Student Loan Information

Bellarmine University participates in several loan programs to assist families in meeting their educational costs. The William D. Ford Direct Loan program includes the subsidized and unsubsidized Direct Loans made to undergraduate students, unsubsidized Direct Loans made to graduate/professional students, PLUS loans made to parents and to graduate/professional students, and consolidation loans made to borrowers. Student and parent borrowers will receive funding for their federal Direct and PLUS loans directly from the U.S. Department of Education. Direct Loans are loans made with federal capital and owned by the federal government. Loan repayments are made to the government, and Direct Loans are never sold. Alternative student loans (also referred to as a private student loan) offers additional funding for students who need it. Alternative loans are not federal student loans, but one through a private bank or lending institution. Generally, alternative loans may have interest rates, repayment terms and deferment options that are less favorable than those of the Direct, Parent and Grad PLUS Loan programs. 20.2% of Bellarmine students use loans to help pay for their educational expenses. The university's current Cohort Default Rate is 0.9%, compared to the national average of 2.3%.

Students and parents receiving Title IV education loans will have their information submitted to the National Student Loan Data System (NSLDS). This information will be accessible by the student and institutions determined to be authorized users of the data system.

The Office of Financial Aid administers the loans; determines your loan eligibility; approves the loan; confirms the promissory note, when necessary; receives the funds from the federal government; and credits the loan amount directly to your university student account.