Financing Your Antioch Education With Loans

For help organizing your finances, download our Budget Worksheet (PDF 138K).

Direct Loan Program Types:

Subsidized Federal Direct Loans are based on financial need. “Need” is determined by subtracting the Expected Family contribution (determined by federal formula based upon FAFSA information provided by the student) from AUNE Cost of attendance/budget. The federal government pays the interest for you while you are enrolled in school at least half-time; during the six-month grace period after you stop attending school at least half-time; and during periods of authorized deferment.
Unsubsidized Federal Direct Loans are not based on financial need and are available to students regardless of income. Because this loan is not subsidized by the government, the student is responsible for all interest that accrues during in-school, grace, and deferment periods. You may choose to make periodic interest payments to the lender or opt to have the accrued interest capitalized (added to) the principal loan amount. Eligibility is determined by subtracting all other aid from the Cost of Attendance/Budget up to the annual maximum.
Cost of Attendance/Budget is equal to the sum of tuition, fees, living allowance, and books for the period of enrollment during the academic year June 2010—May 2011. For 2010/2011, the living allowance is $1,813/month and the book allowance is $500/term.

Interest Rates:

New loans in 2010-'11 are at 6.8%.

Program Annual Maximums:

$10,250 is the maximum loan amount you are eligible to receive during any academic term for which you are enrolled.

Federal Direct Loan Eligibility Terms of Enrollment

Summer, Fall, Spring (3 terms)
max/term Sub	max/term Unsub	term total	annual total
$4,250	$6,000	$10,250	$30,750

Fall and Spring(2 terms)
max/term Sub	max/term Unsub	term total	annual total
$4,250	$6,000	$10,250	$20,500

Doctoral Students in Clinical Psychology have additional eligibility for unsubsidized loans ($12,500 in the first year and $16,667 in years 2-4).

Loan Fees: (0-4%) based on lender policy may apply, and will be deducted by lender from each disbursement.

Direct Loan Cumulative Maximum: $138,500 including undergraduate loans. For Doctoral Students in Clinical Psychology the maximum is $224,000, including undergraduate loans.

If your cost of education exceeds your maximum Direct Loan eligibility for the award year, you may apply for a Graduate PLUS Loan through the Direct Loan Program. The total aid amount from ALL types of aid may not exceed the Cost of Attendance/Budget.

Graduate PLUS Loan is an unsubsidized loan, limited to the cost of attendance minus aid received. Students apply for the PLUS loan (once the maximum Direct loan has been reached) through the Direct Loan Program, who in turn will notify Antioch of their eligibility. PLUS loans have a fixed interest rate of 7.9%.

Last Updated: 3/3/10