Loans can be a great option to assist with paying for college. Some things to consider when choosing a loan are:

• Who will be the borrower (student or parent)?
• Which loan offers the best interest rate?
• Are there any origination fees?

Federal Direct Loans 


To apply students must go to studentaid.gov and complete:

• The Free Application for Federal Student Aid (FAFSA).
• A Master Promissory Note.
• A Student Loan Entrance Counseling Session. 


Federal Direct Loans are provided through the federal government. Students are required to begin repaying these 6 months after the last day of attendance. (This is usually graduation day, unless the student takes a leave or is enrolled less than half-time.) 


The federal government offers two types of direct loans, subsidized and unsubsidized. 

• Subsidized loans are need-based and the federal government pays the interest on these loans while the student is enrolled in school at least half-time.
• Unsubsidized loans are not need-based and the student is responsible for the interest on these loans. 
The current interest rate for Federal Direct Loans is 6.39%, and there is an origination fee of 1.057%.

Federal Direct PLUS Loans for Parents (Parent PLUS Loans)

(Dependent Students Only)

To apply, students and parents must go to studentaid.gov, then:

• Students must complete the Free Application for Federal Student Aid (FAFSA).
• Parents must complete a Federal Parent Plus Loan application and a Master Promissory Note. 


Federal Parent Plus Loans are federal loans in which the parent is the borrower. Federal Parent Plus loans are credit-based loans, not need-based loans. The parent is responsible for the interest on these loans. 
The current interest rate for Federal Parent Plus Loans is 8.94% and there is an origination fee of 4.228%

Alternative or Private Loans 


These are credit-based loans available to both students and parents. Typically, students will need to have a co-signer to qualify for these loans. For more information, visit elmselect.com and search for Seton Hill University. Interest rates and fees vary per lender.

Semester Payment in Full

After receiving a billing statement from Seton Hill, students can make a one-time payment for the semester in full. Learn more here.

Tuition Payment Plan

Seton Hill University offers a tuition payment plan in which monthly payments can be made during each semester. This is an interest-free payment plan and not a loan. To learn more visit mycollegepaymentplan.com/setonhill.