Included in Your Financial Aid Award Package

Federal Direct  Loans

There are two types of Federal Direct Loans, Subsidized and Unsubsidized.

Eligibility for the Subsidized Loan is determined by information provided on the FAFSA. The federal government pays the interest on this loan while the student is enrolled at least half-time per semester.

Students receiving an Unsubsidized Loan are responsible for the interest accrued while enrolled. Students can choose to postpone interest payments on an Unsubsidized Stafford Loan until repayment. The deferred interest is capitalized (added to the principal) when repayment begins.

Repayment of Federal Direct  Loans begins six months after the student graduates, withdraws, or drops below half-time.

If you have a Federal Direct  Loan as a part of your Financial Aid Award Package, follow these steps to complete your loan paperwork:

1. Complete Entrance Counseling by clicking here

2. Complete your Master Promissory Note by clicking here


Solutions to Help Cover Your Balance

Federal Direct Parent PLUS Loan

Parents of dependents can apply for a PLUS Loan. This loan is in the parent’s name, with repayment beginning within 60 days of the final financial aid disbursement for the academic year. The PLUS Loan, based on credit approval, has the advantage of a lower interest rate than can be obtained through a personal loan.

Additional Federal Direct Unsubsidized Loan

If a parent is turned down for the Federal Direct Parent PLUS Loan, the student may be eligible for an additional Unsubsidized Loan. Contact your personal Financial Aid Counselor for more information.

Private Education Loans

A private education loan is in the student’s name, with principal payments deferred until six months after leaving college or falling below half-time status. Credit approval is required for this type of loan, and often students need a cosigner.

Contact your personal Financial Aid Counselor for more information.