Cost and Aid Menu ▾

Loan Information

Loans to help pay for college expenses are available for both students and parents. Loan funds must be repaid.

Federal Direct Stafford Student

William Woods financial aid office determines loan eligibility using results from the FAFSA.

The Student Financial Services office will communicate via WWU issued email any award letters, updates, and any other documentation requirements.

  • Subsidized Loans - the government pays the interest while you are in school.
  • Unsubsidized Loans - the student is responsible for the interest, it accrues (gains) or can be paid while a student is attending college.

Please refer to for student loan rights and responsibilities and in depth information regarding Stafford Student Loans and Parent Plus Loans.

For current originations fees, interest rates, and repayment options for both Parent and Student Federal Stafford Loans please visit

Maximum Award Amounts

The maximum award amount for dependent undergraduate students in an academic year is as follows:

  • Freshmen: $5,500 (of which $3,500 could be Subsidized Stafford Loan)
  • Sophomores: $6,500 (of which $4,500 could be Subsidized Stafford Loan)
  • Juniors & Seniors: $7,500 (of which $5,500 could be Subsidized Stafford Loan)

Independent undergraduate students are eligible for additional amounts and may receive the following:

  • Freshmen & Sophomore: $4,000 Unsubsidized Stafford Loan
  • Juniors & Seniors: $5,000 Unsubsidized Stafford Loan

Graduate Students may receive up to $20,500 in an academic year.

Entrance Counseling and Master Promissory Note

Students must also have on file with the Department of Education a Master Promissory Note for William Woods University and have completed Entrance Counseling.

Entrance counseling and the completion of the master promissory note required to receive a Federal Stafford loan. *As a reminder please do not complete the Grad master promissory note as our University does not accept that at this time. Apply for your Federal Loan(s) using your FSA ID at

Federal Plus Loan

Parents of dependent students are eligible to apply for the credit-based Federal Direct PLUS Loan. The loan amount varies, but the maximum parents may borrow is the cost of attendance minus the student's total financial aid. The interest rate is fixed and interest begins accruing as soon as the loan is disbursed. Repayment begins within 60 days after the full disbursement of the loan. An Origination Fee will be deducted from the gross loan amount prior to disbursement to the University. In most cases, one disbursement will be made each semester. To apply for the PLUS Loan, follow the instructions on the below. The FAFSA is required to apply for the PLUS Loan. A PLUS Master Promissory Note is required prior to WWU processing of a PLUS loan.

To apply, please visit

Federal Loan Sample Repayment Chart

Balance* Number of Payments Standard Monthly Payment Estimated Total Repayment
$3,500.00 90 $50.00 $4,471.03
$4,500.00 120 $51.79 $6,214.80
$5,500.00 120 $63.29 $7,594.80
$7,500.00 120 $86.31 $10,357.20
$8,500.00 120 $97.82 $11,738.40
$10,500.00 120 $120.83 $14,499.60
$11,000.00 120 $126.59 $15,190.80
$13,500.00 120 $155.36 $18,643.20
$16,000.00 120 $184.13 $22,095.60
$27,000.00 120 $310.72 $37,286.40
$30,000.00 120 $345.24 $41,428.80
$31,000.00 120 $356.75 $42,810.00
$35,000.00 120 $402.78 $48,333.60
$40,000.00 120 $460.32 $55,238.40
$50,000.00 120 $575.40 $69,048.00
$57,500.00 120 $661.71 $79,405.20
$60,000.00 120 $690.48 $82,857.60
$65,500.00 120 $753.78 $90,453.60
$80,000.00 120 $920.64 $110,476.80
$90,000.00 120 $1,035.72 $124,286.40
$100,000.00 120 $1,150.80 $138,096.00
$138,500.00 120 $1,593.86 $191,263.20
Based on a 6.8% interest rate.
Applies to Federal Direct Stafford Student and Parent PLUS Loans and Federal PLUS Loan

Private Loans

For those seeking additional loan options. Student may apply for private educational loans from various outside lenders. For a list of William Woods’ preferred lenders, please visit

Perkins Loan Servicing Information

Loans made through the Federal Perkins Loan Program, often called Perkins Loans, are low-interest federal student loans for undergraduate and graduate students with exceptional financial need.

Important: Under federal law, the authority for schools to make new Perkins Loans ended on Sept. 30, 2017, and final disbursements were permitted through June 30, 2018. As a result, students can no longer receive Perkins Loans. A borrower who received a Perkins Loan can learn more about managing the repayment of the loan by contacting either the school that made the loan or the school’s loan servicer.

Paying back your Perkins Loan: If you are attending school at least half-time, you have nine months after you graduate, leave school, or drop below half-time status before you must begin repayment. If you are attending less than half-time, check with your college or career school to find out how long your grace period will be.

William Woods University's Perkins Loan Servicer Contact Information

Mailing Address:

William Woods University - MO
c/o ECSI
181 Montour Run Road
Coraopolis, PA 15108

Phone Number: 888-549-3274

Perkins Loan Sample Repayment Chart

Amount Borrowed Number of Payments Payment per Month
$1,000.00 26 $40.00
$2,500.00 71 $40.74
$4,000.00 120 $42.42
$5,500.00 120 $58.33
$7,000.00 120 $74.24
$8,500.00 120 $90.15
$10,000.00 120 $106.06
$12,000.00 120 $127.27
$14,000.00 120 $148.49
$16,000.00 120 $169.70
This chart is based on a 5% interest rate.

Track Your Loans

National Student Loan Data System - NSLDS

Students and/or parents who borrow from the federal loan program will have their loan information submitted to NSLDS. This information is accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.

Exit Counseling