Students who are residents of Connecticut, Delaware, the District of Columbia, Maine, Maryland, Massachusetts, Ohio, Pennsylvania, Rhode Island, Vermont or West Virginia, are required to apply on time to their state grant program. State grants are awarded to the student by the state scholarship office of the state in which the student resides. The Office of Financial Aid complies with state regulatory requirements. If the state funds have not been received at the time of Bryn Mawr’s award announcement, the Bryn Mawr grant and/or FSEOG will later be reduced by the amount of the state grant. If a student fails to meet her state grant deadline, the College will not replace forfeited state grant funds with Bryn Mawr grant.

On behalf of the federal government, the Department of Education will electronically transmit the loan funds to Bryn Mawr College each semester. The loan is credited to the student’s account once she completes a loan entrance interview and signs a master promissory note (MPN). The Office of Financial Aid will notify the student when the funds have been credited. Loan funds are scheduled to be disbursed on the first day of classes. When the student borrows for the entire year, one-half of the loan proceeds will be credited to the student account in the fall and the remaining half in the spring. If the student borrows for only one semester, the loan funds will be credited in a single installment during the term for which she borrowed.

Dependent undergraduate students whose parents are applying for a loan must complete a FAFSA. The Federal Direct PLUS is a non-need- based, low-interest federally subsidized loan program designed to help parents provide funds for the parental contribution.  Bryn Mawr College administers the PLUS application process and the funds are provided by the U.S. Department of Education.  A Parent PLUS loan applicant must pass a credit check and should not have an adverse credit history.

To apply, go to: https://studentaid.ed.gov/sa/

Interest Rate: Due to the Bipartisan Student Loan Certainty Act of 2013, interest rates on new Federal Direct PLUS Loans are established by the Department of Education each spring. Each loan will have a fixed interest rate for the life of the loan. For new loans made on or after July 1, 2018 and before July 1, 2019 the interest rates are:

 * Federal Direct PLUS loans (Parents) 7.6%

On July 1, borrowers may view interest rates each upcoming academic year at https://studentaid.ed.gov/types/loans/interest-rates​.

Interest is charged on PLUS Loan during all periods, beginning on the date of the first loan disbursement. A PLUS borrower may pay the interest as it accrues during a deferment, or allow it to accrue and be capitalized at the end of the deferment period.

Other Fees: A loan origination fee of 4.264% will be deducted from the gross amount on all Federal Direct PLUS Loans first disbursed  by September 30, 2018. For loans first disbursed on or after October 1, 2018, the loan fee may be different depending upon the across-the-board federal budget cuts, known as “sequester” put into place by the Budget Control Act of 2011. The Department of Education will notify borrowers of fee changes and will provide additional information.

Borrowing Limits: The yearly amount is limited to the difference between the student’s cost of attendance minus any other financial aid the dependent student receives, including   Loan assistance. There are no aggregate PLUS loan limits.

Direct PLUS Master Promissory Note: The PLUS Master Promissory Note (MPN) is a multi-year promissory note which a parent needs to sign only once, at the time he/she first borrows for that dependent. Parents may complete an electronic MPN (eMPN) at www.studentloans.gov.

Disbursement: When the parent borrows for the academic year, loan proceeds are disbursed in two equal installments, one per semester. If the parent borrows for only one semester, the loan funds are credited in a single installment during the term for which the loan was borrowed. Parents should take into consideration that a loan origination fee of 4.264% will be deducted from the loan disbursement each semester. This means that the net amount of PLUS loan funds credited to the student’s account will differ from the gross amount borrowed.

Repayment: Repayment begins on the date of the last disbursement. Parent PLUS loan borrowers whose funds were first disbursed on or after July 1, 2018 have the option of delaying their repayment on the PLUS loan either 60 days after the loan is fully disbursed or six months after the dependent student is not enrolled at least half-time. During this time, interest may be paid by the parent or capitalized.

Private loans are non-federal education loans offered by a lender such as a bank or credit union. Students should consider applying for a private loan only after exhausting all other possible sources of funds. Private loans often have variable interest rates, require a credit check, and may have less attractive repayment plans than federal loans. Many lenders require a credit- worthy co-signer. To learn more about Private Alternative Loans, visit: https://studentaid.ed.gov/types/loans/federal-vs-private 

Below you will find a list of lenders used by Bryn Mawr students over the past three years.  Please note that some of these lenders may not lend to Bryn Mawr graduate students.

The Career and Professional Development Office receives and maintains  part- time and temporary job postings from the local and Philadelphia communities. Child care, yard work, office work, sales, catering, computer user services, house and/or pet sitting, copy editing, research, and tutoring are examples of jobs posted on a regular basis. Interested students should visit the Career and Professional Development website: https://www.brynmawr.edu/lilac/career-planning