A private comprehensive liberal arts college in Salt Lake City, UT, offering undergraduate and graduate degrees in liberal arts and professional programs. Website
Student Loans

Student Loans

Federal Perkins Loan

Federal Perkins Loans are low-interest awarded to undergraduate students with exceptional financial need. Students will automatically be considered for the Federal Perkins Loan by completing the FAFSA).

  • no payment, no interest while in school
  • fixed 5 percent interest
  • 9 month grace period following graduation
  • requires half-time enrollment

The loan amount will vary based on a student's level of need and available funding. Awards generally range from $400 to $1,800 per academic year. The loan will be applied directly to the student's account after the Promissory Note has been signed and the student has completed Perkins Loan Entrance Counseling.

Federal Stafford Loan

This loan is a low-interest award for undergraduate and graduate students. A Stafford Loan is available to students with little or no financial need and is divided into two different loan programs: subsidized and unsubsidized. The difference between the two is the subsidized loan is awarded on the basis of financial need and the federal government will pay the interest on the loan while you are attending school at least part-time. However, the unsubsidized loan accrues interest while you're in school.

  • no principle payment while in school
  • capped interest rate of 8.25 percent
  • 6 month grace period following graduation
  • requires half-time enrollment

The amounts awarded on the Federal Stafford Loans are based on a student's academic level and status as either a dependent or independent of their parents as determined on the FAFSA. (To determine your maximum loan eligibility see the dependent undergraduate, independent undergraduate, and graduate tables below.)

Students awarded a Stafford Loan will be required to sign a Master Promissory Note during the first academic year that the funds are borrowed. The loan amount will be applied directly to the student's account once a Promissory Note has been signed and the student has completed Stafford Loan Entrance Counseling.

dependent undergraduate students

Cum. College Credit Hours

Academic Level

Stafford Loan Amount

0-28

Freshman

$2,625

29-59

Sophomore

$3,500

60-89

Junior

$5,500

90+

Senior

$5,500

 

independent undergraduate students

Cum. College Credit Hours

Academic Level

Stafford Loan Amount

0-28

Freshman

$6,625

29-59

Sophomore

$7,500

60-89

Junior

$10,500

90+

Senior

$10,500

 

graduate students

Academic Level

Stafford Loan Amount

Graduate

$18,500