Loans are
sources of
funding that
allow you to
spread the
cost of your
education
over time.
Loans are
available
from various
sources,
including
federal and
state
governments,
the
University
and private
lenders. As
you progress
toward your
degree
completion,
the amount
of annual
loan
eligibility
typically
increases.
When you
take out a
student
loan, you
must pay it
back -- even
if you do
not complete
your
education.
Loan
Programs at
a Glance
illustrates
the terms
and loan
limits of
most loan
programs
available to
eligible
Mercer
students.
Some loans
are
disbursed in
the form of
a check
which you
endorse and
use to pay
any charges
you owe the
University.
Other loans
are credited
to your
student
account
after you
complete a
promissory
note and any
other
required
documents.
Your loans
may be
canceled if
you don't
endorse your
loan checks
or complete
the required
documents.
The
Department
of
Education
will
be
offering
additional
loan
resources
for
graduate
students
through
the
new
Direct
Loan
GradPlus
Loan
Program.
This
program
is
available
to
eligible
graduate
students
who
are
enrolled
at
least
half-time
at
Mercer.
A
credit
check
must
be
performed
for
the
borrower;
and
loans
cannot
be
originated
until
July
1.
Loan
maximums
equal
the
Total
Cost
of
Attendance
for
student's
program
minus
any
other
financial
aid
the
student
is
awarded.
For
further
information
regarding
this
new
program,
please
contact
Maria
Hammett,
Loan
Coordinator,
Main
Campus
(or
the
loan
coordinator
for
your
particular
campus).
Supplemental
Loans
In
addition
to the
loans
listed
above,
there
are
several
others
available.
Some are
for
parents,
some for
students
and some
are for
either
students
or
parents.
There
are also
other
loans
that are
tied to
specific
fields
of study
such as
medicine,
law and
business.
Contact
the
Student
Loan
Coordinator
in the
Office
of
Student
Financial
Planning
for more
information.
Alternative
Loan
Lender List
Click
here
to see a
comprehensive
list of
lenders.
