A student who
accepts loans on their award notification will need to complete additional
steps in order to receive their loan disbursement(s). The Federal Direct Loan
application for students should be submitted on line as soon as you accept your
loans. If the Federal Direct Graduate PLUS was recommended on your award
letter, you may apply for this loan after July 1. You may increase the amount
of the loan recommended on the award letter, but it cannot exceed the student
cost of attendance.
Federal Unsubsidized Loan
- Non-need based loan
- Interest begins as soon as the loan is
- The student may choose to make payments on the
interest only while they are in school or choose to have the interest
- Fixed interest rate of 6.8%
- Origination 1% fee and 0.5% up-front interest
- Repayment on the principal begins six months
after completing program of study or dropping below six credit hours
Federal Graduate PLUS Loan Program
- Repayment on the principal and interest begins
as soon as the loan is disbursed.
- Fixed interest rate of 7.9%
- Origination 4% fee with 1.5% up-front interest
- The student must pass a credit check to
qualify for a PLUS Loan.
- Maximum amount that may be borrowed is the
student's cost of attendance less other estimated financial aid.
Visit www.studentloans.gov to learn more about the Federal Direct Loan Programs.
The following steps must be completed to receive your Direct
- Complete the loan entrance counseling
- Complete the master promissory note for direct
PLUS Loan Program for Parents and Graduate Students
- Graduate students complete the PLUS
application for credit
- Graduate students need to complete the Loan
entrance counseling for the PLUS loan
- Graduate students with approved credit need to
complete the master promissory note