Under this program, students receive a low interest loan. Dependent students may borrow up to $5,500 for the first year of undergraduate study and up to $6,500 for the second year. Independent students may borrow up to $9,500 for the first year of undergraduate study and up to $10,500 for the second year. Dependency is determined by the U.S. Department of Education via the Free Application for Federal Student Aid (FAFSA). See information and explanation for interest rates for federal loans here.
- Cannot be in default on other student loans.
- Bankruptcy is an issue to discuss with a Financial Aid officer prior to loan approval.
- Must be U.S citizen or eligible non-citizen.
- Have a high school diploma or GED certificate or meet Ability to Benefit requirements.
- Must be enrolled in a minimum of 6 credit hours in a valid program consisting of at least 16 credit hours.
Students with a bachelor's degree are eligible for federal loans.
Follow these steps to obtain a Federal Direct Stafford student loan:
- Complete the FAFSA (see more information about completing the FAFSA).
- Complete and submit any other necessary documents required by the Financial Aid department (verification process).
- Go to www.StudentLoans.gov, select Manage My Direct Loan menu box, and log in with your Federal Student Aid PIN.
- Complete appropriate Master Promissory Note (first-time Direct Loan borrowers only).
If you have previous Federal Family Education Loan (FFEL) and wish to consolidate your loans, go to https://studentloans.gov/myDirectLoan/whatYouNeed.action?page=loanConsol
- Complete appropriate Federal Direct Loan Entrance Counseling (first-time Direct Loan borrowers only; students who have previously completed “Mapping Your Future” are not required to complete entrance loan counseling again).
This non-need-based loan is awarded to the parents of students. Parents may borrow a limited amount not to exceed the estimated cost of attendance minus other financial aid awarded during the period of enrollment. The US Department of Education is the lender for these loans. Direct PLUS loans are based on a credit check.
Borrowers whose Direct PLUS loan credit check is denied based on adverse credit history
- Can secure an approved endorser
- Can successfully appeal on extenuating circumstances
In either of these cases, the applicant will be REQUIRED to complete PLUS Counseling at www.studentloans.gov.
Read more about PLUS loans...