Loans
Secure the support you need for a successful college journey with loans from YHC.
Spread out tuition costs
Loans are sources of funding that allow students to spread the cost of their education over time.
Loans MUST BE REPAID even if a student does not complete their education. Students apply for low-interest Federal Direct Loans by completing the Free Application for Federal Student Aid (FAFSA) and must be enrolled at least half-time (6 credit hours) to qualify. For more information about Federal student loans, visit StudentAid.gov.
Types of Loans
Federal Loans
Federal Direct Subsidized Loan
This is a low-interest loan offered by the federal government. Students must demonstrate financial need as determined by information provided on the FAFSA to be eligible. Interest does not accrue on this loan as long as the student is continuously enrolled at least half-time. Further information can be found at StudentAid.gov.
Federal Direct Unsubsidized Loan
This is a low-interest loan offered by the federal government. Students do not need to demonstrate financial need to be eligible. The interest on this loan will begin to accrue once the loan funds are received by the College. Further information can be found at StudentAid.gov.
Private Loans
Credit-based Loans
Credit-based private student loans are accepted at YHC. These credit-based loans are obtained by the student and/or parent and may require a co-signer. Please understand that we cannot recommend outside lenders. You may begin your search online for private loans, or you may contact your personal banking institution to see if they participate in private loans for college.
Federal Loan Requirements
Entrance Counseling
First-time federal loan borrowers must complete Entrance Counseling before the College can receive any loan funds on the student’s behalf. Entrance Counseling is an online tutorial that helps students understand the terms and conditions of their loan, as well as their rights and responsibilities. Students will learn what a loan is, how interest works, their repayment options and how to avoid delinquency and default. Entrance Counseling is completed online at StudentAid.gov.
Master Promissory Note (MPN)
First-time student borrowers must complete an MPN before the College can receive any loan funds on the student’s behalf. First-time parent borrowers must also complete an MPN before the College can receive any loan funds on the parent’s behalf. The MPN is a legal document in which the student and/or parent promise to repay the loan(s) they have received, as well as any accrued interest and fees. The MPN is completed online at StudentAid.gov.
Exit Counseling
Exit counseling must be completed when a student leaves the College or drops below half-time enrollment. Exit Counseling provides important information to help students understand their loan obligations and be prepared to repay their loan(s). Counseling is completed online at StudentAid.gov. Students will receive an email from the Office of Financial Assistance office notifying them it is time to complete Exit Counseling, but it is the student’s responsibility to be sure the counseling is completed.
IMPORTANT NOTE: Student transcripts will not be released and access to other services may be revoked until Exit Counseling is complete.
Additional types of aid
Scholarships
Scholarships, which can be need- or merit-based, are awarded in recognition of special skills, talent, or academic ability.
Grants
Grants, which do not need to be repaid, help cover part of the cost of your education. They are typically based on financial need.
Work-study
Student work-study positions are available based on financial need. They can also support your career goals.
