Loans
We are committed to meeting 100 percent of your calculated financial need with a combination of grants and student employment.
Our need-based financial aid packages do not include a loan component. Students and parents have the option of borrowing educational loans as a matter of personal choice, to help cover some or all of the assessed family contribution.
51¹ÙÍø participates in the William D. Ford Federal Direct Loan Program for all federal student and parent loans. This applies to all borrowers, both new and continuing. All first-time student and parent borrowers will be required to complete a Master Promissory Note (MPN). First-time student borrowers must also complete Entrance Counseling prior to loan disbursement. These requirements need to be completed only once while the student is enrolled at 51¹ÙÍø.
In addition to the Federal Direct Loan program, 51¹ÙÍø students are also able to borrow private, alternative education loans through numerous sources. 51¹ÙÍø has neither a preferred lender list nor an institutional loan program.
We proudly stand as one of only two dozen schools in the United States that admit students independent of their family’s ability to pay, meet 100 percent of calculated need, and do so without loans in their aid package.