Loan Information

Requesting a loan must be done online for the 2008-2009 academic school year. Request a loan only after you have carefully reviewed your financial aid award letter, and the amount of loans offered.

STUDENT Stafford Loan - If you are awarded a Stafford Loan and would like to accept it, you can accept any amount up to but not exceeding the amount on your award letter.

  • Review the Award Letter.
  • Go to the online Lender List to request a Stafford Loan Be sure to request the annual amount desired.
  • Simpson University will receive confirmation of the loan request. As prompted, please complete and e-sign the Master Promissory Note online.
  • If you do not request a loan, Simpson University will decline it on your behalf.

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Federal PLUS Loan for Graduate students - Once you have requested the full amount of your Stafford loans, you will have the opportunity to help with your cost of college by taking out the Graduate PLUS Loan. You can borrow any amount up to but not exceeding the amount on the award letter.

  • Analyze the annual amount you will need to request (deducting the 3-4% origination fees).
  • Go to the online Lender List to request a Graduate PLUS Loan Be sure to request the annual amount desired.
  • The Grad PLUS request is a three-step process: (1) fill out the required confirmation form; (2) fill out the required pre-approval credit check; and (3) e-sign the Master Promissory Note. 
  • If you do not request a loan, Simpson University will decline it on your behalf.

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Private Loan - Private Loans are available to students in addition to Stafford loans. Once a Private Loan is certified by the university, the funds will be transmitted electronically to your student account. This process expedites the delivery of loan funds and eliminates the need for you to endorse a check.

Please carefully review the Lender List and choose the lender that best fits your needs.  Please request the annual amount needed. If you intend to have a co-signer, please be prepared to provide that person's information. Most borrowers will obtain a better interest rate (and in some cases lower fees) by having a co-signer with good credit. Most private loans require a co-signer if the borrower has little or no credit history.

  • Analyze the annual amount you will need to request (some private loans are subject to origination fees).
  • Go to the online Lender List to request a Private Loan with the lender of your choice.
  • The private loan request is a three-step process: (1) go to the online Lender List to request a private loan by clicking "Apply Now" with the lender of your choice; (2) fill out the required pre-approval credit check: and (3) e-sign the Master Promissory Note.
  • The lender may request additional documentation prior to the final approval of your loan.  Please provide the lender with all requested documentation to avoid delays in the processing of your loan.

There are generally two types of private loans, (1) school certified, (2) and non-school certified.  School certified private loans are not allowed to negatively impact your financial aid package and the amount that can be requested cannot exceed your federal budget for financial aid.  Non-school certified loans (also called Direct-to-Consumer, or DTC, loans) have no limit on the amount that can be borrowed; however, they can negatively impact your financial aid package and may exceed your federal budget for financial aid.  DTC loans can cause you to lose grants and scholarships if they are taken out for an amount that exceeds your financial eligibility.  DTC loans usually have higher fees, higher interest rates, and less favorable repayment options than school certified loans.  We do not recommend that a student pursue taking out a DTC loan.  If you need additional funding to cover your college expenses, then we recommend a school certified private loan.  Remember to only take out a private loan after you have exhausted all of your federal loan options (Stafford and Grad PLUS).  If you intend to take out a DTC loan, please contact Student Financial Services at (530) 226-4111 to discuss the impact this will have on your current financial aid package.

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Lender List - If you have not borrowed before, we recommend that you choose a lender that you feel comfortable with. You must choose a lender in order to complete the online confirmation. If you do not see a lender on our list that you would like to use, please select "Other Lender" and enter the required information. Please note that using a different lender than those Simpson University offers may delay the processing of your loans. If you have already borrowed from the federal loan program, we recommend that you use the same lender. If you choose to select a different lender than previously used, you must complete and e-sign a new Master Promissory Note (MPN) with that lender, or your funds may be delayed.

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