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Financial Aid
Outside/Private Scholarships
Payment of these scholarships to the Student Account bill must be disbursed to the Student Account Office by the semester due date. Please send a copy of the scholarship award letter to the Student Account Office. Additionally, financial aid recipients should be aware that these scholarships may reduce your eligibility for other programs if the Financial Aid Office has not been made aware of the award. Contact Financial Aid at 802-860-2730 or finaid@champlain.edu
PLUS Loans
The federal parent PLUS loan has an origination fee that is deducted from the loan amount and is disbursed in two equal payments for each semester.
Review the Financial Aid webpage for further loan information.
http://www.champlain.edu/finaid/lenders/plus.php
Use the formula below to calculate the disbursement amount of the loan:
To receive a net PLUS loan amount of $15,000 in two semester installments, divide the $15,000 by .97 (a sample origination fee of 3%) which equals the
Gross PLUS Loan Amount is $15,464 to request from the lender.
Stafford Loans
The federal Stafford loan has an origination fee (if applicable) that is deducted from the loan amount and is disbursed in two equal payments for each semester. The Financial Aid webpage lists origination fees for suggested lenders.
Review the Financial Aid webpage for further loan information.
http://www.champlain.edu/finaid/lenders/stafford.php
Use the formula below to calculate the net disbursement amount of the loan:
Stafford loan amount of $3500 in two semester installments, multiple the $3500 by .99 (a sample origination fee of 1%) which equals the
Net Stafford Loan Amount is $3465 to be disbursed $1733 and $1732 for each semester.
Perkins Loans
Current Champlain Students
Perkins Loans are awarded to the student from the Financial Aid Office. The promissory note and entrance counseling form is mailed to the student from the Financial Aid Office in July to be signed and returned. The award is listed on the Student Account billing statement as a pending financial aid credit. http://www.champlain.edu/finaid/index.php
Repayment
Perkins Loans are repaid to Champlain College through Campus Partners. Students must complete an exit interview with the Perkins Loan Coordinator before graduation or if they withdraw from Champlain College. Contact Cheryl Taylor at taylor@champlain.edu or call 802-865-6482.
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