LOAN CONSO L I DAT I ON
Loan consolidation is a process that allows all loans of a specific type to be combined into a single loan.
Consolidation is available for federal direct student loans and federal gradPLUS loans. Private educational loans
can also be consolidated, but federal and private loans cannot be consolidated into a single loan. Additionally,
parents can consolidate direct PLUS loans. To learn more about federal loan consolidation, including specific
To obtain information about private loan consolidation, contact the HSU Financial Aid Office.
S t uden t Deb t
Hardin-Simmons University considers student borrowing an area requiring careful scrutiny by its students and
the Financial Aid Office. As a Christian institution, HSU encourages an ethical, responsible approach to debt as
an option to meet the financial requirements of obtaining a degree; not an entitlement nor a means to spending
outside of educational expenses. Educational expenses include tuition, fees, books/supplies, room/board,
transportation, and personal living expenses.
Student loans are a necessary resource for many students attending college. HSU recognizes that such debt can
be deemed an investment toward future success and fulfillment in life. However, irresponsible use of student
loans and their repayment can have serious repercussions in later life, especially qualification for other forms of
credit such as home or automobile financing.
Federal student aid statutes dictate that students must demonstrate satisfactory academic progress toward a
degree to be eligible for financial aid. Borrowing funds to pay for educational expenses should be kept to an
absolute minimum. When a student withdraws or drops classes, loan funds are paying for classes for which the
student receives no credit. While unusual situations may warrant class drops or withdrawal, HSU considers this
an unwise use of debt financing. Students with multiple withdrawals and/or excessive class drops will be reviewed
for satisfactory progress toward a degree and may lose eligibility for student aid. Standards for satisfactory
academic progress and information on how changes in enrollment affect financial aid may be found in this