There are a variety of loan programs available to students and families to help fund education costs at Union College.
Federal Stafford Subsidized and Unsubsidized Direct Loan Program
The Federal Direct Loan Program allows eligible students to borrow up to $23,000 during their undergraduate education.
Direct Parent Loan for Undergraduate Students (PLUS)
Through this program, parents may borrow an annual amount up to the cost of attendance less financial aid. Repayment begins within 60 days of the loan's disbursement.
The federal Perkins Loan provides loans up to $4,000 per year. Repayment of the loan at 5 percent interest begins nine months after the borrower leaves Union.
Union College Loan
A need-based institutional loan with a fixed interest rate of 8%.
These loans are given to incoming freshman students who demonstrate financial need and who wish to engage in public service work upon graduation.
There are a variety of private loans for education that are available to Union College students. Students and their families are always best-advised to pursue federal education loans first, since they carry lower, and often tax-deductible, interest.