Bible icon Business icon Communication icon Education icon Languages icon Fine arts icon History icon International studies icon Nursing icon Social sciences icon Biology & environmental science icon Chemistry icon Criminal justice icon Engineering icon Exercise science icon Forensics icon Bachelor's to master's icon Math & computer science icon Professional preparation icon Undergraduate minors icon Email icon Facebook icon Twitter icon LinkedIn icon Apple icon Calendar icon Diploma icon Piggy bank icon Students icon

Federal Loan Programs

Federal Direct Stafford Loan (Subsidized)**

This is a federal loan program with loan amounts determined by demonstrated financial need and annual or aggregate loan limits. The maximum subsidized Federal Direct Loan is $3,500 for first year students, $4,500 for second year students, $5,500 for third year students, and $5,500 for fourth year students. Entrance Counseling and a completed Master Promissory Note (MPN) are required for all first-time borrowers. These are to be completed at www.studentaid.gov.

Loan repayment of principal normally begins six months after the student graduates, leaves the University or drops below half-time enrollment. Loans are normally repaid within ten years but other loan repayment options are available.

Federal Direct Stafford Loan (Unsubsidized)**

This federal loan program is determined by the student’s estimated Cost of Attendance (COA) minus their estimated financial aid. The amount is determined by grade level and annual or aggregate loan limits. Entrance Counseling and a complete Direct Loan MPN are required from all first-time borrowers. These are to be completed at www.studentaid.gov.

Loan repayment of principal normally begins six months after the student graduates, leaves the University or drops below half-time enrollment. Interest payments are the responsibility of the borrower but can be deferred while the student is enrolled in school. For additional information, please contact the assigned Federal Loan Servicer.

** Any student receiving either a subsidized and/or unsubsidized Direct Loan must complete an Entrance Counseling session which will review the important guidelines and requirements about these federal loan programs. This must be completed before the funds can be disbursed. Students must also complete Federal Loan Exit Counseling after withdrawing, graduating, or dropping below half-time enrollment. This should be completed at www.studentaid.gov

Federal Direct Parent Loan for Undergraduate Students (PLUS)

This federal loan program enables parents of dependent, undergraduate students the ability to borrow loan funds up to the institution’s Cost of Attendance (COA) minus any estimated/expected financial aid assistance/resources. Principal and interest payments normally begin 60 days after the loan is disbursed. The loan approval is based on a credit analysis of the parent(s) which is determined by the USDE. A PLUS MPN and credit check is required from the borrowing parent and must be completed at www.studentaid.gov.

Federal Nursing Loan

This is a federal loan program with awards varying depending on a student’s financial need. Loan funds are usually available to second, third, or fourth year nursing students who demonstrate exceptional financial need. This loan has a 5% interest rate and must be repaid over a ten-year period beginning nine months after graduation or the termination of at least half-time enrollment status in the Nursing program. If awarded, a promissory note must be signed before the loan funds can be disbursed to the student’s account.