BJU recommends federal loans first and private loans only to cover the difference. If you have any questions, email the Financial Aid Office.
Federal student loans generally have much lower interest rates than other kinds of loans and can save you money in the long run. You must complete a FAFSA to apply.
Stafford Loans (for students)
Federal Stafford loans are for undergraduate and graduate students with qualifying financial need.
- Subsidized — The government pays the interest for you during the time you are in school.
- Unsubsidized — You pay the interest.
Limits on how much students can borrow per loan are based on dependency status and academic classification.
Plus Loans (for parents)
Parents may borrow federal loans for their student up to the Cost of Attendance (COA) minus any aid already received.
Visit studentloans.gov for more information.
Non-government loans tend to charge higher interest rates that vary from lender to lender.
| Source | Eligibility | Amount | How to Apply |
|---|---|---|---|
| Pickett and Hatcher Educational Fund | Available to students from all states enrolled in a four-year, liberal arts program (except premed, prelaw, and ministerial) | $10,000 per year | Write to: Pickett and Hatcher Educational Fund, P.O. 8169, Columbus, Georgia 31908-8169 or call 800.864.8308 (Applications available January 1 until depleted) www.phef.org |
Preferred Private Loan Lenders
When other options are exhausted, BJU loans are available on a limited basis.