Stafford Loans
Denver Seminary participates in the Federal Stafford Loan program. Low-interest loan funds are provided by banks which are subsidized by the Federal Government. Students apply through the Denver Seminary Financial Aid Office. Stafford Loans come in two forms: subsidized and unsubsidized. Subsidized loans are interest free to the student while in school (the interest is paid by the Federal Government), and unsubsidized loans incur a low rate of interest that the student may pay while in school or have added to the amount of principal owed. Payments are deferred for either type of loan until six (6) months after the student graduates or drops below half-time (5 credits/semester).
Important Loan Information
The information provided on this page is designed to help you understand and complete the forms necessary to secure funding from the Subsidized and Unsubsidized Federal Stafford Loan program. The most accurate and detailed information regarding the different lenders is going to be on their individual website. The lenders chosen to be on this list responded to the request for information sent out by Denver Seminary. The Financial Aid Office reviewed the information and decided that these lenders are giving the best benefits to the students.
Entrance Counseling
First time Stafford Loan Borrowers at Denver Seminary are required to complete Entrance Counseling before your loan can be certified. If there is any chance that you will take a Grad PLUS loan you should complete Stafford Loan/Grad PLUS Entrance Counseling instead. Follow this link to complete the requirement: http://mappingyourfuture.org/oslc
Frequently Used Lenders List
You will need to choose and authorize a lender to provide the funds for the Stafford loan. While you can choose any lender that participates in the Stafford Loan program with Denver Seminary, the Financial Aid Office has compiled a list of quality lenders that are frequently used by our students.
View our Frequently Used Lenders List
If you choose a lender that is not on this list, please contact the Financial Aid Office to provide the necessary processing information ( or 303-762-6903).
If you are a continuing student and have already completed an MPN you will not be required to repeat this step. However if you have changed lenders, or your lender is no longer participating in the Stafford Loan program, you will need to complete a new MPN. This MPN is good for up to 10 years. Your loan is a long-term commitment for both you and your lender. Please take the time to carefully make your lender selection.
Origination Fees
An Origination Fee (average of 1 percent) will most likely be deducted from the gross loan amount. This means that the typical net amount that is actually disbursed to the school is 99% of what was accepted on the Award Letter.