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About Student Loans
Basic Information about Student Loans NOBTS does not offer a loan program through our institution, but we do work with independent financial institutions that offer Private (also often called Smart Option or Educational) Loans. Important: NOBTS does not accept any Federal loans including Stafford loans and Pell grants, though your current Federal loans can continue to be deferred while you attend NOBTS. *Each student who applies for a loan must complete this form and mail (3939 Gentilly Blvd, New Orleans, LA 70126), fax (504-816-8437), scan/email (financialaid@nobts.edu), or hand-deliver it to the Financial Aid Office declaring how the loan will be utilized. This form allows the Director to certify that your loan is for educational purposes only and ensures the we maintain appropriate records as an institution. Educational purposes may include: tuition, fees, books, and some living, commuting, and/or additional educational expenses. The Finanical Aid Office recommends that you only take out a loan for one semester, or at most one year, at a time. *Once money from a loan is placed on your NOBTS account, any immediate balance, such as tuition, fees, and rent, will be paid first. Any credit that remains can be distributed to the student to cover other expenses approved during the loan certification process. ******** Sallie Mae Smart Option Loan We are now able to process the Smart Option Loan through Sallie Mae. Below is a link to their website and step-by-step instructions on how to apply. 1. Go to https://opennet.salliemae.com/apploansummary/?school_id=00201900 2. Choose the right hand column and register as a first time user. 3. After accepting the Terms and Conditions, enter your profile information to create an account. 4. Select the Start a Loan link. 5. Select the Start a Private Loan link. 6. After applying for a loan, contact the Financial Aid Office to declare how your requested loan amount will be utilized. The Financial Aid Director will then consult with you regarding this request, after which time your loan will be certified. ***Do not apply for a Graduate PLUS Loan or any other loan that is dependent on federal funding. NOBTS is not able to accept federal funding, and your selection of the wrong type of loan will significantly increase the amount of time required to process your loan. Only apply for Private (also often called Smart Option or Educational) Loans. The website will take you step-by-step through the rest of the application process. You will also be able to sign your application using the e-signature feature. If you have any questions, you can contact the Financial Aid Office (504.282.4455 ext. 3348) or Sallie Mae (888.272.5543). ******** Loan Process from Another Bank
******** Information on Educational Loans through Private Organizations Loan Name/Originator. American Baptist Church of the USA Graduate Loan Who is Eligible? Graduate Students Loan Amount. $1,000.00 per year. Repayment (over six years) begins, and interest starts to accrue, six months following graduation or conclusion of studies. (See address under grant) Application Deadline. May 31 ******************** Loan Name/Originator. American Baptist Church of the USA Undergraduate Loan Who is Eligible? Undergraduate students. Loan Amount. $500.00 per year. Repayment (over six years) begins, and interest starts to accrue, six months following graduation or conclusion of studies. Application Deadline. May 31 ******************** Loan Name/Originator. American Baptist Churches Who is Eligible? Graduate students; repayment begins, and interest starts to accrue, six months following graduation or conclusion of studies. Application Procedure. Write to:
******************** Loan Name/Originator. Bill Raskob, Inc. Who is eligible? Must have completed one year of study; low interest loans for students Loan Amount. $1,000-$3,000 Application Procedure. Write to:
******************** Loan Name/Originator. Grand Encampment Knights Templar Educational Foundation Loan Who is eligible? Should be legal resident of the Division (state) to which application is being made (if address is unknown, use address above); based on scholarship, character, and dependability; loans are repaid, following graduation with 5% interest. Loan Amount. $3,000 per year, for up to 2 years Application Procedure. Write to:
******************** Loan Name/Originator. Hattie M. Strong Foundation Loan Who is Eligible?The foundation administers loans to students in their final year of study in a baccalaureate or graduate degree program. Loans are interest free, with no collateral. Repayment is based on monthly income after graduation. Loan Amount. Maximum of $2,500 Application Deadline. Applications are mailed to students January 1 - March 31. Application Procedure. Write to:
******************** Loan Name/Originator. Student Aid Foundation Loan Who is eligible? Women, must be residents of, or attend school in, Georgia, who have above average academic ratings, and who are in need of financial assistance. For full-time students. No interest while in school. 6% interest is charged beginning three months after school. After three years interest goes to 12% on balance of loan. For one academic year. Renewable for three additional years. Approximately 35 awards each year. May reapply for additional years. Loan Amount. $2,500 (undergraduate) and $3,000 (graduate) Application Procedure. Write to:
******************** Loan Name/Originator. United Methodist Church Board of Higher Education and Ministry Student Loan Who is eligible? Must have membership in United Methodist Church ; must be a citizen or permanent resident of US. Application Procedure. Write to: United Methodist Church Board of Higher Education and Ministry Student Loan |
1 Corinthians 1:4-5 (NIV)
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