Loans 

If you complete the Free Application for Federal Student Aid (FAFSA), you are considered for all of the following loans, grants, and other programs.

Direct Lending 

If you are working on completing the requirements for a new Direct Loan, please log in to studentloans.gov to complete your new loan entrance counseling and new Direct Loan Master Promissory Note (MPN).  If you received an email or a postcard from us, you need to complete these new requirements at this website. 

If you believe you have already completed these requirements, you may log in to studentloans.gov and view your completed MPN's and previously completed loan entrance counseling.  This will let you know if you have completed the requirements or not.

Federal Direct Subsidized Loan

Direct Subsidized Loans are for students with financial need. The financial aid staff will review the results of your Free Application for Federal Student Aid (FAFSA) and determine the amount you can borrow. You are not charged interest while you’re in school at least half-time and during grace periods and deferment periods.

Federal Direct Unsubsidized Loan

You are not required to demonstrate financial need to receive a Direct Unsubsidized Loan. Like subsidized loans, the financial aid staff will determine the amount you can borrow based on the results of your FAFSA. Interest accrues (accumulates) on an unsubsidized loan from the time it’s first paid out. You can pay the interest while you are in school and during grace periods and deferment or forbearance periods, or you can allow it to accrue and be capitalized (that is, added to the principal amount of your loan). If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay because you will be charged interest on a higher principal amount.

PLUS (Loans for Parents)

PLUS loans enable parents with good credit histories to borrow to help pay the education expenses of each child who is an eligible dependent undergraduate student enrolled at least half-time (6 credits).

PLUS loans are not awarded based on need and are considered a last resort type of funding. Before a parent may request a PLUS loan, you must have completed a FAFSA and your financial aid file must be complete as well. To apply, please complete BOTH of the following documents.

• Step 1: Complete the PLUS Master Promissory Note (MPN) form on-line.
• Step 2: Print, complete and return the Federal Direct Parent PLUS Loan Request form.

 Alternative (Private) Loans

On rare occasions, you may look for additional loans on top of Direct loans and PLUS loans.  We always suggest caution in pursuing alternative loans, as these loans are not backed by the Department of Education. 

The lenders who provide these loans may change terms and conditions according to their own policies and procedures, and the interest rates are usually variable and dependent on credit scores. 

Loan Entrance Counseling Session

If you are a loan recipient you must complete a Loan Entrance Counseling Session prior to receiving your first loan disbursement.

For your convenience, the Loan Entrance Session is available anytime via the Internet at Loan Entrance Counseling. 

Once you have completed the online Student Loan Counseling Session, the information will be sent via e-mail to the Financial Aid Office. Your check will be applied to your student account and a refund sent to you via mail within a week if applicable.  

Loan Exit Counseling Session

If you received a loan you must complete a Loan Exit Counseling Session if you drop below half-time enrollment, withdraw, or graduate.

For your convenience, the Loan Exit Session is available at Loan Exit Counseling. You may access this session anytime, anywhere.

Once you have completed the online Exit Loan Counseling Session, the information will be sent via e-mail to the Financial Aid Office. This information will be forwarded to your Guarantee Agency as per Federal Regulations. 

Loan Repayment 

When do I start paying back my student loans?

The repayment will begin Six months after you graduate, leave school, or drop below half-time enrollment for a Federal Stafford Loan (Direct Loan Program^SM or Federal Family Education Loan (FFEL^SM) Program). 

How much time do I have to repay my student loans?

Depending on the types of loans you have and repayment plan you choose, you have from 10 to 25 years to repay your loans. When it comes time to repay, you can pick a repayment plan that’s best suited to your financial situation.  Repayment choices can be viewed on www.studentaid.ed.gov.

How much will I have to repay each month?

Your monthly repayment amount will depend on the type of loan you have, size of your debt, the length of your repayment period, and the repayment plan you choose. You may estimate your payment by using the Repayment Calculators.