Bowie State University participates in the William D. Ford Federal Direct Loan Program (usually referred to as the Direct Loan Program). BSU's status as a direct lending institution precludes the University from processing any federal loans from private banks or other lending institutions. The U.S. Department of Education is the lender and will pay the student through the school.
When you apply for student financial aid, you will receive an offer of a long-term, low-interest educational loan. A student loan is a serious obligation because it must be repaid with interest.
Parents may also borrow loans for their dependent children who are students.
Private educational (alternative) loans are another option for students and parents who have applied for federal Title IV loans and still need additional funds. For more information, contact the Office of Financial Aid.
Bowie State University participates in the Federal Direct Lending Program; however, we also offer Alternative Loans through banks and lending institutions for those students and parents who may have additional need for a loan outside of the Direct Lending Program. In keeping with the Higher Education Opportunity Act (HEOA) of 2008 and our Program Participation Agreement we abide by the following Student Loan Code of Conduct.
1. Bowie State University does not participate in any revenue-sharing arrangements with any lender.
2. Bowie State University does not permit any employee of the school who is involved in the administration of financial aid to accept any gifts of greater than a nominal value from any lender, guarantor, or servicer.
3. Bowie State University does not permit any employee of the school to accept any fee, payment or other financial benefit (including stock purchase option) from a lender or affiliate as compensation for any type of consulting arrangement or contract to provide services to a lender or on behalf of a lender relating to educational loans.
4. Bowie State University does not permit any employee to accept anything of value from a lender, gurantor, or group of lenders and/or gurantors in exchange for service on an advisory board, commission or other group established by such a lender, gurantor, group of lenders and/or gurantors. Bowie State University does not assign a lender to any first-time borrower through finanicial aid packaging or any other means.
5. Bowie State University recognizes that a borrower has the right to chose any lender from which to borrow or to finance his/her education. Bowie State University will not refuse to certify or otherwise deny or delay certification of a loan based on the borrower's selection of a lender and/or guarantor.
6. Bowie State University will not request or accept any offer of funds to be used for private educational loans to students from any lender in exchange for providing the lender with a specified number or volume of Title IV loans, or a preferred lender arrangements for Title IV loans.
7. Bowie State University will not request or accept any assistance with call center or financial aid staffing.