Employment
- Federal Work-Study
- State Work-Study
- Institutional Work-Study
Loans
 Confused about the different types of loan discounts? Do you need to compare different lenders benefits? Here is a useful calculator provided by: http://www.finaid.org/
Federal Work-Study
- Undergraduate or graduate students are eligible
- Employment may be on or off campus
- Eligible employers
- School
- Federal, state, or local public agency
- Private non-profit organization
- For-profit organization
- Schools must use portion of FWS funds for community service activities
Federal Perkins Loan
- Eligible students
- Undergraduate or graduate students
- Priority to exceptional need
- Maximum annual loan
- $4,000 undergraduate students
- $6,000 graduate/professional degree students
- Interest rate: 5%
- Nine-month grace period
- Repayment period may be up to 10 years
- Minimum monthly payment: $40
- Deferment and cancellation provisions
- School contact (after enrollment): Shirley Robertson, 1-434-223-6308, srobertson@hsc.edu
- Servicer during repayment: ACS Education Services (formerly AFSA Data
Corp.), 1-800-826-4470, www.acs-education.com
- Students who are borrowing Federal Perkins Loan for the first-time are required to complete entrance counseling. This requirement can be accomplished at the following website: http://mappingyourfuture.org/pe/.
Federal Stafford Loan (Subsidized and Unsubsidized)
 Only follow this link if you received an award letter with instructions directing you to apply for this loan. We have temporarily disabled this federal loan link as we are currently reviewing the processes, borrower benefits, and customer service record of those lenders we will choose to partner with us in the Federal Family Education Loan Program for the 2010-2011 academic year. It is our expectation to restore this link on or around May 15, 2010. Thank you for your understanding and continued interest in Hampden-Sydney College.
- Students who are borrowing Federal Stafford Student Loan for the first-time are required to complete entrance counseling.
- Subsidized Stafford – Must demonstrate "need"
- Fixed rate of interest, July 1, 2006 through June 30, 2008 - 6.80%
- Fixed rate of interest July 1, 2008 through June 30, 2009 - 6.00%
- Fixed rate of interest July 1, 2009 through June 30, 2010 - 5.60%
- Fixed rate of interest July 1, 2010 through June 30, 2011 - 4.50%
- Fixed rate of interest July 1, 2011 through June 30, 2012 - 3.40%
- Fixed rate of interest will revert back to 6.8% on or after July 1, 2012
- Unsubsidized Stafford – Need is not a consideration
- Fixed rate of interest of 6.8% beginning 7/1/2006
- Base annual limits effective 5/8/2008 (combined subsidized and unsubsidized)
- $5,500 for 1st year undergraduates
- $6,500 for 2nd year undergraduates
- $7,500 for each remaining undergraduate year
- $10,500 for each year of graduate/professional study
- Six-month grace period
- Deferment and cancellations provisions available
- Repayment Options
Additional Eligibility for Unsubsidized Federal Stafford for:
- independent undergraduates,
- graduate students,
- and dependent students whose parents are unable to borrow under the PLUS Program:
- $4,000 per year for first & second years of undergraduate study
- $5,000 per year for remaining years of undergraduate study
- $10,000 per year for graduate/professional
Costs of Borrowing Federal Loans
- Loan fees based on the principal amount of each Federal Stafford (Subsidized and Unsubsidized) and Federal PLUS loan:
- FFEL Program: 1% insurance premium and up to 3% origination fee
- Direct Loan Program: Up to 4% loan fee
Federal PLUS
Only follow this link if you received an award letter with instructions directing you to apply for this loan. We have temporarily disabled this federal loan link as we are currently reviewing the processes, borrower benefits, and customer service record of those lenders we will choose to partner with us in the Federal Family Education Loan Program for the 2010-2011 academic year. It is our expectation to restore this link on or around May 15, 2010. Thank you for your understanding and continued interest in Hampden-Sydney College.
- Borrowers are parents of dependent undergraduate students
- Approval is based on credit-worthiness
- Annual loan limit: cost of attendance minus other aid
- Repayment begins 60 days after loan is fully disbursed
- Fixed rate of interest, or 8.5%, beginning 7/1/2006
Loan fees based on the principal amount of loan:
- FFEL Program: 1% insurance premium and up to 3% origination fee
- Direct Loan Program: Up to 4% loan fee
Only follow this link if you talked with one of our financial aid counselors and they directed you to apply for this loan.
Private/Alternative Loan
Alternative Loans are offered by private lending institutions and are not guaranteed by the federal government. These funds are available to students with credit-worthy co-signers who may not be eligible for federal financial aid, who may need to bridge the gap between the cost of education and other financial aid, or whose parent may choose not to borrow the PLUS Loan. The lender will interpret credit history and other factors to determine eligibility.
We have temporarily disabled this link as we are currently reviewing the processes, borrower benefits, and customer service record of those lenders we will choose to partner with us to provide private education loans for the 2010-2011 academic year. It is our expectation to restore this link on or around May 15, 2010. Thank you for your understanding and continued interest in Hampden-Sydney College.
Institutional Loan
- Booker-Stebbins Loan
- Awarded up to $4000, certain restrictions apply
- 5% interest rate
- Interest deferred during in-school period
- 5 year repayment
- $100 per month minimum
- Repayment begins 3 months following graduation/separation
- Exit counseling required for graduates and transfers
- School contact (after enrollment): Shirley Robertson, 1-434-223-6308, srobertson@hsc.edu
- Servicer during repayment: Campus Partners
(formerly AMS Servicing Group)
- 1-800-334-8609, www.mycampusloan.com
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