The amount a student is eligible to borrow is determined by grade level and cost of attendance. There is no credit check. Additional eligibility requires enrollment in at least 6 credit hours per semester (half-time).
||Dependent Student Loan Amount
||Independent Student/Dependent with PLUS Denial (Must Apply Yearly)
||up to $20,500 annually
Federal student loans go into repayment six months after the student has graduated, dropped below half-time enrollment, or withdrawn from the university.
2018-2019: Subsidized and Unsubsidized Student loans for Undergraduates have a 5.05% interest rate during repayment.
Interest rates are set every July 1st for the following year. An origination fee is deducted from the amount borrowed before the money is sent to the school.
Vocational Nursing students are awarded as a certificate/first year programs at freshmen loan levels.
Upon receipt of the appropriate application materials, the Financial Aid Office will determine your eligibility and originate your loan. If you have previously borrowed a Direct Loan and signed a Master Promissory Note, then you will not need to sign another Note. You will use your FAFSA PIN to sign into studentloans.gov
New borrowers must sign a Master Promissory Note. First time borrowers must also complete Loan Entrance Counseling. Both may be completed at studentloans.gov
Beginning July 1, 2013, a new borrower may receive Federal Direct Subsidized loans for up to 150 percent of the published length of the borrower’s educational program. Should a borrower exceed this period, he or she is no longer eligible for Federal Direct Subsidized Loans. The borrower also becomes responsible for accruing interest during all periods as of the date the borrower exceeds the 150 percent limit.
The Standard Repayment Plan allows for a repayment period of 10 years. Alternative repayment plans allowing for a longer repayment period are available.