Federal loans

A type of financial aid, loans are borrowed money that must be repaid. Lenders charge interest on the borrowed amount for its use.

The Department of Education's federal Direct Loan Program offers loans for completing the FAFSA.

You may accept less than the offered amount. Only borrow what you need.

Federal Direct Subsidized Loan

Borrowers must:

  • Be an undergraduate
  • Complete the FAFSA
  • Demonstrate financial need based on their Expected Family Contribution (EFC)
  • Be enrolled at least half-time in a degree or an eligible certificate program
  • If a first time borrower: submit Federal Direct Loan Entrance Counseling and a Master Promissory Note for Subsidized/Unsubsidized Loans online
  • Complete Federal Direct Loan Exit Counseling online after graduating, withdrawing, or dropping beneath half-time enrollment

Loan Amounts are based on earned academic credits:

  • 29 or fewer credits: $3,500
  • 30-59 credits: $4,500
  • 60 or more credits: $5,500

More information

Federal Direct Unsubsidized Loan

Borrowers must:

  • Complete the FAFSA
  • Be enrolled at least half-time in a degree or an eligible certificate program
  • If a first time borrower: submit Federal Direct Loan Entrance Counseling and a Master Promissory Note for Subsidized/Unsubsidized Loans online
  • Complete Federal Direct Loan Exit Counseling online after graduating, withdrawing or dropping beneath half-time enrollment

Loan Amounts are based on earned academic credits and dependency status.

Dependent students: $2,000

Independent students:

  • 29 or fewer credits: $6,000
  • 30-59 credits: $6,000
  • 60 or more credits: $7,000

Parent borrowers denied a Federal Direct Parent PLUS Loan may help their dependent student qualify for an additional Federal Direct Unsubsidized Loan of $4,000 for lower-level students and $5,000 for upper-level students.

More information

Federal Direct Parent PLUS Loan

Dependent students must:

  • Complete the FAFSA
  • Be enrolled at least half-time in a degree or an eligible certificate program

Parent borrowers must:

  • Be either the student's biological or adoptive parent
  • Complete a Direct PLUS Loan Application for Parents
  • If a first time borrower: submit a PLUS Master Promissory Note for Parents online

Parents may borrow up to their students' cost of attendance per award year.

Interest accrues immediately after the first disbursement. Repayment begins 45-60 days after the second disbursement. Deferred repayment options are available.

More information

Federal Direct Graduate PLUS Loan

Borrowers must:

  • Be a graduate/professional student
  • Complete the FAFSA
  • Be enrolled at least half-time in a degree or eligible certificate program
  • Complete a Direct PLUS Loan Application for Graduate/Professional Students
  • If a first-time borrower: submit Federal Direct Loan Entrance Counseling and a PLUS Master Promissory Note for Graduate/Professional Students
  • Complete Exit Counseling online after graduating, withdrawing, or dropping beneath half-time enrollment

Interest accrues immediately after the first disbursement. Repayment begins 45-60 days after the second disbursement. Deferred repayment options are available.

More information

Federal loan repayment

You may consider a Federal Direct Consolidation Loan, or signing up for income-driven repayment plans, to restructure your student loan debt. Income-driven repayment plans are designed to make your student loan debt more manageable by reducing your monthly payment amount.

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