Loans

Direct Subsidized Loans are awarded to 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.
Loan Terms

• No interest accumulates on the Subsidized Loan while the student is attending at least half time.

• If the student drops below half time status, the grace period begins.

• All loans have an origination fee.

• Repayment begins after the end of the grace period.

• There is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans. For more information, please see the Federal Direct Subsidized Loan Limit guidance.

For more information, visit studentaid.ed.gov.

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 on an Unsubsidized Loan from the date of disbursement.

Loan Terms

• Interest begins accumulating on the Unsubsidized Loan when the funds are disbursed to the student.

• If the student drops below half time status, the grace period begins.

• All loans have an origination fee.

• Payments can be made on the Unsubsidized Loan at any time.

• Repayment begins after the end of the grace period.

For more information, visit studentaid.ed.gov.

Direct Loan Borrower Annual and Aggregate Loan Limits

You may access your total outstanding loan balance and view your Loan Servicer contact information via the National Student Loan Data System (NSLDS).

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).

Your child must be a dependent student who is enrolled at least half-time and making Satisfactory Academic Progress (SAP). In addition, parents and their child must be U.S. citizens or eligible noncitizens with a domestic address. PLUS Loans are not processed until the student's financial aid has been awarded.

To be eligible for a PLUS Loan, the parent must pass a credit check that indicates they do not have adverse credit history. For the PLUS loan, adverse credit history is defined as being 90 or more days delinquent on any debt or having any debt within the past five years subjected to default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off.

To apply, please complete the following documents:

Step 1: Complete the PLUS Master Promissory Note (MPN) online, AND

Step 2: Print, complete and return the Federal Direct Parent PLUS Loan Request.​

If a parent is denied a PLUS loan, the Financial Aid Office will proceed based on the parent's preference as indicated on the PLUS Loan Request. Parents may find a co-signer or the student may borrow additional Unsubsidized Loan based on annual loan limits.

Alternative loans are used to help bridge the gap between the cost of your education and the amount available from federal and state grants and loans. Alternative loans typically carry higher interest rates and fees than federal loans. The loan programs differ, so it is important that you know the terms and conditions of the loan, as well as, your rights and responsibilities as a borrower.

It is recommended that students borrow wisely. Before you look at alternative loans, please make sure that you have exhausted all possible federal and state financial aid funds available. Our office strongly recommends that students file the Free Application for Federal Student Aid (FAFSA) before applying for private loans.

Alternative loans for the next academic year will not be processed prior to August. Most lenders require a credit check which is only valid for 90 days. Please keep this in mind when applying for alternative loans.

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