Wentworth uses the Federal Direct Loan program. This means that all Subsidized and Unsubsidized Stafford loans, Parent PLUS loans, and Graduate PLUS loans will be processed through the Department of Education.

Subsidized and Unsubsidized Stafford Direct Loans

The Direct Loans for which you are eligible will be offered to you on your financial aid package. These loans are borrowed under your name through the Direct Loan program.


You must be submit a FAFSA and be enrolled at least half-time (six credits per semester for undergraduates) to be eligible for these loans. For the Subsidized loan, you must demonstrate financial need as determined by the FAFSA.  The amount of loan eligibility is based upon the student's grade level.  If the student changes grade levels within the academic year, the student can request the increase eligibility by emailing their financial aid counselor using the student's WIT email.

If a student drops below half-time enrollment, his loans will go into the grace period and then repayment.  Should the student return to half-time or greater enrollment, his loans will go back into deferment.  Should a student use his grace period prior to graduation, it may no longer be available and upon graduation, and the student will directly into repayment.

First-time borrowers are required to complete Entrance Counseling and a Master Promissory Note (MPN), which detail the borrower’s rights and responsibilities.

Subsidized vs. Unsubsidized

Subsidized loans are need-based loans. Interest on these loans does not accrue while you are in school and during the 6-month grace period after you leave school. Unsubsidized loans will begin accruing interest as soon as they are disbursed to you.


  • Freshmen: $3,500 subsidized + $2,000 unsubsidized
  • Sophomores: $4,500 subsidized + $2,000 unsubsidized
  • Juniors and Seniors: $5,500 subsidized + $2,000 unsubsidized

Independent students, and any dependent student whose parent was denied a Parent PLUS loan, are eligible for additional unsubsidized loans:

  • Freshmen and Sophomores: $4,000 additional unsubsidized
  • Juniors and Seniors: $5,000 additional unsubsidized

Loan proration for graduating borrowers (undergraduates only)

If you are a graduating senior and are attending less than three semesters (less than two semesters if you are a 5thyear BELM student), your Stafford loans may be prorated based on the number of credits for which you are enrolled. This means that you may not be eligible to receive your maximum annual loan limit.

The Department of Education requires schools to pro-rate your Stafford loans if you will be graduating from the school in less than an academic year.  .

Loan proration applies only to undergraduate students; it does not apply to graduate or professional students.

Examples for Students Enrolled Full-Time For One Semester

Example of dependent student proration calculation:

  • 12 credits enrolled in each semester
  • 31 academic year credits
  • 12 / 31 x 5500 subsidized loan = $2129
  • 12 credits enrolled in each semester
  • 31 academic year credits
  • 12 / 31 x 2000 unsubsidized loan = $774

Example of independent student proration calculation:

  • 12 credits enrolled in each semester
  • 31 academic year credits
  • 12 / 31 x 5500 subsidized loan = $2019
  • 12 credits enrolled in each semester 
  • 31 academic year credits
  • 12 / 31 x 7000 unsubsidized loan = $2710

Examples for Students Enrolled Full-Time For Two Semesters

Example of dependent student proration calculation:

  • 24 credits total (12 credits enrolled in each semester)
  • 31 academic year credits
  • 24 / 31 x 5500 subsidized loan = $4258
  • 24 credits total (12 credits enrolled in each semester)
  • 31 academic year credits 
  • 24 / 31 x 2000 unsubsidized loan = $774

Example of independent student proration calculation:

  • 24 credits total (12 credits enrolled in each semester)
  • 31 academic year credits
  • 24 / 31 x 5500 subsidized loan = $4258
  • 24 credits total (12 credits enrolled in each semester)
  • 31 academic year credits 
  • 24 / 31 x 7000 unsubsidized loan = $5419

Interest Rates

For 2020 - 2021, the interest rate for both Undergraduate Subsidized and Unsubsidized loans will be 2.75%.  For Graduate/Professional Stafford loans, the interest rate will be 4.30%, and for Federal Parent PLUS and Grad PLUS loans, the interest rate will be 5.30%.


Undergraduate Stafford loans originating on or after October 1, 2020 have an origination fee of 1.057%.  Graduate Stafford loans originating on or after October 1, 2020 have an origination fee of 1.057%. Federal Parent PLUS and Grad PLUS loans originating on or after October 1, 2020 have an origination fee of 4.228%. This fee goes to the government to help reduce the overall cost of the loans. This amount will be subtracted from each loan disbursement.

