Student Loans

Federal Direct Loans

The Federal Direct Stafford Loan Programs offer long-term, low interest education loans to students. In order to determine your eligibility and qualify, you must complete the Free Application for Federal Student Aid (FAFSA: www.fafsa.gov) and be enrolled at least half-time  (4.5 hours for Divinity) each semester. Information regarding eligible amounts will appear on your financial aid award letter.

Repayment for Federal Direct Stafford Loans begins six months after you graduate, withdraw, or drop below half-time.

First-time Federal Direct Stafford Loan recipients at Gardner-Webb must complete “Loan Entrance Counseling” before funds can be disbursed. Recipients must also complete a Federal Direct Loan Master Promissory Note (MPN). 

For more information, please visit http://www.studenaid.gov

Federal Direct Subsidized Stafford Loan

The Federal Direct Subsidized Stafford Loan is based on financial need as well as annual and aggregate (overall) loan limits for undergraduate students. Funds from this loan are disbursed each term according to your award notification and promissory note disclosures. Interest on this loan does not accrue during eligible periods of enrollment and certain grace periods. Yearly loan amounts range from $3500 for first year students, $4500 for second year students, and $5500 for third and fourth year students.

Federal Direct Unsubsidized Stafford Loan

The Federal Direct Unsubsidized Stafford Loan is based on the cost of education as well as annual and aggregate (overall) loan limits. Funds from this loan are disbursed each term according to your award notification and promissory note disclosures. Interest on this loan begins to accrue as soon as you receive it. It is possible to receive both direct subsidized and direct unsubsidized loans in the same period.

Federal Direct Parent Loan for Undergraduate Students (PLUS)

The Federal Direct Parent Loan for Undergraduate Students (PLUS) is available to parents of dependent undergraduate students. Parents may borrow up to the cost of attendance minus all other financial aid. The repayment period begins within one or two months after the loan is fully disbursed. If this loan is denied for credit reasons the student may be eligible for additional unsubsidized loan funds. This loan may be eligible for deferment as long as the student is enrolled at least half-time.

Federal Direct Loan for Graduate Students (PLUS)

The Federal Direct Graduate PLUS Loan is available to graduate students who apply and are accepted if they need additional funding above what the Federal Stafford Loan can offer in an academic year. Students may borrow up to the cost of attendance minus other financial aid. This loan may be eligible for deferment as long as the student is enrolled at least half-time. You can apply online at www.studentaid.gov.

Alternative Loans

Alternative Loans are an option when additional funding is needed to meet your educational expenses. Gardner-Webb University does not have a Preferred Lender List; therefore, we do not promote or endorse any specific lender. Students are free to choose any lender they wish. We may ask for additional information regarding your lender before completing certification of your Alternative Loan.

FASTChoice is a tool which provides the lenders that students historically have used to fund their Alternative Loan needs at Gardner-Webb. It allows students and parents the ability to search, compare, and apply for alternative loans.

Forgivable Education Loan for Service

The Forgivable Education Loan for Service (FELS) was established by the North Carolina General Assembly in 2011 and the first loans will became available for the 2012-13 academic year. The loan provides financial assistance to qualified students who are committed to working in North Carolina in fields designated as critical employment shortage areas.