Knox Hall on Bloomfield campus

Loans and Work Study

Self Help financial aid refers to loan programs, as well as work study. Self-help aid options allow you to borrow or work to help cover your remaining educational expenses. The loans must be repaid to the lender, usually after a grace period of 6 months. Work study is paid to students as a paycheck for work completed, and do not need to be repaid.

Federal Direct Loans (William D. Ford Direct Loan Program)

There are two student loan programs, and one parent loan program offered by the U.S. Department of Education. These loans do not require payment while enrolled in a degree-seeking program and enrolled at least half-time. Students can make payments on the principal and/or interest while in school without pre-payment penalty. We recommend students borrow responsibly, and we can help determine how much loan assistance may be required for enrollment at Bloomfield College.

Federal Subsidized Loan
This a need based loan, whereby the government pays the interest on the loan while the student is in school. Students qualify for this loan by filing a FAFSA and meeting the federal eligibility guidelines. Eligibility for the loan is determined by the Cost of Attendance less other Free Financial Aid on the award letter. (COA-EFC-Free Financial Aid = Subsidized Loan Eligibility)

Federal Unsubsidized Loan
This is a non-need based loan, that all students can qualify for upon completion of the FAFSA and meeting the federal eligibility guidelines. Interest does accrue during enrollment in college at a rate of 4.66%, which is capitalized at the time of repayment.

Federal Direct PLUS Loan (Parent Loan for Undergraduate Students)
Parents of dependent students are eligible to apply for a Direct PLUS Loan to help pay college expenses. A parent may borrow the difference between the Cost of Attendance and all other student aid received by the student.

Please note:

  • The Direct PLUS is made through The U.S. Department of Education and a credit check will be performed during the application process.
  • If the PLUS loan is denied, the student may be eligible for an additional $4,000 of unsubsidized Direct Loan.
  • Parent borrower can opt to defer repayment in the application process. If the parent borrower chooses this option, repayment of principal and interest begins six months after the student graduates or drops below half-time
  • You may apply to receive a Federal PLUS Loan after the FAFSA and PLUS Master Promissory Note have been completed.
  • Parent must not be in default of any loan or owe a refund to any Federal Student Assistance program
  • Bloomfield College requires you to submit the PLUS loan application on

Federal Work Study (FWS)

Federal work is awarded to those with financial need and who filed their FAFSA before our priority deadline. The work study program allows to students to work on or off campus, and earn wages that will be paid to them in the form of a paycheck. Students must apply, interview, and be selected for the posted positions. More information on available jobs openings can be found through Career Development.