Admissions: Financial Aid

Spelman College Graduates with President Beverly Daniel Tatum

Overview of the Federal Direct Loan Process

Spelman College participates in the William D. Ford Federal Direct Loan Program that enables students who are enrolled half-time or more and parents to borrow low-interest loans for educational expenses directly from the U.S. Department of Education.  

In order for Spelman to disburse your student loan funds to your account, you must complete a master promissory note and entrance loan counseling. Also, parents must complete a PLUS application and master promissory at the following website: www.studentloans.gov

If you have any additional questions or concerns regarding the Federal Direct loan program, please contact Ms. Standrine Francis at 404-270-5211 sfrancis@spelman.edu, or Ms. Helena Kindred at 404-270-5216 hkindred@spelman.edu.

The National Student Loan Data System

As a consumer, you need to be aware that the U.S. Department of Education will post your Federal Direct Loan data on the National Student Loan Data System, which is accessible by federal student loan guarantee agencies, lenders and institutions which the Department of Education has authorized access to this data system.

Information on Loans and State Grant Assistance

Please see www.studentloans.gov for additional information about student loans and other student aid programs including grant assistance from your state of legal residence.

There are two types of Federal Direct Stafford Student Loans:

The Federal Direct Subsidized Loan:  The U.S. Department of Education pays the interest on the Subsidized Loan amount borrowed while you remain in school at least half-time and continues to be paid through the six month grace period after graduation or leaving higher education.  This loan is based on financial need. 

The Federal Direct Unsubsidized Loan: You are responsible for paying the interest on the Unsubsidized Loan from the time the loan is disbursed until it is fully repaid. You can pay the interest while in school or allow the interest to accrue.  Any accrued interest will be added to the principal balance of loan at the end of your loan grace, or deferment period (capitalized).

How Much Can I Borrow?