Student Loans at Sacred Heart Major Seminary
Student loans can be an important resource in helping you fund your education—but unlike grants or work-study, loans must be repaid with interest. Borrowing a student loan is a legal and financial commitment, so it’s essential to understand your responsibilities before accepting any loan offer.
What You Should Know
Student loans cannot be canceled just because:
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You didn’t like your program,
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You didn’t find a job in your field,
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Or you’re facing financial challenges.
Always borrow only what you need and consider your repayment ability after graduation.
Federal Direct Loan Program
Sacred Heart Major Seminary participates in the William D. Ford Federal Direct Loan Program, which allows eligible students to borrow directly from the U.S. Department of Education—no credit check or cosigner required.
Students who complete the FAFSA (Free Application for Federal Student Aid) are automatically considered for low-interest federal loans. If you're eligible, these loans will appear in your financial aid award letter.
If additional funding is needed, families may also apply separately for federal Parent PLUS or Graduate PLUS Loans, or pursue private/alternative loans through a bank or credit union.
Loan Eligibility Requirements
To receive federal student loans, you must be enrolled at least half-time in a degree program:
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Undergraduate students: 6 credits minimum
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Graduate students: 4 credits minimum
Have questions about your eligibility?
📩 Contact the Financial Aid Office
Types of Student Loans
🎓 Direct Subsidized Loan (Stafford)
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For undergraduate students with financial need
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No interest while enrolled at least half-time and during the 6-month grace period
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Not available to graduate students after the 2012–2013 academic year
🎓 Direct Unsubsidized Loan (Stafford)
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Available to both undergraduate and graduate students
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Not need-based
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Interest accrues while you're in school
👪 Parent PLUS Loan
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For parents of dependent undergraduate students
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Based on credit approval
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No automatic deferment while the student is enrolled
🎓 Graduate PLUS Loan
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For graduate students
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Requires FAFSA and credit check
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Eligible for in-school deferment
💳 Alternative/Private Loans
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Based on the borrower’s credit
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Can supplement federal aid
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Offered by banks, credit unions, and private lenders
📝 Loan Application Process
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Complete the FAFSA
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Receive your award notification from Sacred Heart
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Complete Loan Entrance Counseling
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Sign the Master Promissory Note (MPN)
📍 Start your FAFSA at: studentaid.gov
📤 Loan Exit Counseling
If you:
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Graduate,
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Drop below half-time enrollment,
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Or withdraw from your program,
You are required to complete Loan Exit Counseling to understand your repayment responsibilities.
🔗 Visit: Loan Exit Counseling at studentaid.gov
💬 Questions? We’re Here to Help
The Financial Aid Office is here to assist you at every step.
📧 Email: [email protected]
📞 Phone: 313-883-8692
📍 Office Hours: 8:30 a.m. to 4:30 p.m.
