Federal educational loans play an important role in each student's financial aid package. As Bank Street College scholarship funds are first applied to tuition, students should expect to provide additional funds for tuition / fee balances and living expenses, usually by borrowing funds through the William D. Ford Federal Direct Loan Program. The Office of Financial Aid reviews each student's eligibility for the William D. Ford Federal Direct Loan Program, which consists of Unsubsidized Loan.
Students may borrow funds to offset the total cost of their education, which includes tuition, books, fees and living expenses.
Students must be registered for a half-time minimum of 5 credits (or the equivalent) during the Fall or Spring semester to be eligible to receive a Direct Loan for that semester. Students enrolling in either the Summer 1 or Summer 2 term must be registered for a half time minimum of 2 credits to be eligible to receive a Direct Loan. Eligibility for any type of financial aid will only cover those credits / courses that are part of the degree requirements.
As with all financial aid programs, students requesting loans must be in good academic standing and must be making satisfactory progress toward their degree. As with other financial aid, students must complete and file the Free Application for Federal Student Aid (FAFSA). Students may apply for a Direct Loan throughout the year; the April 15 deadline does not apply to the Federal Direct Loan Program.