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Student & Parent Loan Options at Â鶹ŮÀÉ

Loans can be a helpful resource in financing your education, but the right choice matters. At Â鶹ŮÀÉ, our Financial Aid Office guides you through federal student loans, parent PLUS loans and private/alternative loans so you can borrow wisely, understand repayment and keep your goals on track.

 

All first-time direct loan borrowers at Â鶹ŮÀÉ must complete both Entrance Loan Counseling and a Master Promissory Note at before loans can be disbursed to their account.

Types of Loans You SHould Know

  • — Low‑cost, government‑backed loans available to eligible students based on your FAFSA® and enrollment. 
    • To learn more, visit
    • To receive this funding, complete the following steps:
      • Accept the loans funds in on the financial aid window
      • Complete a Master Promissory Note (MPN) at . Log in using your FSA ID
      • Complete Loan Entrance Counseling at . Log in using your FSA ID
  • — For parents of dependent students; borrowed under the student‑aid process and may have a credit check.
    • To learn more, visit .
    • To apply, visit
    • You will use your parent FSA ID to log in. Once the application is complete you will also need to complete a Master Promissory Note at , selecting “I’m a Parent of an Undergraduate Studentâ€
    • One parent must complete both the application and the Master Promissory Note (MPN) at
  • — Provided by external lenders; terms vary. Only recommended when federal options aren’t sufficient.

    • Private parent loans are private education loans that parents, family members, or other creditworthy individuals may borrow to assist undergraduate and graduate students who are attending school full time, half time or less than half time.  The student cannot be the borrower or the cosigner.

    • To apply for a private education loan, please click on for lender information and selection.

How to Borrow Responsibly

  1. File your FAFSA® first. This determines eligibility for grants and student loans.
  2. Accept only the loan amounts you need on your my.Bluffton portal. The less you borrow, the less you’ll have to repay later. 
  3. Complete and sign your for federal loans before disbursement. 
  4. Understand repayment: what your monthly payment might look like, when repayment begins, and how to manage your debt.
  5. Use extra funds for academic and educational costs, not unrelated purchases. Keep your debt aligned with your future earning potential.

What Happens After You Accept a Loan

  • Your loan funds will be applied to your student account once you’re enrolled at least half‑time and all requirements (MPN + counseling) are complete.
  • You’ll receive a disclosure statement telling you how much you borrowed, your interest rate, when repayment begins, and your rights.
  • Stay enrolled and maintain satisfactory academic progress. Failure to do so may impact your eligibility for future loans.

Tips to Keep Your Debt in Check

  • Compare loans: federal vs private. Federal loans often have more protections (income‑driven repayment, forgiveness options).
  • Making small payments or interest‑only payments while in school if possible helps reduce overall cost.
  • Monitor your total debt‑to‑income ratio. Aim for your monthly student debt payment to be manageable in your future job.
  • Consider employment or work‑study to offset what you borrow. Bluffton offers on‑campus job opportunities through Learn & Earn.
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