Grants & Loans

Grants are provided by the government based on need and do not have to be repaid. Loans for educational purposes, like the ones listed below, require repayment at low interest rates. Your Harrison financial aid analyst will help you determine which best fit your situation and can help you apply for them.


Grants are offered by both the federal/national and state governments.

Federal Pell Grant

This is a federal student aid program that does not require repayment. Awards are based on enrollment status and financial need. Yearly amounts may vary based on federal appropriations. Students must file a FAFSA (Free Application for Federal Student Aid) to apply for a Federal Pell Grant.

Federal Supplemental Educational Opportunity Grant (FSEOG)

This program is for students who demonstrate exceptional financial need, and repayment is not required.

Indiana Frank O'Bannon Grant

Formerly called the Indiana Higher Education Award Grant, this program is for Indiana residents only. Interested students must submit a FAFSA by March 10 and establish continuous Indiana residency by December of the prior calendar year.

21st Century Scholars Program

If you applied for the 21st Century Scholars Program in seventh or eighth grade, you can now take advantage of it for tuition assistance. Interested students must be Indiana residents and must submit a FAFSA by March 10 of each year for continued participation.

Institutional Loan

The Harrison Institutional Loan program is available for students that have been grandfathered into this program who still have a financial need after all title IV and alternative funding options have been exhausted. To be eligible students must maintain continuous and uninterrupted full-time enrollment each term and can receive up to $6,000 or $9,000 in an academic year depending on their program of study.


Federal Loans

Federal Subsidized Direct Stafford Loans

The Subsidized Direct Stafford Loans are part of a program that provides low-interest loans to qualifying students enrolled in Harrison at least half time. Loan amounts vary according to financial need and grade level. The government makes interest payments while the student is enrolled at least half time including six months after school. After that the student must repay the loan.

Federal Unsubsidized Direct Stafford Loans

The Unsubsidized Direct Stafford Loans are part of a program that provides low-interest loans to qualifying students enrolled in Harrison at least half time. This is a loan program and must be repaid. This loan may be used in conjunction with the Federal Subsidized Stafford Loan (see above). Interest payments are the responsibility of the student while he/she attends school but can be deferred until after graduation if the student chooses.

Federal Direct PLUS Loans

Federal Direct PLUS loans are for parents of dependent students who wish to borrow funds to help pay for their children's education. This is a loan and requires repayment.


Credit-based Loans

Here is a neutral, comprehensive list of private education lenders that have made loans to our students over the past several years. You, as a borrower, are not required to choose any lenders from the list that has been provided. You should also apply for federal education loans through the Direct Loan program and exhaust those loans prior to applying for any private education loans, as many times, those loans carry more favorable terms and conditions for a student.

Self-Certification Form

Federal government regulations require that lenders of private education loans must obtain a self-certification form completed and signed by the applicant prior to disbursing the loan proceeds. The purpose of this form is to inform the applicant that:

Other federal, state, or school aid may be available that offers better terms and conditions in place of, or in addition to, a private education loan;
A private education loan may reduce eligibility for other student aid; and
Information required to complete the form, specifically cost of attendance and estimated financial assistance, can be obtained from the college financial aid office.

Please contact a Harrison College financial aid representative from your campus if you have any questions about the process for submitting this form. If you do not submit a completed and signed Self-Certification Form to your lender, your loan will not be disbursed.

Download the Self-Certification form, which must be completed in order to receive any type of credit-based loan.

Bank of Lake Mills Loan

This program is a private lending option that is credit based.  This option is only available if there is still a financial need once all Title IV funding has been exhausted. While in school students must at least make monthly interest payments in order to be eligible for this loan program, but may elect to make interest and principal payments. The student must borrow a minimum of $1500 per loan note in order to utilize this program.

Sallie Mae Smart Option Student Loan

The Sallie Mae Smart Option Student Loan is an ideal solution for students who still need funds after they have maximized free money and federal loans. With this loan, students can borrow up to the full cost of their education, less other aid received. The Smart Option Student Loan helps students save money, build good credit, and pay off their student loan faster.

  • Website:
  • Servicer: Sallie Mae
  • Origination Fee: None
  • ACH Payment: 0.25 percentage point interest rate reduction while enrolled in auto debit
  • Interest Rate: Rates from LIBOR + 2.00% (2.25% APR) to LIBOR + 9.88% (9.37% APR) based on credit and repayment option chosen
  • Repayment: Choose the repayment option that works for you while you are in school - defer all payments, pay just $25 a month, or pay interest
    • Full principal and interest payments begin six months after you leave school for all repayment plans
    • No prepayment penalty, regardless of the repayment plan you choose

PNC Solution Loan

Sometimes Federal Loans don't cover all the costs of your education, the PNC Solution can help fill in the financial gap.

  • Website:
  • Servicer: PNC Bank
  • Origination Fee: None
  • ACH Payment: Get 0.50% off your rate with automated payments from your checking or savings account
  • Interest Rate: The variable interest rate is based upon the LIBOR index plus a margin of 3.30% to 11% based on creditworthiness, and is adjusted quarterly.
  • Repayment:
    • Defer payments until 6 months after you graduate or leave school
    • Take up to 15 years to repay
    • Payments may begin immediately to save on interest expense or can be deferred while enrolled at least half time