Catalog of Abilene Christian University, 1976-1977 Page: 15
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Financial Aid
The financial aid program at ACU is a multifaceted program to assist you in meeting
today's college expenses. Your resourcefulness or that of your family should be the
primary source of initial educational costs, but if you need financial aid the university
will help you to arrange your plans to finance your education.
Briefly, you will first work with the Financial Aid Officer in pinpointing the exact
amount needed. Then he will help you meet this need-which takes the form of
either a loan, a scholarship, student employment, or a combination of the three.
Federal financial aid programs are subject to change without notice.
The Loan Programs
Abilene Christian University offers a variety of loan programs and these comprise
the most significant area of financial aid.
National Direct Student Loans
Abilene Christian University approves and makes these loans and is responsible
for the collection of them. They are designed for students in need.
Availability:
Preference given to full-time students, but a half-time student is minimum for
consideration.
Amounts:
Maximum of $5,000 for undergraduate study; may be extended to $7,000 for
students continuing in graduate study.
Repayment and Interest:
Both begin nine months after you end your studies. Interest rate is 3% a year on
the unpaid balance, and repayment of principal may extend over a 10-year period.
No repayment of principal or interest is required while continuing your course
of study at an eligible institution or while serving in the Armed Services, the Peace
Corps, or the Volunteers in Service to America (VISTA) program. (The last three items
are limited to three-year deferments.)
Federally Insured Student Loans
Any U.S. citizen, national, or person in the U.S. for other than a temporary
purpose, who is enrolled or accepted for enrollment on at least a half-time basis at
an eligible school, may apply.
Banks, savings and loan associations, credit unions, pension funds, insurance
companies, and eligible schools may lend under the program. Loans are made at the
discretion of the lender.
Terms and Conditions of Guaranteed Loans
A maximum of $2,500 per academic year may be applied for if the educational
costs require borrowing to this extent. Total loans outstanding may not exceed
$7,500 for undergraduate or vocational students. This maximum may be extended to
$10,000 for students who borrow for graduate study.
The repayment period will usually begin from nine to twelve months after the
student graduates or withdraws from school. Repayment will normally be made in15
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Abilene Christian University. Catalog of Abilene Christian University, 1976-1977, book, March 1976; Abilene, Texas. (https://texashistory.unt.edu/ark:/67531/metapth46023/m1/17/: accessed April 26, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Abilene Christian University Library.