students

Questions?

Contact Us:

Office of Financial Aid
Glendening Hall, Room 130
240-895-3000

Nadine Hutton
Director
nlhutton@smcm.edu

Rob Maddox
Associate Director
rwmaddox@smcm.edu

Denise Merican
Assistant Director
dmmerican@smcm.edu

Doug Campbell
Assistant Director- Direct Lending
drcampbell@smcm.edu

Marsha Wilcox
Financial Aid Coordinator
mlwilcox@smcm.edu

 

Office of Financial Aid
St. Mary's College of Maryland
18952 E. Fisher Rd
St. Mary's City, MD 20686

Student Loans

Plus Loans

Resources

    

Direct Loan Programs

St. Mary's students who file the FAFSA and meet federal requirements may borrow funds under several Direct Loan programs, as determined by the Office of Financial Aid.

St. Mary's students who file the FAFSA and meet federal requirements may borrow funds under several Direct Loan programs, as determined by the Office of Financial Aid. Since a student loan must be repaid after graduation or withdrawal from the college, it represents a serious commitment on the part of the student.

Dept. of Ed.- http://www.federalstudentaid.ed.gov/

 

Student Loans

The Direct Loan Program enables students to borrow for educational expenses. There are two types of loans: Subsidized and Unsubsidized

Unsubsidized

  • Non-Need based loan
  • Will accrue interest until the loan is paid in full. This loan will be accruing interest while the student is in school.

Interest Rates: Fixed rate- 3.86%

Repayment: You do not need to start repayment until:

  • 6 months after graduation
  • Withdrawal
  • Leave of Absence
  • Drop below half-time status

Subsidized

  • Need-based loan
  • Student will not accrue interest until after they have left school.

Interest Rate: Fixed Rate- 3.86%

Annual maximums: yr1-$3500, yr2-$4500, yr3-$5500, yr4-$5500

Repayment: You do not need to start repayment until:

  • 6 months after graduation
  • Withdrawal
  • Leave of Absence
  • Drop below-time enrollment 

Direct Plus (parent Loan for Undergraduate Student) Loan

  • A loan taken by the parent of a student for educational expenses
  • Accrues interest until the loan is paid in full 

Interest Rates: Fixed Rate- 6.41%

Repayment: Borrower must contact their loan servicer to explore repayment option for their Federal Direct Loans

 

Resources

https://studentloans.gov/

http://www.finaid.org/

http://www.myfedloan.org/

http://www.nslds.ed.gov