Welcome to Caldwell College, a Catholic, co-educational, four-year liberal arts institution in Caldwell, New Jersey

Financial Aid

ACADEMICS
ADMISSIONS
TRANSFER STUDENTS
FINANCIAL AID
ATHLETICS
PARENT INFORMATION
COUNSELING CENTER
IN THE TRADITION
OF SAINT DOMINIC

A Stafford Loan is a low-interest loan available to students enrolled in a minimum of 6 credits per semester. These loans are made and guaranteed by the federal government. Depending on the student's need, as calculated by the U.S. Department of Education, these loans are either made on a subsidized basis (the federal government pays the interest during the enrollment period) or on an unsubsidized basis (the student pays the interest).

To determine your loan eligibility, we will assume the same enrollment status (full-time, 3/4 time, 1/2 time) for both the fall and spring semesters based upon the anticipated enrollment information you provided on your FAFSA.

Annual and Aggregate Loan Limits
Annual Loan Limits

Undergraduate	Dependent Students*
	Subsidized	Unsubsidized	Total
Freshmen (0 - 29 credits)	$3,500	$2,000	$5,500
Sophomore (30 - 59 credits)	$4,500	$2,000	$6,500
Junior/Senior (60 and above)	$5,500	$2,000	$7,500

	Independent Students
	Subsidized	Unsubsidized	Total
Freshmen (0 - 29 credits)	$3,500	$6,000	$9,500
Sophomore (30 - 59 credits)	$4,500	$6,000	$10,500
Junior/Senior (60 and above)	$5,500	$7,000	$12,500

Graduate Certificate	$5,500	$7,000	$12,500
Graduate/Professional	$8,500	$12,000	$20,500

*NOTE: For dependent students whose parents cannot borrow under PLUS program, the amount a student can borrow under the Stafford program is the same as an independent student.

Aggregate Loan Limits

Dependent Undergraduate: $31,000 (no more than $23,000 in subsidized)
Independent Undergraduate: $57,500 (no more than $23,000 in subsidized)
Graduate/Professional: $138,000 (no more than $46,000 in subsidized)

Rights and Responsibilities of a Student Loan Borrower

In accordance with federal regulations, first-time Stafford loan borrowers must complete entrance counseling on the web at https://studentloans.gov/myDirectLoan/index.action. No loans can be credited to a student's account until entrance counseling is complete.

Students who are recipients of a federal Stafford loan who drop below six (6) credits or graduate must complete an exit counseling session at https://studentloans.gov/myDirectLoan/index.action.

Federal Stafford Loan Master Promissory Note (MPN)

The Federal Stafford Loan Master Promissory Note (MPN) is a promissory note under which you may receive multiple subsidized and unsubsidized Federal Stafford Loans over a maximum ten-year period.

If you complete a Federal Stafford Loan (MPN) as a freshman or during your first semester at Caldwell, you will NOT have to complete another application for 10 years, or until you enter another College.
You will receive a Loan Guaranty Summary from your guarantee agency. Your lender will provide you with a Loan Disclosure Statement.
If you are a first-time borrower at Caldwell College, your first disbursement of loan proceeds cannot be made until 30 days after the first day of your enrollment period or start of classes
Your loan will be disbursed according to a schedule established by Caldwell College and Federal guidelines. It will be made in two or more installments and transferred electronically to your college account.
Please remember that a Federal Stafford Loan is a loan, not a grant. You must repay the funds you borrow, plus interest and fees. If you have any questions, do not hesitate to contact the Office of Financial Aid at 973-618-3221 or at FinancialAid@Caldwell.edu .

To decline or accept a lesser amount please notify us at FinancialAid@Caldwell.edu.