Loans

The Federal Direct PLUS Loan may be used to supplement other financial aid programs. Parents of dependent undergraduates are eligible to apply for this loan each academic year at a variable interest rate. Eligibility is based on credit worthiness. Students must follow the financial aid application procedures. Contact the Office of Financial Aid for details on this loan.

The Federal Direct Subsidized Loan is for students enrolled in a degree program on at least a half-time basis; it enables them to borrow an annual amount based on their grade level and length of program. The federal government will pay the interest until the repayment period begins, six months after the student leaves school. The Office of Financial Aid provides information on obtaining this loan with award letter notification. Students must complete the financial aid application process and demonstrate need in order to qualify. Students who plan to pay tuition through a Federal Direct Subsidized Loan should apply for this loan in time for it to be processed before registration.

The Federal Direct Unsubsidized Loan is available to students who do not demonstrate need. The terms are the same as those for the Federal Direct Subsidized Loan except that the student is responsible for the interest while in school.