Numerous types of loans for college students and parents are available. To be considered for the following loans, you must file a Free Application for Financial Student Aid (FAFSA) each year.

Federal Carl D. Perkins Loan

What is a Federal Perkins Loan?
This is a need-based federal loan administered by Central College. Central awards this loan to students demonstrating a high level of need as shown on their FAFSA results.

Perkins Loan details:

How to apply for a Perkins Loan?

If you were awarded a Perkins loan, please complete the Master Promissory Note at www.central.edu/financial-aid/perkins/

By using the MPN, students will not need to sign and submit a separate promissory note for each new loan awarded.  The amount of each loan the student is eligible for is included on his/her award letter.

Who do I contact about my Perkin’s loan?
Please email Melissa Dunlap or call 641-628-5290.

Federal Direct Stafford Loans

Stafford Loans are offered through the Federal government. There are two types of Stafford Loans offered:  Subsidized and Unsubsidized. 

More information about Stafford loans

Important Loan Processing Tips
Loans are disbursed half in each semester.  You can reduce or cancel a disbursement of a loan at any time before the loan is received.
Contact the College to review loan options and processes early in the summer to avoid late disbursements.

Application Process

Public Service Loan Forgiveness Web Information:
http://studentaid.ed.gov/repay-loans/forgiveness-cancellation/charts/public-service
http://www.iowacollegeaid.gov/LoanForgivenessPrograms/studentloanforgivenessprograms.html

Who do I contact about Stafford loans?
please email Donna Newendorp or call 641-628-5187

Federal Direct Parent Loan for Undergraduate Students (PLUS)

Federal Direct Parent Loans are not awarded as part of a student’s financial aid award
Parents of all income levels are eligible, a credit check is completed by the Federal Direct Loan Servicer.

more information about Parent Plus loans

Application Process:
Parents need to complete the following three steps.

Interest Free Payment Options

A monthly, interest free payment option is available.

Monthly Payment Plan (optional):

This plan provides the option to spread the payments to Central over a 10 month period.  The monthly payment plan can be downloaded at www.central.edu/go/forms or contact the student accounts office for details.  The application is due June 14.

Entrance and Exit Loan Counseling

Entrance counseling information is provided to Federal Perkins Loan borrowers and William D. Ford Federal Direct Stafford Loan borrowers before any loan funds can be disbursed. Notification to complete the counseling is made through email with instructions on how to access the online, interactive counseling.

William D. Ford Federal Direct Stafford Loan borrowers are directed to complete entrance counseling online at www.studentloans.gov.

Federal Perkins Loan borrowers will complete entrance counseling at: https://www.central.edu/financial-aid/perkins/

Exit counseling information is provided to Federal Perkins Loan borrowers and William D. Ford Federal Direct Stafford Loan borrowers shortly before the student ceases at least part-time enrollment at the Central College. Notification to complete the counseling is made through email with instructions on how to access the online, interactive counseling.

William D. Ford Federal Direct Stafford Loan borrowers are directed to complete exit counseling online at www.studentloans.gov.

Federal Perkins Loan borrowers are directed to contact the Central College Loan Office at dunlapm@central.edu or 641-628-5290 to complete exit counseling.

When a borrower ceases enrollment without the institution’s prior knowledge, or fails to complete the counseling as required, exit counseling information will be mailed to the borrower’s last known address