Loan Options

Unlike grants and scholarships, loans must be repaid. NMC provides a wide array of loan options for students to meet their direct costs (tuition, fees and textbooks) and indirect costs (living expenses). Students are encouraged to apply for all Federal student aid including grants that they may be eligible for (see Financial Aid Programs Available at Nebraska Methodist College) listed in Downloads on the sidebar.

federal direct Stafford Loans

NMC participates in the William D Ford Federal Direct Loan (Direct Loan) Program.  For the Direct Loans, eligible students borrow directly from the U.S. Department of Education.

Stafford Loans are low interest rate Federal loans that do not require a credit check. These are loans that the student takes out and the student pays back. Students must complete the FAFSA and receive a NMC Award letter prior to applying for this loan.

First-time-students will need to complete both the Federal Direct Stafford Promissory Note and the Stafford Confirmation (received with their Award Letter from NMC).  Thereafter, only the Stafford Confirmation must be completed.  The Stafford Confirmation gives you the opportunity to tell us how much of the Stafford Loan that shows on your Award Letter than you want.

ALL FORMS ARE RETURNED TO THE NMC FINANCIAL AID OFFICE.  In the case of the on-line master promissory note, we will receive notifications that you have completed the promissory note.

Parent Loans

NMC participates in the William D Ford Federal Direct Loan (Direct Loan) Program.  For the Direct Loans, eligible borrowers borrow directly from the U.S. Department of Education.

Parent Loans for Undergraduate Student (PLUS Loans) are low interest rate Federal loans. These are loans that the parent takes out and the parent pays back. They must complete a credit check. Student’s whose parents fail to qualify for a PLUS loan may be eligible for additional Unsubsidized Stafford Loan. Students and parents in this situation should call the Financial Aid Office for more information. NMC does require students to complete the FAFSA for a PLUS Loan. Parents must complete the Federal Direct Master PLUS Promissory Note when applying for this loan for the first time at NMC.

First-time-parents will need to complete both the Federal Direct PLUS Promissory Note and the PLUS Confirmation (received with their Award Letter from NMC).  Thereafter, only the PLUS Confirmation must be completed.  The PLUS Confirmation gives you the opportunity to tell us how much of the PLUS Loan that shows on your Award Letter than you want.

ALL FORMS ARE RETURNED TO THE NMC FINANCIAL AID OFFICE.  In the case of the on-line master promissory note, we will receive notifications that the Master Promissary Note is on file.

 

Private (Alternative Loans)

Private (Alternative Loans) are loans from private lenders. Students are encouraged to apply for all Federal grants and loans that they may be eligible for before considering an Alternative Loan.  See Financial Aid Programs Available at Nebraska Methodist College listed in Downloads on the sidebar. Private (Alternative Loans)generally have a higher interest rate, require credit checks and may require co-signors. Students are limited in the amount they may receive as determined by the NMC cost of education budget less their other aid.

Students may :

Apply online from our Suggested Lender List.

We will promptly certify a loan once a student has enrolled in courses and has met all eligibility criteria. Students will be notified of loan certification by mail or college e-mail if a current student.

Additional loans available at NMC:

Additional loans available at NMC include the Nursing Loan and the Nurse Faculty Loan. Nursing Loans are available to needy Nursing students only and are limited in funding. Perkins Loans are available for undergraduate needy non-nursing students only and are limited in funding.These loans may be included with Federal Stafford Loans in a consolidation loan upon graduation.

The Nurse Faculty Loan is available to Masters in Nursing- Nurse Educator Track students who intend to work as a nurse faculty in a college of nursing upon graduation. This loan may be cancelled after graduation by working as a nurse faculty.

For more information on these loans, call the Financial Aid Office.

Preamble to Nebraska Methodist College's Suggested alternative loan Lender List

Current Students - Nebraska Methodist College