FEDERAL PERKINS LOAN (FORMERLY NDSL)

The Federal Perkins Loan Program provides low-interest long-term loans to assist needy students in the financing of their education. These loans are awarded through the Financial Aid Office. Interest does not accumulate until the student graduates or leaves school. These loans must be repaid to Miles College. Repayment begins six months after you leave school.

THE WILLIAM D. FORD FEDERAL DIRECT STUDENT LOAN PROGRAM

THE WILLIAM D. FORD FEDEARL DIRECT STUDENT LOAN PROGRAM is a low-interest loan made to a student by the U S Department of Education to help the student pay for his/her education after high school. Undergraduate loans range from $3,500 for freshmen, $4,500 for sophomores, to $5,500 for juniors and seniors based on demonstrated need. A student must first apply for a Federal Pell Grant and have his/her eligibility or ineligibility for such a grant determined before the Direct Loan can be certified.

THE WILLIAM D. FORD FEDERAL PLUS LOAN PROGRAM

This loan program makes long-term loans to parents of dependent students to pay for the cost of study at a post-secondary school. Data for the William D. Ford Federal Plus Loan Program may be obtained from the Financial Aid Office. The size of the loan is determined by the college, based upon the budgets set for the Miles College Federal Student Financial Aid Programs.