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Financial Aid

 @HamiltonFinAid

Office of Financial Aid
800-859-4413
315-859-4962 (fax)

Types of Financial Aid

Loans for Parents

Loans for Students

Most financial aid awards consist of scholarships, work-study and loans. The average student indebtedness for graduating seniors is $17,000 to $20,000.

Federal Direct Loans
 

  • Subsidized loans do not begin accruing interest until after college graduation and have a fixed interest rate of 4.66% with a 1.073% origination fee.
  • Unsubsidized loans accrue interest upon disbursement and have a fixed interest rate of 4.66% with a 1.073% origination fee.
  • Repayment begins six months after the student graduates or drops below half-time enrollment.
  • Hamilton includes only subsidized loans in our financial aid awards, and the loan amount awarded yearly will increase according to the chart below. Depending on eligibility, additional loans may be borrowed to offset the expected family contribution.
  • Loan proceeds will be credited directly to the student's account within 10 days prior to the start of classes for each semester.
  • Additional information is available via the Direct Loan Basics for Students brochure.
     

Students initiate the borrowing process by:
 

Federal Student Loan Limits for the 2014-15 Academic Year

Year of Study
Maximum Subsidized /
Unsubsidized Base Amount
Additional Unsubsidized
Maximum Eligibility
Freshman $3,500 $2,000 $5,500
Sophomore $4,500 $2,000 $6,500
Junior $5,500 $2,000 $7,500
Senior $5,500 $2,000 $7,500



Federal Perkins Loan
 

  • Students cannot request a Perkins Loan; Eligibility is based on financial need and students are notified in their Award Letter.
  • 5% fixed interest rate.
  • Repayment begins 9 months after graduation and must be repaid in 10 years.
  • Students complete all forms for their loan in the Business Office after the start of classes each term.

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