Loans

  • Federal Direct Loan Program

    This program provides federal loans for students through the FAFSA. As a regionally accredited institution, Appalachian Bible College participates in the Federal Direct Loan program, which includes Subsidized, Unsubsidized, and PLUS Loans. More info at: studentaid.gov/understand-aid/types/loans.

    • Federal Direct Subsidized Loan:
      • Required repayment and interest accrual begins six (6) months after you cease to be a student or fall below half-time (6.0 credit hours). The interest rate is fixed. Depending on your need (determined by the Dept. of Education through the FAFSA), you may borrow up to:
        • $3,500, if you are a first year undergraduate
        • $4,500, if you have successfully completed the first year of undergraduate work (2nd year)
        • $5,500, if you have successfully completed the first and second year of undergraduate work (3rd, 4th, and if applicable, 5th year). The maximum Subsidized Loan debt you can have outstanding as a dependent undergraduate is $23,000.
    • Federal Direct Unsubsidized Loan:
      • Required repayment begins six (6) months after you cease to be a student or fall below half-time (6.0 credit hours); however, the interest is either paid by the student during the period of study or added to the loan principal to be paid by the student during the repayment period. The interest rate is fixed. Combined with the subsidized Federal Direct Subsidized Loan described above and depending on your need, you may borrow combined subsidized and unsubsidized funds as a dependent, up to:
        • $5,500, if you are a first year undergraduate
        • $6,500, if you have successfully completed the first year of undergraduate work (2nd year)
        • $7,500, if you have successfully completed the first and second year of undergraduate work (3rd, 4th, and if applicable, 5th year).
      • Different limits apply to dependent and independent students.
    • Federal Direct PLUS Loan:
      • This loan for parents of a dependent student begins repayment once the loan is fully disbursed to the student’s account. However, parents may request a deferment while their student is enrolled at least half- time and for an additional six months after their student graduates, leaves school, or drops below half-time enrollment. The parent may borrow an amount up to the cost of attendance less any financial aid the student receives.
    Request Federal Loan
  • Alternative Student Loans

    • There are many places that students can get private loans to help fund their education.
    • It is up to the students and/or parents to determine if this is an option you wish to pursue.
    • View Private Loan Comparison