In order to be considered for Institutionally administered undergraduate loan programs, a student must complete the Free Application for Federal Student Aid FAFSA. These loan programs are awarded by Creighton?s Financial Aid Office and administered by the Creighton Business Office. Students who are eligible will automatically be awarded these funds by the Financial Aid office and will be included on the award offer notification.
These undergraduate loans include the following:
A Federal Perkins loan is a 5% simple interest loan that does not accrue interest while the student is enrolled as at least a ½ time student. All paperwork is administered by the University and repayment and interest begins 9 months after graduation/separation. There are several deferment and cancellation provisions available which makes this a very attractive educational loan option. Loan amounts vary based upon available funds.
A Federal Nursing Loan is a 5% simple interest loan that does not accrue interest while the student is enrolled as at least a ½ student in a Nursing education program. All paperwork is administered by the University and repayment and interest begins 9 months after graduation/separation or no longer enrolled in a Nursing curriculum. Deferments and/or forbearances are available under specific criteria. Award amounts vary each year depending upon availability of funds. The Business Office will contact new borrowers with instructions on completing the required Master Promissory Note on-line.
All institutional loan programs are administered by Heartland ECSI. Students are required to complete promissory notes and exit counseling for the Perkins and Federal Nursing Loans through ECSI.