Investing in your education

Some families choose to help finance a college education through student and parent loans. Our Financial Aid Office will help you understand your loan options.

Loans


Student loans are an excellent resource to assist in college affordability and provide access to a private, liberal arts education. Federal student loans provide limited borrowing ability each year with competitive and affordable interest rates. The key to borrowing for your education is borrowing wisely. The federal government limits how much a student may borrow per year, which helps keep student debt at a manageable level.

Realize your earning potential faster

Only 65% of May 2016 graduates seeking their first degree at William Jewell borrowed federal student loans. The average of all federal student loan debt for a four-year graduate at William Jewell College is $23,969, slightly below the federal limit over four years of $27,000. In fact, when private student loan debt is added, Jewell graduates borrowed $29,885; less than the $30,000 national average. When you consider that at many institutions it may take five or six years to graduate, then you can see how Jewell students get more value in obtaining their undergraduate degree. You borrow the same amount, enter the workforce sooner and begin realizing your earning potential. Graduates also maintain a 5.6% default rate, well below the national average of 13.4%. What does this mean? Jewell grads borrow responsibly and repay their loans.

Make the Most of Your Loans

Financial aid proceeds will be applied against all student charges including tuition, fees, room and board shown on the student account. In addition, financial aid proceeds will be applied to cover allowable charges other than those stated above, unless the parent or student provides the William Jewell College Business Office a statement in writing requesting these other charges not be paid with financial aid proceeds. This written request will take effect on the date that the Business Office receives it and is not retroactive.

Net Price Calculator


Complete the entire form to estimate your financial aid options for Jewell. Financial need and academic merit are considered; talent scholarships will not be reflected.

Net Price Calculator

Types of Loans

  • Federal Direct Loan Program

    By completing a FAFSA annually, you have successfully applied and guaranteed eligibility for a Federal Direct Loan. Direct Loans are low-interest student loans funded by the U.S. Department of Education. To receive your first loan disbursement, students must complete Loan Entrance Counseling and a Master Promissory Note (MPN) at http://studentloans.gov.

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  • Carl D. Perkins Loan Program

    The Perkins Loan is need-based financial aid offered by William Jewell to students with demonstrated financial need. It is a subsidized (interest deferred) loan with a 5% fixed interest rate and it carries a nine-month grace period before repayment begins after graduation (or dropping below a half-time enrollment). The application is a paper process managed by Jewell's student loan coordinator, and a FAFSA must be completed. You will be notified to complete and sign your loan documents in the weeks prior to the first day of classes. Questions may be directed to the Student Loan Coordinator at studentloans@william.jewell.eduLoan forgiveness of a Perkins Loan may be available for students pursuing designated career paths such as teaching, nursing, law enforcement and social services.

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  • Federal Nursing Loan Program

    The Federal Nursing Loan is very similar to the Perkins Loan except that it is funded by the Department of Health and Social Services rather than the Department of Education. A Nursing Loan also lacks forgiveness opportunities. To be eligible for the Federal Nursing Loan, borrowers must adhere to the new Federal Truth in Lending Act (TILA) requirements. To complete this process, visit ACS Education TILA E-Sign. A Personal and Confidential Form must be completed and submitted to the Student Loan Coordinator at William Jewell College, 500 College Hill, Campus Box 1028, Liberty, MO 64068 or emailed to studentloans@william.jewell.edu.

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  • Private Student Loans

    These non-federal loans are similar to what you might obtain from your bank. Based on your (student) credit history and the credit of your co-signer (parent, family member, friend, etc.), your interest rate may vary based on the marketplace. Generally, we ask you to speak with a financial aid counselor before pursuing private student loans to make sure all other federal options have been exhausted.

    Jewell certifies many private educational loans for students who need assistance to cover additional educational expenses. Interest rates are based off either the LIBOR or Prime interest rate. The amount above or below the current interest rate will be determined by your credit and your co-signer’s credit should you apply with a co-borrower. Not all lenders require a co-signer; however, one may be necessary if you do not have an established credit history. William Jewell recommends a select group of loan products based on customer service and borrower-friendly benefits we have solicited. You are not required to choose one of these lenders or loan products; however, we recommend that you start here when beginning your private student loan search.

    FASTChoice Private Student Loan Research Tool

    Jewell’s Code of Conduct pertaining to private student loans and lender relations is available for public review: William Jewell College Code of Conduct.

    William Jewell College encourages all students to exhaust all Federal loan options before pursuing the private market.

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  • Federal Parent Loans

    A Federal Parent Loan is not a student loan at all. These competitive loans give parents a long-term financing solution to assist their child. Only one parent may borrow per term and the student must be a dependent undergraduate according to the FAFSA and eligible for the Federal Direct Loan.

    • 7.00% Fixed interest rate beginning July 1, 2017
    • 4.276% Origination fee is deducted by ED at time of disbursement

    For every $5,000 borrowed, a parent can expect to incur a $58 monthly payment for a standard 10-year repayment. We encourage all parents deciding on a Parent Loan to complete the Loan Entrance Counseling for Parents to make sure you are comfortable with the terms of this Federal Loan. For disbursement to be complete, a parent must:

    Once both steps are completed, Jewell will add the requested loan amount to the student account and schedule a disbursement date for the first date of classes, or within two business days if the term has begun.

    If your Parent Loan is denied due to credit reasons, your student is allowed additional eligibility in an unsubsidized Federal Direct Loan. This is a better solution than pursuing a Private Loan, but this does increase the total borrowing capacity of the student, which could lead to undesirable monthly repayment upon the students graduation at Jewell. For this reason, we encourage parents who are denied to consider paying the interest on the additional unsubsidized loan while the student is in school to prevent the student from needing to pay accrued interest as a result of a denied Parent Loan.

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  • Loan Resources and Repayment Info

    Try these loan repayment calculators, debt/salary calculators and database resources to track how much you have borrowed and which federal servicing partner you should contact with questions.

    Loan Services

    Counseling Services
    Federal Student Loans:
    Loan Entrance Counseling is required before borrowing student loans for the first time. Financial Awareness Counseling

    Loan Exit Counseling: Graduating, transferring, or leaving Jewell? Loan Exit Counseling is required upon completing your education. Find out your responsibilities in repaying your loans.

    Awareness Resources

    Student Loan Forgiveness
    Public Service: Borrowers in the Federal Direct Loan program may be eligible for deferred payment provisions for service in the Peace Corps, service under the Domestic Volunteer Service Act of 1973, or comparable service as a volunteer for a tax-exempt organization of demonstrated effectiveness in the field of community service. Details are available from the Office of Financial Aid and Scholarship Services, 106 Curry Hall, William Jewell College, 816-415-5972.

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