Financial Aid
Alternative Loan Information
Important new loan provisions to be considered when making financing decisions (PDF)
Guidelines for Evaluating Private Alternative Loans (PDF)
Parent Federal Direct PLUS Loan
The Federal Direct Parents PLUS loan is administered through the Department of Education at a fixed interest rate of 7.9 percent. Parents of dependent students can borrow the funding necessary to meet the direct and indirect cost of their child's education that remains after all financial aid resources have been exhausted.
The Coe College Financial Aid Office manages the processing of this loan and the Department of Education's Direct Loan Servicing Center handles the servicing and repayment. Approval to borrow through the PLUS loan program is determined by a credit check. A parent who is denied the PLUS loan for credit reasons has the opportunity to work with the loan servicer to resolve the credit issue or secure a co-signer. In the event that the parent can't resolve the credit issue nor secure a co-signer, the student becomes eligible for increased unsubsidized Stafford Loan limits of up to $4,000 during their freshman and sophomore years and up to $5,000 during their junior and senior years.
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Student Alternative Loans
For your convenience, we are providing a list of alternative loans available from private lenders. The list represents private loan products that have been utilized by Coe students during the past three academic years. This list of loan products is not all-inclusive and does not imply endorsement by Coe College. We recommend that you use our guidelines for evaluating and comparing private alternative loan programs before you choose a lender.
Educational Loans Code of Conduct
Iowa Code Section 261E.2 and Sections 487(a)(25) and 487(e) of the Higher Education Act of 1965, as amended, require the development, administration, and enforcement of a code of conduct governing educational loan activities. Officers, employees, trustees and agents-including the alumni association, booster club and other organizations associated with Coe College agree to the provisions of this Code of Conduct.
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Discover Iowa Student Loan Sallie Mae |
US Bank Wells Fargo Bank |
Additional information about private alternative loans and a comprehensive list of private student loans can be found at www.finaid.org*. This site also has a loan calculator that can assist you in comparing the cost of your loan based on a variety of factors.
Coe College will certify a loan from whatever lender you determine best meets your needs. Please be aware that we are required by federal statute 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.
* FinAid! The SmartStudent Guide to Financial Aid is an independent source for financial aid information. The site is published by Mark Kantrowitz.
Lynda Barrow
(Political Science)
"One of the students responded without hesitation, "I’d push you!" She then turned bright red. Six months later, we jumped."
