Federal Direct Loan
This is a federal loan program which allows a student to borrow a maximum of $3,500 per year for the first year, $4,500 for the second year and up to $5,500 for the third and fourth years. To apply for this loan, one must be admitted to and in at least half-time attendance in good standing at an eligible institution. A FAFSA (MMC code is 003504) is required to be eligible for this loan. An applicant can complete the Master Promissory Note (MPN) for the direct loan at www.studentloans.gov.
United Methodist Student Loan Fund
An applicant for this loan must be a member of The United Methodist Church, a United States citizen, admitted to a degree program at an accredited U.S. institution, and must maintain at least a “C” average. A student enrolled at Martin Methodist may borrow a maximum of $2,500 per year at a fixed interest rate. Repayment must begin six months after the borrower ceases college enrollment and may extend for a maximum of six years. Applications may be obtained from Student Loans and sholarships, Board of Higher Education and Ministry, The United Methodist Church, P. O. Box 871, Nashville, TN 37202.
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