Loans

Student & Parent Loan Options at Bluffton University

Loans can be a helpful resource in financing your education, but the right choice matters. At Bluffton University, our Financial Aid Office guides you through federal student loans, parent PLUS loans and private/alternative loans so you can borrow wisely, understand repayment and keep your goals on track.

William D. Ford Federal Direct Loan Programs

All first-time direct loan borrowers at Bluffton must complete both Entrance Loan Counseling and a Master Promissory Note at Studentaid.gov before loans can be disbursed to their account.

Types of Loans You SHould Know

Federal Direct Student Loans — Low‑cost, government‑backed loans available to eligible students based on your FAFSA® and enrollment.
- To learn more, visit gov/understand-aid/types/loans/subsidized-unsubsidized
- To receive this funding, complete the following steps:
  - Accept the loans funds in MyBluffton on the financial aid window
  - Complete a Master Promissory Note (MPN) at https://studentaid.gov/mpn/. Log in using your FSA ID
  - Complete Loan Entrance Counseling at https://studentaid.gov/entrance-counseling/. Log in using your FSA ID
Parent PLUS Loans — For parents of dependent students; borrowed under the student‑aid process and may have a credit check.

- To learn more, visit studentaid.gov/understand-aid/types/loans/plus.

- To apply, visit https://studentaid.gov/app/launchPLUS.action?plusType=parentPlus
- You will use your parent FSA ID to log in. Once the application is complete you will also need to complete a Master Promissory Note at https://studentaid.gov/mpn/, selecting “I’m a Parent of an Undergraduate Student”
- One parent must complete both the application and the Master Promissory Note (MPN) at studentaid.gov.
Private or Alternative Loans — Provided by external lenders; terms vary. Only recommended when federal options aren’t sufficient.
- Private parent loans are private education loans that parents, family members, or other creditworthy individuals may borrow to assist undergraduate and graduate students who are attending school full time, half time or less than half time. The student cannot be the borrower or the cosigner.
- To apply for a private education loan, please click on Elm Select for lender information and selection.

How to Borrow Responsibly

File your FAFSA® first. This determines eligibility for grants and student loans.
Accept only the loan amounts you need on your my.Bluffton portal. The less you borrow, the less you’ll have to repay later.
Complete Entrance Counseling and sign your Master Promissory Note (MPN) for federal loans before disbursement.
Understand repayment: what your monthly payment might look like, when repayment begins, and how to manage your debt.
Use extra funds for academic and educational costs, not unrelated purchases. Keep your debt aligned with your future earning potential.

What Happens After You Accept a Loan

Your loan funds will be applied to your student account once you’re enrolled at least half‑time and all requirements (MPN + counseling) are complete.
You’ll receive a disclosure statement telling you how much you borrowed, your interest rate, when repayment begins, and your rights.
Stay enrolled and maintain satisfactory academic progress. Failure to do so may impact your eligibility for future loans.

Tips to Keep Your Debt in Check

Compare loans: federal vs private. Federal loans often have more protections (income‑driven repayment, forgiveness options).
Making small payments or interest‑only payments while in school if possible helps reduce overall cost.
Monitor your total debt‑to‑income ratio. Aim for your monthly student debt payment to be manageable in your future job.
Consider employment or work‑study to offset what you borrow. Bluffton offers on‑campus job opportunities through Learn & Earn.