Home » Attend NU » Financial Aid

    Loans and Easiapp

    Future Students tour the Newman University campus

    Unlike grants and scholarships, a loan is borrowed money that needs to be repaid. There are federal loans and private or alternative loans.

    • Federal loans are partially funded by the government and funding is guaranteed.
    • Alternative loans are funded solely by the lender and funding is not guaranteed, but rather based on the borrower’s credit.

    Federal Loans

    Undergraduate and Graduate/Professional student

    Federal Subsidized Stafford Loan

    This loan is based on financial need. The Financial Aid Office will determine your eligibility. The government pays the interest on this loan as long as the student is enrolled at least part-time. Interest does not start to accrue until after a six-month grace period. For specific loan information visit the Federal Financial Aid section.

    Federal Unsubsidized Stafford Loan

    This loan is not based on financial need. The Financial Aid office will determine your eligibility. The borrower is responsible for the interest. A student may opt to pay the interest while going to school or defer the interest which would cause the interest to accrue. There is a six-month grace period where the principal does not need to be repaid, but the interest is still accruing. For specific loan information visit the Federal Financial Aid section.

    Apply for Federal Stafford Loan

    1. Complete Free Application for Federal Student Aid (FAFSA)
    2. Sign an award letter. A copy of the award letter can be printed off from JetStream
    3. Complete Stafford Entrance Counseling
    4. Complete MPN

    Graduate/Professional student

    Graduate PLUS loan

    This loan is based on credit. The borrower is responsible for the interest. Repayment would start 30–60 days after the last disbursement. However, deferments may be granted by contacting the lender. For specific loan information visit the Federal Financial Aid section.

    1. Complete Free Application for Federal Student Aid
    2. Stafford and Grad PLUS Entrance Interview
      • This link combines the Stafford Loan and Graduate Plus Loan Entrance Interview Counseling. Therefore you do not need to complete the Stafford Loan Entrance Interview Counseling as mentioned above.
    3. Complete MPN

    Parents

    Federal Parent PLUS

    This loan is based on credit. The borrower is responsible for the interest. Repayment would start 30–60 days after the last disbursement. For specific loan information visit the Federal Financial Aid section.

    1. Complete Parent Loan Request Form. Print form and send to Newman University, Financial Aid Office, 3100 McCormick, Wichita, KS 68213. 

      *For returning students who are taking out the Parent PLUS Loan, it is a requirement that you complete the Parent PLUS Loan Request Form.  After the first year, it is the student's responsibility to obtain the Parent PLUS Request Form. 

    2. Complete MPN and Parent PLUS Application (application also on www.studentloans.gov under REQUEST DIRECT PLUS LOAN; Available after July 1st)

    Code of Conduct

    • Students and parents have the right and ability to select an alternative loan lender of their choice.
    • Newman University does not accept anything of value from any lender in exchange for preferential treatment.
    • Financial aid employees at Newman University will not accept anything of more than nominal value from any lender. Employees will not accept gifts of substantial value or trips of any kind.
    • Newman University employees will not receive compensation or anything of value for serving on a lender’s advisory board.
    • Lender employees will not be permitted to work in or provide staffing in the financial aid office at Newman University. In addition these employees must clearly identify themselves as lender employees when meeting with students or parents.

    Newman University fully complies with the Kansas Attorney General's suggested code of conduct for the State of Kansas.

    Apply for Alternative Loan

    For more information regarding alternative loans and/or a list of participating lenders go to www.elmselect.com

    Federal Stafford Loan Exit Counseling

    All students who received a Federal Stafford Loan and are no longer enrolled at Newman University or enrolled less than part-time must complete exit counseling.  This may be completed at http://www.nslds.ed.gov/nslds_SA/.

    Resources

    Repayment Chart

    Loan FAQ