St. Cloud State University
Types of Financial Aid - Federal
Direct Loan
Beginning in fall 2009, St. Cloud State University will participate in the William D. Ford Federal Direct Loan Program. The Direct Loan Program is a guaranteed student loan, which may be subsidized, unsubsidized, or both. Until summer 2009, St. Cloud State University (SCSU) participated in the Federal Family Education Loan (FFEL) Program in which students selected a lender.
Under the federal Direct Loan program students will apply for and receive their loan funds directly from the U.S. Department of Education rather than through a private lender. All students borrowing a federal Direct Loan for 2009-2010 must complete a new Master Promissory Note (MPN).
- Interest Rates and Loan Limits
- Apply for Your Loan
- Loan Counseling
- Loan Proration
- Loan Repayment and Loan Forgiveness
Information on the federal Direct Loan program is available at www.direct.ed.gov/student.html. A list of Frequently Asked Questions is available at www.stcloudstate.edu/financialaid/documents/DirectLendingFAQ_000.pdf
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St. Cloud State University is an affirmative action/equal opportunity educator and employer.
St. Cloud State University is a member of the Minnesota State Colleges and Universities system.
