once all federal options have been exhausted, you may want to pursue private loan options.
All students who take out federal student loans are required to participate in entrance and exit counseling.
There are a number of private loan options to help students.
To select a lender and to apply online, go to FASTChoice Student Loan List.
United Methodist Loans
If you are an active member of a United Methodist Church, loan options may be available.
National Student Loan Data System (NSLDS)
You can also use the National Student Loan Data System (NSLDS) website to view information about your federal Stafford, Perkins, and PLUS loans and/or Pell grants.
Additional Information About Student Loans:
If you’re interested in doing your own student loan research, we’ve put together a list of resources you might find helpful:
- Direct Loan Consolidation
- Facts About Discharging Your Student Loan
- Guide to Defaulted Student Loans
- Loan Consolidation and Rehabilitation
- Options for Postponing Repayment - Deferment and Forbearance
- Repaying Student Loans
- Teaching Service Cancellation/Deferment Options
- Student Loan Ombudsman
Questions? We’re here to help—just call or contact us and we’ll do what we can.