Student Registration & Financial Services

Direct Loans

The William D. Ford Federal Direct Loan Program is a guaranteed federal student loan, which may be subsidized, unsubsidized, or a combination of both subsidized and unsubsidized. Under the Federal Direct Loan Program, you (the student) will apply for and receive your loan funds directly from the U.S. Department of Education, not through a private lender or bank. Interest rates differ depending on whether you are an undergraduate or graduate/professional student and the time frame that you borrow the loan. The federal government sets interest rates for the Direct Loan each July 1st for the upcoming academic year. The Direct Loan has a loan origination fee that is deducted from each loan disbursement you receive. See the chart for origination fee amounts.

New borrowers under the federal Direct Loan program must complete loan entrance counseling and a Master Promissory Note (MPN). Once your financial aid application is complete, we will prepare and notify you of your official award notification. When you are notified (by email) to Review and Respond to Award Notification, you may then apply for your federal Direct Loan. All students must request their loan amount through e-Services which requires the student's Star ID and password to login.

If you are borrowing a loan that accrues interest while you are in school, we highly encourage you to make interest payments while you are in school in order to avoid capitalization of the interest (adding interest to the principal amount of the loan).

Loan Limits and Loan Proration

Grace Period and Loan Servicer

Exit Counseling, Repayment and Forgiveness

Additional Resources

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