Student/Parent Loans

Student loans are the primary source of student aid at UNA.  Loans must be repaid, although principal and/or interest payments may be deferred while the student is enrolled at least half-time.

The University of North Alabama participates in the Federal Family Educational Loan and Federal Perkins Loan programs.  General information about these programs is included in the Student Guide, available in paper-print upon request to UNA Student Financial Services or on-line at the US Department of Education's web site.  Note:  UNA is not a direct lending school.

Application.  To be considered for loans at UNA, file the FAFSA first.

Loan Amounts.  All FAFSA applicants are automatically considered for both Stafford and Perkins loans and are awarded the maximum amount within annual/lifetime limits for Stafford and according to UNA standards for Perkins.  

Lender.  At UNA, student and parent borrowers may choose their own lenders for Stafford and PLUS loans.   Information on our most frequently used lending institutions is available. Perkins funds are loaned by UNA directly to the student, and repayments come directly to UNA.

Parent Loans.  PLUS loans enable parents with good credit histories to borrow to pay the education expense of each child who is a dependent undergraduate student.  At UNA, students must complete the FAFSA before parents request a PLUS loan.  For more information on PLUS loans, or to apply for a PLUS loan, click here. ck here.

Loan Funds. Stafford and PLUS loan funds are delivered to UNA in the form of a electronic funds transfer (EFT).  Loan funds are applied to the student's account.  If  total credits exceed the total charges, the UNA Business Office issues a residual check to the student.  The Business Office issues residual checks on a regular basis beginning the first day of each semester.

*Perkins borrowers who have graduated from UNA and are now engaging in teaching, public service, service in Peace Corps or Action, or service in the military may qualify for postponement or cancellation.  For more information on Federal Perkins Loan cancellation click here.

New Stafford loan borrowers (on/after 10-1-98) who have taught in certain eligible elementary and secondary schools that serve low-income families may qualify for "loan forgiveness."   To finds out whether your school is considered a low-income school, visit the Department of Education web site   or call 1-800-4-FED-AID.

Click here for more information about Stafford Loans and signing a Master Promissory Note