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Federal Stafford Loan
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To apply for a Federal Stafford loan you must Indicate your interest in the loan by your response to question #31 on the 2009-2010 FAFSA..
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Accept your loan via
MYWCUat the West Chester University Web site.
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First-time borrowers must select a lender at the time they accept the award on MYWCU.
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First-time borrowers must complete an
on-line entrance interview via
www.aessuccess.org.
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First-time borrowers must sign a Master Promissory Note (MPN). AES borrowers must sign
the MPN on-line version using your
federal PIN. Master Promissory Notes will be available in Mid-July. Students will receive instruction/communication from their selected lenders regarding signing the MPN.
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Citbank borrowers sign the MPN at www.studentloan.com
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Previous borrowers do not usually need to sign a Master Promissory Note (MPN), or do entrance counseling more than once.
Federal Perkins Student Loan
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To be considered for a Federal Perkins Student Loan you are encouraged to complete your FAFSA in compliance with the March 1st PRIORITY deadline. Please Indicate your interest in the loan by your
response to question #31 on the 2009-2010 FAFSA.. Your record
will be screened for eligibility as part of WCU's packaging process.
Consideration for Federal Perkins Student Loans is given first to our "high need" students,families with an EFC-Expected Family Contribution in the range of 0-500. Cost of
Attendance (COA) minus Expected Family Contribution (EFC) = need.
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If you are offered a Federal Perkins Loan you MUST accept your loan via MYWCU at the West Chester University Web site.
First-time borrowers must. .
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Complete an Entrance Interview on-line at www.MappingYourFuture.org
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Complete and submit a Perkins Acknowledgement/Reference Form to the Financial Aid Office.
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The form is available at www.MappingYourFuture.org and in the aid office.
- Complete and sign a Master Promissory Note MPN in the financial aid office.
- These funds are limited and in very high demand. You are encouraged to complete these steps as soon as possible to avoid cancellation of the award.
In addition, please download and print the Federal Perkins Student Loans
**Fact Sheet**
Note: Some previous WCU borrowers
may be required to complete a NEW Master Promissory Note
(MPN). If you are required to sign a Federal Perkins Student Loan MPN, the note will be available
2 business
days AFTER you accept your loan on-line at MYWCU. We invite you to sign the MPN
when you are on campus, during the summer, for orientation.
Federal Nursing Student Loan
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Nursing majors (only) that have filed their FAFSA in compliance with the March 1st deadline will be reviewed for Nursing Loan eligibility.
- The Federal Nursing Student Loan has a fixed interest rate of 5 percent.
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If you are offered a Federal Nursing Student Loan you MUST accept your loan via MYWCU at the West Chester University Web site.
First-time borrowers must. .
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Complete an Entrance Interview on-line at www.MappingYourFuture.org
- Complete and submit a Acknowledgement/Reference Form to the Financial Aid Office.
- Complete and sign a Master Promissory Note MPN in the financial aid office. The MPN
is signed each time the student receives an additional loan advance.
Parent Loan for Undergraduate Students (PLUS)
Parents with good credit histories may borrow funds to help pay educational expenses of a dependent child enrolled at least half-time.
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Parents are notified both by the school and lender of the amount awarded.
- Most parents apply for PLUS at www.aessuccess.org Citibank borrowers go to www.studentloan.com
Alternative Loans
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Alternative Loans are education loans that have, depending on the lender, a variety of terms and rates. Students with sufficient income and credit may be borrowers on these loans; parents may be borrowers or co-signers if their students do not meet the lender’s income and/or credit criteria.
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Students and parents should carefully consider interest rates and terms ("comparison shop").
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