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Institutional Loans

St. John’s College is proud to offer two institutional loans to qualifying students. Each loan is campus specific, meaning that each loan program has different terms and conditions unique to the campus in which the student is attending. Please review the loan types below.

Scofield Loan

(Annapolis Only–Limited Amounts Available)

This is an institutional loan program offered only at the Annapolis campus. Scofield loans are primarily for returning domestic students who need assistance beyond the federal Direct Loan program.

Key points

  • Zero percent interest for current borrowers, three percent for new borrowers.
  • Repayment begins six (6) months after graduation, withdrawal or ceasing to be a half time student.
  • Can be deferred, if you are enrolled at least half-time as a regular student at an eligible accredited institution in the United States, or a comparable institution outside the United States.

REPAYMENT TERMS: Scofield loans are interest-free. Repayment begins six months after the student leaves school and continues for a maximum of ten years. The minimum payment is $25 a month. Payments may be deferred if the student is enrolled at least halftime at a college or university.

Sample Repayment Schedule
Amount financed $3000 or less $4200 $8400 $12,600 $16,800
Monthly payments $25 $35 $70 $105 $140
Number of months (10 years) Varies 120 120 120 120

St. John’s College Loan

(Santa Fe Campus Only)

This is an institutional loan program offered only at the Santa Fe campus. St. John’s College Loans are primarily available to international students, who are not eligible to borrow through the U.S. Department of Education’s Direct Loan Program. Half of the loan is disbursed each semester. Repayment begins six months after graduation and is deferrable only while enrolled at St. John’s College.