Repayment & Consolidation

To finance your college education, you may find it necessary to borrow from more than one loan source or lender, resulting in the financial burden of multiple monthly payments. After you graduate or are no longer enrolled at least half-time, you may want to consider consolidating your loans--a process by which an approved agency pays off your existing loans and creates one new loan. In some cases, loan consolidation can be a practical student debt management tool. However, consolidation is not the best option for everyone. Keep in mind that you may lose deferment privileges and pay back more in interest over time.

Loan Consolidation Basics
Federal consolidation loans allow you to reduce your monthly student loan payments by extending your repayment terms and may allow you to obtain a better, fixed interest rate. When you consolidate, your consolidation loan lender pays the outstanding balances on the loans you consolidate. In essence, you refinance your education debts.

Federal Student Loans:
Consolidation is available to most borrowers of federally funded educational loans including:

  •   Federal Direct Stafford Loan (subsidized and unsubsidized)
  •   Federal Perkins Loan  
  •   Federal Direct Parent Plus Loan  (Parent Loan)

Federal consolidation loans have no fees. To qualify for federal loan consolidation, borrowers must:

  • Be in their grace period, or currently repaying their educational loans
  • Not be more than ninety days delinquent on educational loan payments.

For more information contact:
Federal Direct Consolidation Loans Information Center (1-800-557-7392)

Advantages and Disadvantages of Loan Consolidation


  • Offers a fixed interest rate.
  • Reduces monthly payment by extending the loan term.
  • May result in fewer bills to handle.
  • May offer various repayment options available including:
    • Standard Repayment--you pay a fixed amount each month until your loan is paid in full.
    • Extended Repayment--allows you to extend loan repayment over a period of ten to thirty years, depending on your loan amount.
    • Graduated Repayment--allows you to make smaller payments at first, and larger payments later. This is a good strategy for students who cannot make large payments immediately after graduation. Payments start low and increase every few years.
    • Income Contingent Repayment--your monthly payment is based on your yearly income, family size, and loan amount. Your payments rise and fall with your income. After 25 years, any remaining balance on the loan is forgiven, however you may have to pay taxes on the amount forgiven. Payments can never exceed 20% of your discretionary income.

Most consolidation loan programs do not have prepayment penalties. Prepayment on your loan will reduce your overall interest costs by paying the loan off early.


  • You may lose deferment options.
  • You will pay more interest over time due to the extended repayment period (unless you are able to prepay or make additional payments on your loan).
  • You may lose payback benefits from current lenders (i.e., interest rate reductions for submitting on-time payments).
  • For more information contact:Federal Direct Consolidation Loans Information Center (1-800-557-7392)
  • Loan Consolidation Agencies
  • Federal Student Loans:
  • At this time, the most stable consolidation option for federal student loans is through the Federal Direct Loan Program. You may also want to contact your lender or servicer to discuss other repayment options. If you do not know your lender(s), access your federal loan information through the National Student Loan Data System (NSLDS).

Federal Direct Consolidation Loans Information Center (1-800-557-7392)

Private Alternative Student Loans:

  •  Alternative lenders may require you to be in active repayment before you can apply.
  •  Ask private lenders about possible consolidation loan fees or other costs before you apply.
  •  Most lenders do not consolidate federal loans together with private loans.

To determine the interest rate, loan consolidation agencies weight the average of all the loans included in the consolidation, rounded up to the nearest 1/8 of a percent.  Typically, borrowers may prepay all or part of consolidation loans at any time without penalty.

The following are lenders who currently offer alternative consolidation loans. You may also want to contact your private alternative lender, if not listed, to find out if they also offer a consolidation loan. Carefully review the terms and conditions associated with each loan program before you apply. Keep in mind that most lenders do not consolidate private loans together with federal loans. 

For information about consolidating private student loans go to:

The Federal Student Aid Ombudsman of the Department of Education helps resolve disputes and solve other problems with federal student loans. Please do not hesitate to contact them  should you feel they can be of assistance.

  • Online assistance
  • Telephone: 877-557-2575
  • Fax: 606-396-4821
  • Mail:
    FSA Ombudsman Group
    P.O. Box 1843
    Monticello, KY 42633

For more information on consolidation, access the following Web sites:

Direct PLUS Loans

Direct PLUS loans are federal loans available to help fill the gap between your expenses (Cost of Attendance) and your financial aid package. These are available to parents of dependent students (as defined by FAFSA) and students pursuing a graduate degree. For Graduate PLUS loans, the borrower cannot be a parent.

Apply for a Direct PLUS loan

Eligibility - To be eligible, you must file a FAFSA and must not have an adverse credit history.

Interest Rate - Direct PLUS loans have a fixed annual interest rate of 5.30%.

