Commissioner of Higher Education
Montana University System
46 N. Last Chance Gulch
P.O. Box 203201
Helena, MT 59620-3201
MONTANA COLLEGE LOAN LENDERS:
- AMS Education Loan Trust (833067) - Swansea, MA. 800-637-3060. Stafford Loans, PLUS Loans
- Bank of America (806746) - Brea, CA. 800-344-8382. Stafford Loans, PLUS Loans
- CHASE, Formerly Washington Mutual Bank (820043) - Seattle, WA. 800-433-2476. Federal Stafford, PLUS loans
Montana Student Loans
Qualifications for federal student aid require the student to be a U.S. citizen, enroll in an accredited school and seek a degree at minimum on a half-time basis. Once a FAFSA is filed, the U.S. Department of Education will provide the student, and the Montana schools designated by the borrower, a Student Aid Report (SAR). The school then uses the SAR to determine what loans the borrower qualifies for. Depending on when the application is filed and financial need, the students may also receive for a Federal Pell Grant or a Montana state grant. These grants are awarded annually.
The list of participating Montana schools and colleges who accept federal student loans is extensive. Providing the school is accredited, and the student is enrolled in a qualified program the loan can be used to cover academic expenses. Some of the participating Montana schools include Montana University, Little Big Horn College, and Dawson Community College.
Students in Montana may also qualify for private funding. Depending on the borrowers credit history, lenders can extend students additional money outside their federal loans, grants and scholarships. Loan limits in for private student loans are generally more lax and the application process is much faster. Before taking out a private loan, students are encouraged to seek federal options and then review and compare different loan programs before they sign on with a lender.