Federal Loan Programs

The U.S. Department of Education administers the Federal Family Education Loan (FFEL) Program, the William D. Ford Federal Direct Loan (Direct Loan) Program, and THE PERKINS LOAN Program. Both the FFEL and Direct Loan programs consist of what are generally known as Stafford Loans (for students) and PLUS Loans (for parents). Brescia University only deals with FFEL loan funds. FFEL loan funds arrive to Brescia University directly from a bank, credit union, or other lender that participates in the program.

Brescia University participates in the following federal loan programs:

Perkins Loan Program

Perkins Loans are federal loans that are open to qualified students at a maximum of $4,000 per year. Unlike the Stafford Loan Program, the Department of Education provides Brescia University with a certain amount of Perkins Loan funds each year. Please visit http://www.studentaid.ed.gov/ for further information.

PLUS Loan Program

The PLUS Loan is a way for parents to help pay educational expenses for their dependent undergraduate student that is enrolled at least half time at Brescia University. In order to be eligible, parents must complete and submit a PLUS Loan application available in the Financial Aid Office. The yearly limit on a PLUS Loan is equal to the student’s cost of attendance minus any other financial aid eligible to the student. Further information can be found by visiting http://www.studentaid.ed.gov/.

Stafford Loan Program

The Federal Stafford Loan program comes in two types: Subsidized Stafford Loans, and Unsubsidized Stafford Loans. For a Subsidized Stafford Loan, the interest that accrues on the note is paid by the federal government as long as the student is attending school half time. The government also pays the interest on a Subsidized loan for the six-month grace period after a student graduates from Brescia University or falls below half-time enrollment status.

The Unsubsidized Stafford Loan in not need-based and the government does not pay any of the interest on the note. Instead, it is the student’s responsible to pay the interest while enrolled or defer the interest until the student is out of school for six months.

The interest rate for both Stafford Loans may not exceed 8.25% and the following limits are assigned:

  • Up to $2,625 as a freshman.
  • Up to $3,500 as a sophomore.
  • Up to $5,500 for all remaining undergraduate years.


For more information regarding Brescia University’s preferred lender list, please contact the financial aid office.

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