Fees - Origination Fee: 4.228% (This fee goes to the government to help reduce the overall cost of the loans.)

Repayment & Consolidation

Your Graduate Direct PLUS loan will enter repayment on the date of the last disbursement, however, your loan will be deferred as long as you are enrolled at least half-time in your degree-seeking program. During this time, your loan will accrue interest and you can opt to make interest-only payments.

Your Parent Direct PLUS loan has an optional grace period of either:

60 days after the loan is fully disbursed, or 6 months after your student is not enrolled at least half-time

During this time your loan will accrue interest and you can opt to make interest-only payments.

Learn more about repayment and loan consolidation.

National Student Loan Data System (NSLDS)

Students and parents of students are advised that if they enter into a Title IV, HEA loan, the loan data will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

The NSLDS Privacy Impact Assessment may be accessed at:

Additional information regarding the National Student Loan Data System may be accessed at:

Alternative Loans

After exhausting all federal and family resources, some students may need to apply for an alternative student loan to pay for educational expenses Below is a list of lenders offering private educational loans that have been utilized by 2 or more students within the past three years.

This is not a comprehensive list of all the educational loans available to you. You are not required to select one of these lenders. Inclusion on this list is not an endorsement or recommendation by Wentworth Institute of Technology. You are strongly encouraged to exhaust your federal borrowing options if eligible, (Stafford Loans, PLUS loans, and Perkins Loans) before you consider private loans, as the terms and conditions of federal loan programs may be more favorable than the provisions of private education loans. Each lender's loan programs may have different requirements. Be sure to check with your lender regarding the loan programs you qualify for that best suit your needs. All loans, except Federal Stafford loans, are subject to credit approval.  For more information and helpful knowledge on what can determine your credit score, visit the FICO website.

Compare loan options from various lenders

For more information regarding private loans please see the video below: 

Student Requirements for Private Educational Loans

Effective February 14th, 2010, lenders have new requirements for processing and disbursing private education loans. Check with your specific lender regarding their process (i.e. online or paper) for certification and disbursement. For your convenience, we have listed some of the requirements below.

1. Self-Certification Form: Student borrowers are now required to complete a Self-Certification Form for each loan application they submit, and return it to their lender as part of the loan application process. Each lender will likely provide you with a copy of this form; or download the form using the above link. Most lenders recommend that you use the form they provide. All Self-Certification forms should be sent to the student’s specific lender and NOT the Office of Student Financial Services. The Self-Certification form requires you to report your cost of attendance and estimated financial assistance in Section 2. Your cost of attendance and financial assistance can be found on L-connect in Leopardweb. Go to the Financial Aid tab, choose Financial Aid Status and the click on the Award tab.

2. Active Acceptance of Loan: Student borrowers are now required to “actively accept” the terms of their loan approval before their school will be notified that school certification is required. The lender’s terms for how to “accept” the loan terms can be found on the private loan approval disclosure form that they will provide to the borrower.

3. Right to Cancel: Borrowers and/or cosigners have the right to cancel or rescind a loan offer within 3 business days after receipt of Final Disclosure. During this time, the lender cannot disburse loan funds. This cancellation period cannot be waived in order for funds to disburse more quickly. This may cause a delay in the disbursement of loan funds to your student account. Be sure to apply several weeks before funding is needed.

*Any loan changes to alternative loans MUST be submitted in writing via email to the Financial Aid Counselor. Changes that are not requested via email will not be processed.


Loan History

View your federal student loan history. For alternative loan history, please contact your loan provider(s).

Direct Loan Support


Go here to:

  • Complete Entrance Counseling
  • Complete your eMPN (electronic Master Promissory Note)
  • Apply for a PLUS loan

Direct Loan Applicant Services

Contact them about:

  • Assistance filling out eMPNs
  • Appealing a denied credit decision
  • Endorser application questions
  • Verifying if MPN and/or Endorser Addendum was received

Student Service Center

Contact us if you have questions about:

  • Stafford Direct Loan or Wentworth Loan status
  • Alternative loan certification
  • Anything else!

Direct Loan Borrower Services

Contact them about:

  • Repayment
  • Loan deferment
  • Entrance and Exit Counseling

Average Debt

The average amount of debt for students leaving the institution with a degree is $41,429 for undergraduates and $41,393 for Graduate Students.

Default Prevention

We’ve teamed up with Solutions at ECMC to answer all of your student loan repayment questions. Solutions is a service of the non-profit organization ECMC and is dedicated to helping students manage educational loans. Their resources are available to you free of charge. To contact a Solutions Student Loan Repayment Advisor, email or web chat, (hyperlink to our website, or call them at 1-877-331-3262.