Loan Information
Federal Loan System

Entrance and Exit Counseling are required for all federal student loans. These counseling sessions provide a borrowing student with information on his/her rights and responsibilities as a borrower as well as repayment information and options. These sessions also explain the consequences for failing to repay a student loan. Exit Counseling also includes a review of debt management strategies and loan forgiveness options. Entrance Counseling can be completed online at:
Exit Counseling can be completed at:

National Student Loan Data System

Students can also use this Web site to access information about federal loan amounts, outstanding loan balances, status, record of disbursements, and servicer contact information.

Stafford Loan Request Form

William D. Ford Direct Federal Subsidized Stafford Loan - Eligibility determined by grade level and need. Must submit a Free Application for Federal Student Aid. If approved, lifetime aggregate amount up to $23,000 for all undergraduate study. Interest is subsidized as long as the student is enrolled at least half-time. Repayment and interest accumulation begin six months after graduation on a monthly basis. Repayment extendable to 10 years with minimum monthly payments of $50. Must complete a Master Promissory Note (MPN). Click here to begin the application process.

William D. Ford Direct Federal Unsubsidized Stafford Loan - Same as subsidized Stafford, except not based on financial need. Students are responsible for quarterly interest on the loan while in attendance at college. Interest accumulates immediately at a fixed rate and the current interest rate can be found at:  Students may or may not choose to pay interest on the loan while in attendance at college. Click here to begin the application process.

Federal Perkins Loan – Is available to students who demonstrate need and meet institutional criteria as long as funds are available. Interest is subsidized as long as the student is enrolled at least half-time.  Interest is fixed at 5% and repayment starts nine months after the student leaves or is enrolled less than half-time.

Direct Federal PARENT Loan for Undergraduate Students (PLUS) -
This is a Parent loan for dependent students. Parents may borrow the
difference between the student’s cost of education and all other
financial assistance. The current origination fee is 4.292%.
Interest is fixed and the current interest rate can be found online
Repayment begins 60 days after the loan is fully disbursed (March).
Not based on financial need. Interest accrues beginning on the date
of the loan’s first disbursement. A parent may elect to defer payments
until student graduates through forbearance options. 
Click here to begin the application process

Private Loans

All graduating senior private loan borrowers should consider

FAST Choice Repayment Essentials

  • Stay on top of your private loan.
  • Know your repayment options.
  • Troubleshoot repayment issues.
  • Learn about private loan consolidation options.

Additional Private Student Loans- Several financial institutions provide low-interest loans for students who might need additional assistance after federal loan options are used. The various loans differ by interest rate, interest capitalization, guarantee fees, and co-signer options. There are very few that will allow a student to borrow on their own credit. Students have found that applying with a co-signer results in a lower interest rate.  Interest begins accruing at disbursement but in most cases no payment is required until six months after graduation or a student drops below half-time enrollment. We recommend that students compare several lenders before selecting a private loan. For your convenience, click here to access a list of alternative loans available from private lenders.

Loan Regulations

Wartburg College is required by federal regulations to comply with individual lender terms and cannot certify a loan for more than your eligibility as determined by the student cost of attendance minus any other available financial aid. Wartburg College does not participate in revenue-sharing practices, referral fee arrangements, or private loan application fee payments.

Code of Conduct for Educational Loans