How is my loan amount determined?

Students complete a financial need assessment in the application to weigh the costs of tuition and living expenses against income, scholarships, and other funding. Using this information, Zomia works to balance a student’s funding need with a commitment to keep the student’s debt at a reasonable level. A loan amount is proposed to the student and discussed before an agreement is drafted.

Loan amounts are established for a single academic year, with financial need re-assessed before each renewal. Loan amounts are often lower than student requests. This is usually due to concern of the student borrowing more money than they can feasibly repay.