These are loans offered by the federal government. The lender is the U.S. Department of Education rather than a bank or credit union. Learn more about federal loans on . Recipients of federal loans must meet the following criteria:
The following are requirements of the Department of Education that must be completed before the first disbursement of your federal loans.
鈥The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s).
Is a tool to help students understand what it means to take out federal student loans.
If you are required to complete these documents, you will find them listed in your and will be on 鈥渘ot received鈥 status until completed.
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The subsidized loan is awarded to undergraduate students demonstrating a financial need as determined by the federal processor as a result of your FAFSA. Your loan eligibility is also based on your academic level. Interest on this loan is subsidized (you are not charged interest) by the federal government while you are enrolled at least half-time or during authorized periods of deferments. You enter the repayment period six months after you graduate or stop attending at least half-time.
To apply: Complete the 鈥淔ree Application for Federal Student Aid鈥 (FAFSA) Studentaid.gov. The鈥2024-2025 application鈥痠s expected to be available on December 31st. Our鈥痵chool鈥痗ode鈥痠s鈥039413.
Unlike the Subsidized loan, this loan is not need based. It is available to both undergraduate and graduate students. on this loan is not subsidized by the government. You can choose to pay the interest while you are enrolled, or it will accrue and be added to the principal of the loan that you owe. You begin repayment six months after you graduate or stop attending at least half-time
To apply: Complete the 鈥淔ree Application for Federal Student Aid鈥 (FAFSA) . The鈥2024-2025 application鈥痠s expected to be available on December 31st. Our鈥痵chool鈥痗ode鈥痠s鈥039413.
Parents of dependent students may borrow an additional Interest-bearing loan through the Federal Direct PLUS Loan program. The borrower must be a natural parent, adoptive parent, or stepparent of the dependent student. Parents may borrow any amount up to the cost of education minus any other financial aid their son or daughter may receive. Eligibility will be based upon a satisfactory credit check. Loans are not automatically renewed. Parents must reapply annually. The financial aid department receives notification of the application results from the Central Processing System daily. If approved the loan will be added to the student鈥檚 current financial aid package.
To Apply: Complete the application on Studentaid.gov. Parents must log in with their FSA (Federal Student Aid) ID (FAFSA ID). In addition, students must have completed a FAFSA. Our school code is 039413.
Graduate students are eligible to borrow this -bearing under the PLUS loan program up to their cost of attendance minus other estimated financial assistance. Eligibility will be based upon a satisfactory credit check. Loans are not automatically renewed. Students must reapply annually. The financial aid department receives notification of the application results from the Central Processing System daily. If approved the loan will be added to the student鈥檚 current financial aid package.
To Apply: Complete the application on . In addition, students must have completed a FAFSA. Our school code is 039413.
Private or Alternative loans are non-federal educational loans available from a variety of national lending institutions. An alternative or private loan is typically a loan in the student鈥檚 name; however, these loans generally require the signature of a credit-worthy co-signer. Parents may also borrow. Amounts vary up to the student鈥檚 cost of attendance.
To assist you in your search you may use the tool. FASTChoice helps you request the loan you determine is right for you by providing detailed information for various loans, as well as the terms and benefits offered by different lenders.
The lender list in FASTChoice is in no way exclusive or exhaustive of all existing lenders. We will honor requests to certify alternative educational loans from any lender, even those that do not appear on the list.
