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Loans

There are many different types of student loans available to students, including loan programs for parents of college students. Most loans are available through the federal government and a student must submit a FAFSA (Free Application for Federal Student Aid) form to determine eligibility.

For more information about loans, please contact:

Office of Financial Aid phone | 606.539.4220  |  1.800.343.1609 and ask for Financial Aid 
financialaid@ucumberlands.edu

Federal Loans

Federal Direct Loan

There are two types of Federal Direct Loans, subsidized and unsubsidized. 

Eligibility for each type depends on financial need. If you are awarded a Federal Direct Loan, you must complete Entrance Counseling and a Master Promissory Note (MPN) at www.studentloans.gov.

Federal Direct PLUS Loans for Parents

A Direct PLUS Loan is a federal loan for parents of college students. Parents must complete the Parent PLUS application process and credit check at www.studentloans.gov to determine if they are eligible. The credit check is only valid for 90 days.

 

A Direct PLUS Loan is a federal loan to provide additional educational funding based on credit. To determine eligibility, graduate students or parents of undergraduate students must complete the application process and credit check HERE. The credit check is only valid for 90 days. Graduate students must also complete a Master Promissory Note (MPN). Parents must complete a Master Promissory Note HERE.

Private Loans

Private Loans

FastChoice makes it easy to find a private loan by providing an easy-to-understand format, to help you determine which private student loan best meets your needs. To apply for private loans, use this comparison tool to shop around and choose a preferred lender. Proceed to FASTChoice.  

If you need assistance with the information required for the self-certification form, please contact the Office of Financial Aid at 606.539.4220 or email financialaid@ucumberlands.edu. 

More information on private loans

TITLE X – HIGHER EDUCATION OPPORTUNITY ACT 

As part of the Higher Education Opportunity Act, lenders offering private loans for postsecondary educational expenses are required to provide certain disclosures. These disclosures include, but are not limited to, the loan terms and features at the time of the application and before the funds are disbursed to the University. 

These disclosures provide information to borrowers and co-signers about the terms of the loan. Students must complete a self-certification form that notifies them about additional student loan programs that may offer less costly alternatives. As the borrower of the loan, if you wish to cancel the loan after the final loan disclosure is sent, you have a three-day rescission period. 

Lender Disclosures

(click the links below to view loan disclosure information for each lender)