Federal Direct Loan Program

The FAFSA is required to process any Federal loan. The student's financial aid award will indicate the eligible amount per academic year based on the FAFSA results. All loans are originated and certified by the College's Financial Aid Office with the U.S. Department of Education.

About Direct Loans

  • Two types: Subsidized (interest deferred) and Unsubsidized (interest accrues). Determined by the FAFSA results. 
  • The maximum amount borrowed per academic year is based on academic eligibility. A student who borrows the maximum for four years will accumulate $27,000 of student loan debt.
    • $3,500 subsidized and $2,000 unsubsidized; or $5,500 total for first-year students
    • $4,500 subsidized and $2,000 unsubsidized; or $6,500 total for second-year students
    • $5,500 subsidized and $2,000 unsubsidized; or $7,500 total for juniors and seniors
  • Independent students, as determined by the FAFSA, and dependent students whose parent is denied a Federal PLUS Loan may be eligible for an additional unsubsidized loan per academic year
    • $4,000 for first and second-year students
    • $5,000 for juniors and seniors
  • Student must be degree seeking and enrolled at least half-time (6 credit hours)
  • 4.66% fixed interest rate on all loans beginning July 1, 2014 and a 1.072% origination fee will be deducted by the U.S. Department of Education.
  • Loan Entrance Counseling must be completed prior to disbursement of loan proceeds. Usually completed in the student's first-year.
  • Repayment is not required until six (6) months after student graduates or ceases to be enrolled at least half-time. However, interest on subsidized loans will begin accruing immediately after graduation or below half-time enrollment.

Applying for a Direct Loan

  1. Complete a FAFSA. This must be done annually.
  2. Complete a Master Promissory Note (MPN)
  3. Complete Loan Entrance Counseling

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