Loan Information

Loans are one way to pay for a Saint Joseph's College education. Your Award Letter itemizes the costs of attending SJC and any "credits" that will be applied to the student's account. This includes not only gift aid, but also self-help aid, which is aid that is earned through work-study allotments and loan eligibility.

Examples are the Federal Stafford Loan and the Perkins Loan. Credits are subtracted from the overall cost of attending SJC, and the amount left over is the student's balance, which must be paid at the start of each semester.

For those students who cease to be enrolled more than half time:

Follow the link below to complete Exit Counseling, which is required for all.

Section Links

Federal Parent Loan for Undergraduate Students (PLUS)

Before applying, make sure you know your FSA ID & password (which recently replaced your PIN) that you used to file your student's Free Application for Federal Student Aid (FAFSA). Just like on the FAFSA, the PIN serves as your electronic signature on your MPN. If you do not know your FSA ID & password, or need to set up an FSA ID & password, visit

Steps for Parent Borrowers to take for Federal Direct PLUS Loans

  1. The parent borrowing the PLUS loan must complete the application at . Login with your FSA ID & password, then click REQUEST DIRECT PLUS LOAN.
  2. If the parent has never borrowed a PLUS loan, they must complete a PLUS Master Promissory Note at . Click into COMPLETE MPN.

Federal Direct PLUS Loan

Direct PLUS Loan terms, which are subject to revision by federal regulation, include:

  • Interest Rates and Fees

Interest Rate:

6.84% (fixed for the life of the loan, effective 7/1/15

Origination Fees:


*The Federal Direct PLUS Loan has a 4.292% origination fee, which will be deducted from the gross amount of the loan borrowed.

  • The borrower has the option of beginning repayment on the PLUS loan either 60 days after the loan is fully disbursed or may request an "in-school deferment." In-school deferment allows the borrower to wait to begin repayment until six months after the dependent student, on whose behalf the parent borrowed, ceases to be enrolled on at least half-time basis. Generally, the Direct PLUS Loan has a 10-year repayment term.
  • Parents may apply for up to the full cost of education for the school year minus all other student aid. Parents are encouraged to apply for the amount needed for a full academic year at the time of application, rather than by semester. The amount of the loan is disbursed equally between the semesters and applied directly to the student's tuition account.

Additional information of the Federal Direct PLUS Loan is available from the Department of Education.

Federal Perkins Loan   

The Federal Perkins Loan is awarded to the student as part of his/her financial aid package. The application form is included in the packet, with instructions to complete and return the application to Student Financial Services. If you have misplaced the Perkins Loan Application previously provided to you, please use the link below to print the PDF version. Complete the form and return it to Student Financial Services.

Perkins Loan Application

Alternative Loan Information

Lending institutions offer alternative loans to assist students in bridging the gap between college costs and traditional financial aid funding sources. These loans are private supplemental loans and are not guaranteed by the federal government. Unlike federally guaranteed student loans, lending institutions that offer alternative student loans may impose certain requirements. In most cases, a student must have a good credit history, a low debt-to-income ratio and a co-signer may be required. Due to the credit requirements, not everyone is approved for an alternative loan.

Students are strongly encouraged to pursue all other types of aid, including federal loans, before applying for a private loan as grant money is free and federal loans have a lower, fixed interest rate. The maximum eligibility on an alternative loan is the total cost of attendance minus other aid received.

You have the right to select any lender of your choice, and we will process the application for you. We do not recommend specific lenders and have elected not to publish specific information on individual loans/lenders due to the fact that borrower benefits are subject to change without notice. Interest rates and loan terms vary greatly among lenders; you should look at all options when selecting a private loan. The best way to locate a lender is to do an internet search for "private student loans". Detailed information regarding a specific loan can be found on the lender's website or by contacting them directly. Due to legislative and economic changes in the student loan industry, we recommend that you contact a lender prior to submitting a loan application to determine if they are accepting applications from SJC students. There are certain lenders who have chosen to accept applications only for students attending specific institutions.

In addition to the alternative loan programs, Saint Joseph's College also works with the ISM Marketplace. The ISM Marketplace offers a comparison of several other lenders located throughout the nation. By submitting your information through the ISM Marketplace, you will be able to compare private loan terms and rates through this network of lenders.

The ISM Student Loan Marketplace is the only website that presents, side-by-side, the specific loan rates and terms you would see if you applied with each lender directly. You should then pick the private loan that is most appropriate for you and continue on to your chosen lender to complete the loan process. The ISM Marketplace will pull your credit report in order to instantly simulate the actual terms of loans available to you from local and national lenders - complete with APR, interest rate, total cost, monthly payment, borrower benefits, fees and repayment options. Your credit report will not be harmed by using the ISM Marketplace. Remember that only by completing the lender's application can you be sure to receive the product rate and terms you select in the ISM Marketplace.

ISM Student Loan Marketplace Logo

View ISM Marketplace Lenders' TILA Application Disclosures:


News More news

Explore the Core
  • Start Your Major Freshman Year

    Like Elementary Education major Brittany Cooper ’12, you start your major as soon as you walk in the door, so you will have four years of knowledge and experience in your field.You can even change your mind about your major and still graduate on time with lots of experience.

    Core and the major work in harmony to develop the cognitive skills requisite for success in a competitive, global society. Students better understand the forces that shape the future by exploring the past. They discuss contemporary events; analyze the impact of science on our understanding of humanity and the universe; and investigate diverse cultures and world civilizations. 

  • Mentorship

    Small colleges offer you personal attention; SJC professors, such as Communication Professors Fred and Sally Berger, do more for you—they serve as mentors. Studies show that having a mentor leads to success in your field. Alumni often tell us how their professors not only played a major role in their success, but also became lifelong friends.  If you are undecided about what to major in, we help you decide.

  • High Quality Academics

    In the Core Program, you will be inspired to debate, analyze, and solve problems. Discussion of culture and society, the modern world, and Christian Humanism are just a few highlights of the Program. New perspectives will be gained, your worldview will expand, and you will graduate from SJC as a well rounded, highly marketable person.

  • Leadership

    You get more deeply involved at SJC, so you get more meaningful experiences that prepare you for career and life. LaMichelle Sanders ’14, for example, has spent two summers helping Chinese study abroad students adapt to life in the U.S. and at SJC. If you want to start a club or activity that doesn’t exist, we encourage you to start one. At SJC, prepare yourself for what you want to do in life.

  • Real-life Skills

    Because of the skills you develop by having the Core Program interact with your major for four years in addition to internships, job shadowing, and service learning, you get hands-on experience in preparation for your career or graduate school. Students Hanna Kane ’14, Emily Baird ’15, and Alyssa Guarnaccia ’14 collect food in the SJC hoophouse to be distributed on campus. You will also get four years of analytical, writing, and speaking skills that will serve you well for the rest of your life.

  • Start Your Major Freshman Year

    Get a jump start on your career and have your resume ready to go at graduation.  

  • Mentorship

    Small colleges offer you personal attention; SJC professors do more for you—they serve as mentors.

  • High Quality Academics

    The Core Program is all about you and your role in the world.


  • Leadership

    You get more deeply involved at SJC, so you get more meaningful experiences that prepare you for career and life.

  • Real-life Skills

    Get real-life experience and become an excellent communicator.