STAFFORD LOANS ONLY

Step 1: Choose your lender.

Students are encouraged to apply for all grant and scholarship aid before accepting loans. Students may select any lender that provides Stafford Student Loans but remember that all lenders are not the same. Consider the lender's long-term involvement in making and servicing student loans, their customer services, their willingness to pay origination or default fees and to provide reductions in rates for on-time electronic payments, etc.

• To view a list of possible lenders, please click here. These lenders have a history of quality service to MUW students. Note: MUW does not have a "preferred" lender agreement (either written or implied) with any lender. The lender list provided is not a listing of all participating lenders but it is a listing of those lenders that our students have chosen in the past. We have developed an automated processing system to facilitate the application and disbursement of loan funds with these lenders and we can expand this listing upon request if your lender is not on the list below.

• Once you have selected your lender, please submit the “Choose your Lender form.” by clicking here.

If you do not find your lender on this list, provide us a written request for your loan with your name and id number, your lender name and code number. We will try to add your lender to our automated system and process your loan as quickly as possible.

Step 2: Entrance Counseling/Sign your Master Promissory Note.

To complete Loan Entrance Counseling, click here.

To complete Master Promissory Note, click here.

PLUS LOANS ONLY

Parent Plus loans are credit-based loans that supplement the amount you may borrow as a student. Parents must begin repaying both principle and interest within 60 days after the loan is fully disbursed. The lender charges interest on the loan from the date the first disbursement in made until the loan is paid in full.

Step 1: Complete the Parent Plus application process on line. When you apply, you can specify the amount of PLUS loan requested and also select the lender for your PLUS loan. (Most lenders who make "student" loans also make PLUS loans.)

Step 2: If approved, the parent must sign the Master Promissory Note with the appropriate lender.

NOTE; If the parent is denied, please contact our office to discuss further options. Usually, if a parent is denied a PLUS Loan because of adverse or insufficient credit, the student is allowed a supplemental "unsubsidized" student loan but it can only be awarded if there is a formal denial of the PLUS.

ALTERNATIVE LOANS ONLY

Alternative loans are privately funded supplemental loans that are credit based. If you would like additional information about this type of loan, click here or please contact our office for available brochures.
 

PAYMENT PLANS

Education expenses are easier to pay when spread over predictable, interest-free monthly payments. Our Interest-Free Monthly Payment Option, offered in partnership with Tuition Management Systems, is an alternative to large annual or term payments and helps limit borrowing. It is available for a small enrollment fee and includes:

·        Convenient, interest-free monthly payments

·        24-hour account access through Tuition Management Systems’ web site

·        Toll-free automated account information

·        Toll-free personal service Monday-Saturday at 1-800-722-4867

For costs and schedules, toll-free telephone numbers, or to enroll, click here: http://www.afford.com/muw