Loans | Casper College, Wyoming

Loans

If you think you may need additional funds to cover the full cost of your education, consider applying for a federal or private loan.

Loans are sums of money borrowed from federal or private agencies to help finance the expected family contribution. To maintain loan eligibility, students must show satisfactory academic progress (minimum credit-hour enrollment and grade point average). Loans must be repaid once the student graduates or does not meet the minimum credit enrollment per semester.

Before you choose which loan is best for you, investigate your options and make the best, most responsible choice for you.

Federal Loans for students

Federal loans are a low, fixed interest option for students to supplement the cost of their education. The loans include Direct Subsidized and Direct Unsubsidized. (Some people refer to these loans as Stafford Loans or Direct Stafford Loans.)

  • No credit check or co-signer required on subsidized or unsubsidized loans
  • Flexible repayment options
  • In-school deferment of payment
  • Requires completion of the FAFSA and other steps

Federal Direct PLUS Loans for parents

Federal Direct PLUS loans are credit-based, fixed interest option for parents of dependent undergraduate students.

  • Flexible repayment options
  • Federally insured
  • In-school deferment of payment option
  • Requires completion of the FAFSA and other steps

Wyoming Investment in Nursing (WyIN) Loan

These loans are repaid by working as a nurse or nurse educator in Wyoming or repaying the loan in cash. The funs are for students accepted into nursing programs at one of the six Wyoming community colleges, including Casper College, or the University of Wyoming. The need for financial assistance through WyIN is based on a student applying for federal financial aid by completing the Free Application for Federal Student Aid (FAFSA). Learn more about WyIN loans on the Wyoming Community College Commission website.

Private Loans

Private loans are typically only used when federal student or parent loans, grants and scholarships will not cover the total cost of your education.

  • Variable and fixed interest rate options
  • May require credit check and co-signer
  • Terms vary based on lender formation

Don't lose your loan

Before you drop a class, or if you receive a failing grade, make sure you aren't at risk of losing your loan due to unsatisfactory academic progress.

Plan your class schedule wisely

Remember, federal aid will only cover courses that count toward your degree.

Loans aren't awarded automatically

Unlike grants, which are awarded automatically through your FAFSA, you must complete additional steps for loans.

Remember to complete the FAFSA every year!

Complete the FAFSA online using your FSA ID (Casper College School Code: 003928). The priority deadline for applying for federal financial aid is early March for the fall semester and early October for the spring semester.