Contact your campus financial aid office for information about the steps needed to receive a loan. You will need to be enrolled at least half time, complete entrance counseling and a master promissory note (MPN) at studentaid.gov, and accept your loan offer online through your student financial aid page.
To assure the integrity of the student loan program, ±¬ÁϳԹÏÍø employees agree to uphold the principles outlined in our Financial Aid Code of Conduct (PDF).
Types of loans
William D. Ford Direct Loan Program
Low-interest loans are available through the William D. Ford Direct Loan Program. Under the direct loan program, the funds for your federal loans will come directly from the U.S. Department of Education. Plenty of information can be found on their website using the following links.
Direct subsidized loan
If you demonstrate financial need, you may be eligible for a direct subsidized loan where the U.S. Department of Education covers interest payments until repayment of the loan begins and during any deferment periods.
Direct unsubsidized loan
For students whose does not demonstrate sufficient financial need. This can also be used to supplement a direct subsidized loan. The borrower pays the interest.
PLUS loan
For parents of an eligible dependent undergraduate student. The borrower must be credit worthy or obtain a credit worthy endorser. The parent pays the interest. The is required.
Entrance counseling
After you meet with the financial aid office you need to on the . Completing entrance counseling is NOT an application for a loan. First contact your campus financial aid office for information about the steps needed to request a loan.
Master Promissory Note (MPN)
After you meet with the financial aid office you will need to on the . Completing the MPN is NOT an application for a loan. First contact your campus financial aid office for information about the steps needed to request a loan.
Receiving a loan offer
You will receive a loan offer in the online Student Dashboard in my±¬ÁϳԹÏÍøKC. Student loan offers are only presented to students who express interest in a student loan. Discuss your eligibility with a Student Success Advisor and see if you need a student loan offer created.
Your loan eligibility can change based on the number of credits in which you are enrolled each academic year. If you make adjustments to your schedule before classes begin, may also need to be made to the amount of your loan. Always discuss schedule changes with an advisor.
Refund of excess balance
If you borrow an amount higher than your tuition balance you can receive a refund for the extra funds. Refunds will be released two weeks after the first day of classes at the earliest.
If you are taking classes that do not start at the traditional beginning of the term, your refund will not be released until your classes have started. You must have started attending at least 6 credit hours in the term before you will receive a loan refund.
If you are borrowing student loans for the first time, your refund will be held for an additional 30 days before being released to you.
Exit counseling
Before receiving your last loan disbursement you will need to complete on the .
±¬ÁϳԹÏÍø is required to submit Title IV, HEA student financial aid information to the National Student Loan Data System () for all students and parents of students who borrow at ±¬ÁϳԹÏÍø. The data submitted to NSLDS will be accessible by guaranty agencies, lenders and other institutions determined to be authorized users of the data system. Review your submitted data at the .
Consumer Disclosure
±¬ÁϳԹÏÍø has a Cohort Default Rate (CDR) of 0.0% for 2020. The national CDR for 2020 is 0.0%. This includes students who entered repayment from 10/1/2019 - 9/30/2020 and have defaulted between 10/1/2019-9/30/2022.