Your FAFSA must be received by April 15 in order to ensure you are considered for the maximum amount of state financial aid and grants.
There are a wide variety of ways to pay for your education, and they all start with financial aid. We are the least expensive private college in Indiana, and we offer extensive financial aid.
Below are guides, information, and answers to some FAQs. If you still have questions and can’t find the answers you’re looking for here, please email us at finaid@marian.edu and one of our faculty will be in touch with you!
We want to help make a college degree from Â鶹ֱ²¥'s Ancilla College a reality for you
There are a wide variety of ways to pay for your education, and they all start with financial aid. We are the least expensive private college in Indiana, and we offer extensive financial aid. See above for the various types of assistance.
Federal Stafford Loans
Students must be enrolled at least half-time (6 credits per semester) to receive a loan for that semester.
The terms of the need-based Subsidized Federal Stafford Loan Program require that the student borrower repay, with interest, this source of financial assistance. This program is referred to as subsidized because the federal government pays the interest on your loan while you are enrolled in college. Eligibility for this type of loan is determined after you complete the FAFSA.
The terms of the non-need-based Unsubsidized Federal Stafford Loan Program require that the student borrower repay, with interest, this source of financial assistance. Interest on Unsubsidized Stafford Loans begins to accrue after disbursement of the loan funds. The student, however, may choose to have the payment of the interest deferred during enrollment and later capitalized (added to principal) at the time repayment begins. Eligibility for this loan type is determined after completion of the FAFSA.
Annual borrowing limits for Â鶹ֱ²¥'s Ancilla College students currently:
Dependency status is determined by completing the FAFSA. The laws governing the Federal Student Aid programs are based on the premise that the family is the first source of the student’s support, and the law provides several criteria that decide if the student is considered independent of his/her parents for aid eligibility. In particular, a student reaching the age of 18 or 21 or living apart from parents does not affect the dependency status. If the student is considered a dependent of his parents, information on the income and assets of the parents must be included in the FAFSA. The questions to determine dependency are in the FAFSA.
Aside from interest payments, there is approx. 1 percent loan fee on all Direct Subsidized Loans and Direct Unsubsidized Loans. The loan fee will be deducted from each loan by the Department of Education prior to disbursement to the college or university.
If you already have federal student loans and would like to check the interest rate, services information, and other financial aid histories, go to the .
Find out how interest is calculated —
If you are a member of the military, you may be eligible for special interest benefits relating to your federal student loans —
Maximum Total Debt Limits
There is a limit to how much you can borrow for your education.
| Year | Dependent Students (except students whose parents are unable to obtain PLUS Loans) | Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans) |
|---|---|---|
|
First-Year Undergraduate |
$5,500—No more than $3,500 of this amount may be in subsidized loans. |
$9,500—No more than $3,500 of this amount may be in subsidized loans. |
|
Second-Year Undergraduate |
$6,500—No more than $4,500 of this amount may be in subsidized loans. |
$10,500—No more than $4,500 of this amount may be in subsidized loans. |
|
Maximum Total Debt from Subsidized and Unsubsidized Loans |
$31,000—No more than $23,000 of this amount may be in subsidized loans. |
$57,500 for undergraduates—No more than $23,000 of this amount may be in subsidized loans. |
Repayment Plans and Calculators
There is a multitude of ways that you can pay off your student loans. Check out your
We understand there are a lot of questions when you're looking into college and continued education. We’ve compiled a list of frequently asked questions and answers for your convenience below.
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Â鶹ֱ²¥ does not discriminate on the basis of race, ethnicity, color, sex, gender, gender identity, sexual orientation, religion, creed, national origin, age or disabilities in the selection of administrative personnel, faculty and staff, and students.
*Placement rates are gathered from data collected from graduates within six months of graduation.
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