Office of Financial Aid
MS-C1915Hamline University 1536 Hewitt Avenue Saint Paul, MN 55104
To be considered for any Federal Loan, students must complete the Free Application for Federal Student Aid (FAFSA). To be eligible for all federal loans and some alternative loans for students, you must be enrolled at least half-time per term (more information can be found in right-hand column of this page) in a degree-seeking program. You can learn more about applying for the FAFSA on our page about How to Apply for Financial Aid. You are also welcome to download our Student Loan Code of Conduct.
**Please see below as well for additional loans specific to your student type**
Federal Perkins LoanFederal Perkins Loans are borrowed directly from Hamline University. The loan is interest free until repayment begins, which is nine months after the student leaves school or drops below half-time status. The fixed annual interest rate is 5.00%.
Federal Direct Subsidized/Unsubsidized (Stafford) LoanAll eligible students may apply for the Federal Direct Subsidized/Unsubsidized Loan for up to the amount shown on the financial aid award letter. The Office of Financial Aid determines the portion of the loan that the federal government pays interest on while the student is in school (Subsidized Loan).
Alternative LoanAlternative loans are non-federal loans with you, the student, as the borrower. Alternative loan approval is based on your satisfactory credit history. Some alternative loans require a credit-worthy cosigner or allow you to use a cosigner in order to receive a lower interest rate. Typically, federal student loans are less expensive and offer better repayment terms than alternative education loans, so be sure to exhaust your eligibility for federal student loans before considering an alternative education loan.
Federal Direct Parent PLUS LoanDependent undergraduate students may have a Federal Direct Parent PLUS Loan included in their Hamline award letter. Depending on need, a parent may borrow up to Hamline’s “cost of attendance” minus any other financial aid that is awarded to the student. The Hamline University award letter indicates the maximum amount a parent may borrow for a student’s education during the coming school year.
United Methodist Scholarships and LoansThese United Methodist Funds are only available to undergraduate students who are members of the United Methodist Church.
Federal Direct Graduate PLUS LoanMaster, Doctorate and Law students may have a Federal Direct Graduate PLUS loan included in their Hamline award letter. If so, those students will be able to apply for the Federal Direct Graduate PLUS loan in addition to the Federal Direct Unsubsidized loan. Borrowers must apply for their annual loan maximum eligibility under the Federal Direct Unsubsidized loan before applying for the Federal Direct Graduate PLUS Loan. Please keep in mind that this is only available to master and doctorate students, licensure students are NOT eligible.
Bar Study LoanA variety of lenders offer non-federal loans to help cover the expenses associated with taking the bar exam.
Tools for Successful Student Loan RepaymentHamline has compiled a list of excellent resources designed to help you manage and successfully repay your student loan debt.
Half-time*: At least 6 credits per semester.
Full-time: At least 12 credits per semester.
State Grant: At least 15 credits per semester for full award.
Half-time*: At least 4 credits per semester.
Full-time: At least 8 credits per semester.
Summer half-time*: At least 3 credits.
Summer full-time: At least 6 credits.
The Hamline School of Law requires an "Underload Status Request" for all students taking less than 8 credits per semester during the fall and spring.
*Half-time status is a requirement for all federal and some alternative student loans.
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1536 Hewitt Avenue - Saint Paul, MN 55104-1284