Northern Wyoming Community College District

Interest Loans

• Federal Stafford Student Loan
• Federal Parent Loans for Undergraduate Students (PLUS)

Interest Free Loans*

• Interest Free Loans

College Work Study

• College Work-Study

• Loan Repayment Estimates (.pdf)
  
  
  
  Interest Loans
  

Federal Stafford Student Loan:
Stafford Student Loans are long-term loans that must be repaid.

• Interest rate is variable with a maximum of 8.75 %.

• 10 years is the maximum repayment period.

• Loan limits may be reached through a combination of Subsidized and Unsubsidized Federal Stafford loans.

• Interest on the subsidized portion of the Stafford loan is paid by the government during enrollment and deferment periods.

• The student is responsible for the interest on the unsubsidized loan, which may be capitalized.

• The school Financial Aid Office will notify the students of their specific subsidized and unsubsidized program eligibilities.

• Repayment of principal and interest on either Stafford loan begins no later than six months after student ceases to be enrolled at least half-time.

Stafford Loan Limits:

Class-Level	Dependent Base Amount	Independent Base Amount	Additional Unsubsidized Loan
			Dependent	Independent
Freshman	$3500	$7500	$2000	$6000
Sophomore	$4500	$8500	$2000	$6000
Junior/Senior	$5500	$10500	$2000	$7000
Graduate	$0	$8500		$12000

For parents of dependent undergraduate students who do not have adverse credit history.

These are long-term loans that must be repaid:

• Interest rate is variable with 9.25% the maximum.

• 10 year maximum repayment period.

• Interest accrual and repayment begin within 60 days of loan disbursement.

• Loan limits are cost of attendance minus other financial aid received by the student.

The College Work-Study program is available to students who are enrolled and in good standing at NWCCD campuses. Part-time students and full-time students may apply. Students must submit their Student Aid Reports and indicate on the Financial Aid Questionaire their preference for College Work-Study.

• Students who are offered CWS will be required to complete an application for employment after they arrive on campus.

• Students will interview for the positions with the work-study supervisor in the department in which they want to work.

• Not all applicants will be selected for CWS even though they are eligible.

• The Financial Aid Office will assist all eligible students who request CWS with finding jobs and will assist those students who are not selected for CWS with other types of financial aid.

• The offer under CWS is not a guaranteed award. It is a reasonable expectation as to the amount a student may earn.