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For full-time undergraduate students
PART 2 (This page) :
Types of Aid that may be listed in your Award LetterMore Information:
These are all forms of gift aid, “free money” that you do not have to repay. You will find these awards listed on your award letter.
How To Get These Funds: No further steps are needed.
Work Study is a Federal need-based program where you can earn the amount listed by working at a part-time job that is usually on campus.
How To Get These Funds: Visit the Career Services Office at Chaminade during the first week of the first semester for which a work allotment appears to receive a job referral. A work study award does not guarantee employment. You must be officially hired to earn money. Do not wait too long to obtain a work study job, as positions do fill up.
» See Career Services/Job Placement
Student Support Services Building
Building P on our Campus Map
The loan amounts listed in your award letter reflect the maximum that you can borrow according to program regulations. Remember, you are not obligated to borrow; it is entirely up to you and your family to decide to borrow or not.
All loans are federal loans, except for loans designated as Priv Alt (For Private Alternative Loan.)
How To Get These Funds: In most cases, you will need to complete either a loan application or a master promissory note. You will also need to fill out an entrance interview form. First time borrowers for all loans listed below, except the Perkins, can select a lender and apply online through Chaminade’s Web Advisor at portal.chaminade.edu. (For the Perkins, apply at the financial aid office.)
• Subsidized Stafford (Sub Stafford), is a need-based federal loan program. The loan is obtained through the Department of Education. Please visit the StudentLoans.gov web site for more information. It is between 5.0%-6.8% fixed rate. This loan requires the applicant to complete either a loan application or a master promissory note. Principle and interest payments do not have to be made as long as you are attending school at least half-time.
• Perkins Loan is a need-based federal loan program provided through Chaminade. If you are awarded a Perkins you will need to complete a promissory note with our financial aid office. The availability of this loan is determined by annual funding. It is a 5% fixed rate. Principle and interest payments do not have to be made as long as you are attending school at least half-time.
• Unsubsidized Stafford (UnSub Stafford) is a non-need-based federal loan program. The loan is obtained through the Department of Education. Please visit the StudentLoans.gov web site for more information. It is a 6.8% fixed rate. This loan requires the applicant to complete either a loan application or a master promissory note. Payments,(either principle and interest, or interest only) usually begin while you are still in school.
• PLUS is a loan for parents of undergraduate students. It is a non-need-based federal loan program. The loan is obtained through the Department of Education. Please visit the StudentLoans.gov web site for more information. The lender will perform a credit check on the borrower. It is a 8.5% fixed rate. If a parent borrower is denied a PLUS, the student can be provided with an additional UnSub Stafford. Payments,(either principle and interest, or interest only) usually begin while you are still in school.
• Private Alternative Loans (Priv Alt) are not a federal program and not need-based. The loan is obtained through a commercial lender. Often the student borrower must obtain a credit-worthy co-signor. Interest rates vary. Payments, (either principle and interest, or interest only) usually begin while you are still in school.
SEMESTER NOTE: As a full-time student in our undergraduate program, you should see amounts listed for Fall Semester and Spring Semester. Please call us if the schedule does not reflect what you expect or you have questions.
You may be advised through additional correspondence to submit additional documents (such as tax returns.) Please read everything sent to you and follow all relevant instructions in a timely way.
If you respond to each communication in a timely way, your aid will be paid out at the start of each semester (but no sooner than 10 days prior to the start of school.)
For those who choose to take some of the awards but not the entire loan recommendation, we offer a tuition payment plan. A brochure will be enclosed with your award letter. For more information about the tuition payment plan, contact our business office at 808-735-4898.
