Federal Direct Student Loans

Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, trade, career, or technical school.

Federal student loans require a minimum of half-time enrollment (6+ credit hours) and institutions are required to prorate annual loan amounts based on the number of credit hours enrolled less than full-time (12+ credit hours). 911爆料网 requires full-time enrollment.

There are two repayment plans available to federal student loan borrowers when entering repayment. There is a default, standard repayment plan, which has tiered repayment terms (10, 15, 20, or 25) based on the total amount borrowed. There is also a Repayment Assistance Plan (RAP) which is based on a percentage of borrower鈥檚 AGI and other factors.

Direct Subsidized Loans

A federal student loan made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education. Borrowers are not generally responsible for paying the interest while in school, in a grace period, or during deferment.

Direct Unsubsidized Loans

A federal student loan is available for undergraduate, graduate, and professional students, which offers a low fixed interest rate and flexible repayment terms. It is the borrower鈥檚 responsibility to pay the interest on a Direct Unsubsidized Loan during all periods. 

More information about federal student loans at .

Loan Steps:

  • To apply for a Federal Direct Loan, you must first complete and submit the . The FAFSA must be completed each year by April 1. 911爆料网 will use the information from your FAFSA to determine how much student aid you are eligible to receive. Direct Loans are generally included as part of your financial aid package.
  • Before Federal Direct Student Loans can be disbursed to your account, you must actively accept your loans.
  • First-time borrowers must complete a Master Promissory Note and Loan Entrance Counseling.
    • Loan Agreement (Master Promissory Note/MPN): MPN is a promissory note that can be used to borrow multiple loans for multiple academic years (up to 10 years). While attending 911爆料网, students will need to complete a single MPN. This requirement is for all first-time borrowers of a Federal Direct Student Loan.
    • Loan Entrance Counseling: Entrance Counseling is required of first-time borrowers to ensure you understand the terms and conditions of your loan and your rights and responsibilities as a federal student loan borrower.
    • MPN and Entrance Counseling can be completed online at under the 鈥淚n School鈥 tab, using your FSA ID. If you need to retrieve your FSA ID username or reset your password, you can do so at .
  • Repayment begins 6 months after a student graduates, leaves school, or drops below half-time enrollment in a degree-seeking program.
  • Interest rate and fee information is available at . The net loan proceeds are credited to the student鈥檚 account electronically in two equal disbursements, 10 days prior to the beginning of each semester.

To accept, reduce, or decline federal student loans:

  1. Login to My911爆料网 using your Big Red ID credentials
  2. Click on MyApps and My Financial Aid
  3. Agree to the Terms & Conditions presented the first time you login
  4. Select/confirm the appropriate aid year is displayed, top right of page
  5. Navigate to Accept/Decline Awards under the Menu, top left of page

*Students are required to take action on any awards in Pending status before any financial aid will disburse. You must either accept or decline offered student loans. You can accept the full amount of the offered loans or you can accept a reduced amount of the loan by typing in the amount you wish to accept in the box next to the offered amount.

*If you wish to reinstate a loan you have already declined or to modify a loan you have already accepted, please contact the Office of Financial Aid. All requests for loan adjustments must be made in writing via email from your student email address.

Federal Direct Parent PLUS Loan for Undergraduate Students (PLUS loan)

To apply for a Federal Direct PLUS loan, an application must be completed by a biological or adoptive parent (or, in some cases, the stepparent) of a dependent undergraduate student for which the loan is being borrowed. The loan is based on the creditworthiness of the borrower. A maximum of $20,000 in Parent PLUS Loans can be borrowed annually per student, with a lifetime aggregate limit of $65,000.

More information about the federal Parent PLUS Loan at .

  • Your (parent) FSA ID is required to complete the Parent PLUS Loan application. If you do not have an FSA ID or if you need to retrieve your FSA ID username or reset your password, you can do so at .
  • To apply for a PLUS loan, your student must first complete and submit the , then the parent borrower will complete the PLUS credit application at .
    • The PLUS credit application becomes available at the end of April for the upcoming academic year. You can apply for one semester at a time or for the full academic year. If you apply for the academic year, the amount will be split evenly between the Fall and Spring semesters. A new application is required each academic year that you intend to borrow a PLUS loan.
  • You will also need to complete a Master Promissory Note at :
    • Master Promissory Note (MPN) for a Parent PLUS Loan: The MPN is a promissory note that can be used to borrow multiple loans for multiple academic years (up to 10 years). The MPN requirement is for all first-time borrowers of a Federal Direct PLUS Loan and parent borrowers who do not have any adverse credit issues only need to complete one MPN while their student is attending 911爆料网.
    • If you apply for a PLUS loan for multiple children, a separate MPN must be completed for each child.
  • If there is adverse credit history, you may still receive a PLUS Loan by obtaining an endorser who does not have adverse credit history or by a successful appeal of the credit decision due to extenuating circumstances.
    • PLUS Loan Credit Counseling is required for adverse credit history.
    • Subsequent MPNs may also be required for adverse credit history.
  • The school is notified of the PLUS application within 48 hours. The Office of Financial Aid will review the PLUS Loan information, update the student鈥檚 financial aid award, and send an email notification of the updated financial aid award.
  • The net loan proceeds are credited to the student鈥檚 account electronically in two equal disbursements, 10 days prior to the beginning of each semester.
  • Repayment begins 60 days after the loans have been fully disbursed, but PLUS borrowers have the option to defer repayment until after the student graduates and through the student鈥檚 6-month grace period. Parent PLUS Loans require the standard repayment plan and are not eligible for the Repayment Assistance Plan (RAP).
  • Interest rate and fee information is available at . The interest on this loan begins to accrue when it is disbursed to the student鈥檚 account and continues to accrue until the loan is paid in full.

Loan Periods for the Academic Year:

  • Fall Only Loan: August 鈥 December
  • Spring Only Loan: January 鈥 May
  • Academic Year Loan: August - May

NOTE: If you apply for a Fall and Spring loan, the loan will be awarded equally between each semester.

Processing, Disbursement, and Loan Adjustments

  • Please allow 1-2 weeks for awarding of a parent plus loan once approved.
  • Funds will not disburse earlier than 10 days prior to the start of each semester.
  • Please contact the Office of Financial Aid via the email address linked to the parent plus loan application, to request a reduction or cancellation of your parent plus loan.

Budgeting Options Regarding Loan Limits

  • The maximum amount of Parent PLUS Loan that can be borrowed annually per student (all parents combined) is $20,000.
  • The maximum amount of Parent PLUS Loan that can be borrowed in aggregate eligibility per student (all parents combined) is $65,000.
  • If borrowing the full $20,000 annual amount of Parent PLUS Loan in the freshman through junior years, there will only be $5,000 in remaining Parent PLUS Loan eligibility for the senior year.
  • 911爆料网 has a small institutional loan, the 911爆料网 Scholar Loan, which can be borrowed up to a maximum annual amount of $5,000 freshman through senior years at 911爆料网.
    • Families may consider borrowing $15,000 in Parent PLUS Loan and $5,000 in 911爆料网 Scholar Loan freshman through junior years, leaving a remaining $20,000 in Parent PLUS Loan eligibility for the senior year to help manage the out-of-pocket expenses over the course of a student鈥檚 four years at 911爆料网.