Loans

Semester at Sea offers an experience that promises to profoundly benefit participants on many levels. Just like with other items and experiences of value, loans can be useful in helping to assemble the funding necessary to make Semester at Sea a reality.

The following loans may or may not be part of your financial aid award at your home school.

Federal Stafford Subsidized & Unsubsidized Loans

You are eligible to borrow under the federal Stafford Loan program if you have filed a FAFSA for the current academic year. Check with your school's financial aid office about whether your Stafford Loan eligibility can be applied to Semester at Sea.

Federal Perkins Loan

The Federal Perkins Loan Program provides long-term, low interest loans to students with exceptional financial need. Under the program, loans are awarded through your school's financial aid office. The school acts as the lender, and the loan is funded by both the government and the university. Check with your school's financial aid office about whether your Perkins Loan eligibility can be applied to Semester at Sea.

The Parent PLUS Loan

The Federal Plus Loan for parents is an excellent option to assist in financing a college education. It is available to parents, legal guardians, and step-parents of dependent, undergraduate students. Generally, you can borrow up to the Cost of Attendance minus any other financial aid the student is receiving. Check with your school's financial aid office about whether they will process a PLUS Loan for Semester at Sea.

Alternative Loans

What is an Alternative Loan? A private loan is designed primarily to help students with educational expenses that exceed other available assistance (such as scholarships, grants, and Federal Direct Stafford Loans). In other words, alternative loans were designed to bridge the gap between college costs and traditional financial aid resources. Alternative loans cannot exceed the cost of attendance minus other financial aid.

We encourage students to be active self-advocates with their school officials, meeting with their school's study abroad office and financial aid office. We are also happy to help provide information and direction on matters of financial aid, so please contact us by [This e-mail address is being protected from spam bots; you need JavaScript enabled to view it] or at 1-800-854-0195.