Federal Stafford Loans
All students who file a FAFSA will be considered for a Stafford Loan. Depending upon a student’s demonstrated financial need, the Stafford Loan may be subsidized (government pays the interest while the student is enrolled at least half-time) or unsubsidized (interest begins to accrue on receipt of the loan). Interest rates are fixed at 4.29% for both subsidized loans and unsubsidized loans. The annual amounts are $5,500 for freshmen, $6,500 for sophomores, and $7,500 for juniors and seniors. Repayment begins six months after the student ceases to be enrolled at least half-time. Independent students can borrow the same loan limits plus an additional $4,000 for freshmen and sophomores and $5,000 for juniors and seniors.
Parents may borrow up to the total cost of attendance per year for each of their dependent undergraduate students. Past credit history is used to determine eligibility. Repayment begins within sixty days after the final loan disbursements; there is no grace period for this loan.The interest rate is 6.84%. Contact the Financial Aid Office for more details. HLGU requires the FAFSA be submitted prior to processing a PLUS loan.
Alternative (Private) Education Loans
Alternative loans are funded by banks, credit unions and other private lending institutions. Students who need additional funds to pay educational costs, and who have exhausted their federal Direct Loan eligibility and other funding resources, may consider borrowing an alternative (private) education loan. This option should be carefully considered. You are not required to select a lender from the link below. You are free to choose any lender and loan product you feel best suits your needs.
To view a list of lenders we selected for comparison click here.
NSLDS Loan Information
All borrowers who participate in Title IV, HEA loan programs will have information submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.
Additional Financial Aid Documents
... How To Get Your Loan
The Hannibal-LaGrange University Office of Financial Aid requires certain documentation that you must submit in order to finalize your financial aid. The forms required for each financial aid award shown on your award letter are listed below. These forms must be completed before the financial aid office can process your awards. Below you will find those forms. Please feel free to contact the office if you have trouble downloading these forms or if you have any questions.
In order for the financial aid office to speak with anyone other than the student this form must be submitted.
If your application was selected for review in a process called "Verification" please read this description:
In this process, we will be comparing information from your application with copies of you and/or your parent(s)’ 2011 Federal Tax Transcripts, or with W-2 forms or other financial documents. If there are differences between your application information and your financial documents, we will make corrections electronically.
Requested tax documents will be communicated through a "Request for Information" letter. If Tax Transcripts are requested, please order online at www.irs.gov.
To process loans
- Complete Student Loan Data Sheet
- Complete Federal Stafford Loan Entrance Loan Counseling
- Master Promissory Note
- Complete Parent Plus Loan Data Sheet
- Request Direct Parent PLUS Loan
- Complete Federal PLUS Loan Master Promissory Note
Gamm Nursing Loan
This fund provides loans to HLGU nursing students. Loans are not to exceed the cost of tuition, books, and room and board. Interest at a rate of 7% accrues on the unpaid balance after termination of studies at HLG. Apply through the HLGU Financial Aid Office.
(Please contact the Financial Aid Office to inquire about this loan prior to printing off application).
Contact InformationOffice of Financial Aid
Business HoursMonday - Thursday
8:00 am - 5:00 pm
8:00 am - 4:00 pm