Loan Eligibility

 

Federal Direct Subsidized Loan

What is the maximum loan amount?

Who is eligible?

U.S. citizens or permanent residents demonstrating financial need are eligible for the Federal Direct Subsidized Loan.

How do I apply?

Submit the FAFSA.

What is the interest rate and terms of repayment?

It is a fixed rate and begins 6 months after student leaves school or drops below half time enrollment (6 credit hours).

Federal Direct Unsubsidized Loan

What is the maximum loan amount?

Who is eligible?

Students who have not received the max Federal Direct Subsidized Loan are eligible for the Federal Direct Unsubsidized Loan. Independent students may have additional eligibility.

How do I apply?

Submit the FAFSA.

What is the interest rate and terms of repayment?

It is a fixed rate and begins 6 months after student leaves school or drops below half time enrollment (6 credit hours). Interest accrues while in school.

Federal Parent Loan (PLUS)

What is the maximum loan amount?

The maximum loan amount is the cost of education less aid received.

Who is eligible?

Parents of dependent students are eligible for the Federal Parent Loan (PLUS).

How do I apply?

Submit FAFSA and loan application.

What is the interest rate and terms of repayment?

It is a fixed rate and begins 60 days after entire loan is disbursed or 6 months after student leaves school.

Federal Grad PLUS Loan

What is the maximum loan amount?

The maximum loan amount is the cost of education less aid received.

Who is eligible?

Graduate students are eligible for the Federal Grad PLUS Loan.

How do I apply?

Submit FAFSA and loan application.

What is the interest rate and terms of repayment?

It is a fixed rate and begins 60 days after entire loan is disbursed. In-school deferment options are available.