Loans
We encourage students and families to exhaust all grant, scholarship, and work-study options before borrowing. If loans are needed, borrow only what's necessary to cover your expenses. All loans must be repaid with interest.
For questions about any of these options, contact the Financial Aid Office at 757.455.3345 or finaid@batten.edu.
Federal Student Loans
Federal Direct Subsidized Loan
A need-based federal student loan with a fixed interest rate. The government pays the interest while you're enrolled at least half-time, so nothing accrues until repayment begins — six months after you graduate or drop below half-time.
Federal Direct Unsubsidized Loan
A federal student loan with a fixed interest rate that is not based on financial need. Interest begins accruing while you're enrolled — at repayment, the accrued interest is added to your principal balance. Repayment begins six months after you graduate or drop below half-time. There is no penalty for early repayment.
Parent & Alternative Loans
Consider these options only after the student has borrowed the maximum through Federal Direct Loans.
Federal Direct PLUS Loan
A federal loan available to credit-worthy parents of dependent undergraduate students. The PLUS Loan has a fixed interest rate, and payment can be deferred until after the student graduates. Parents can apply at studentaid.gov.
Alternative (Private) Loan
A loan from a private lender used to supplement financial aid. This should be considered a last resort. A list of lenders offering educational loans is available at elmselect.com. Unlike federal loans, not all private lenders offer fixed interest rates — compare options carefully before applying. A credit-worthy co-signer may be required.
