Direct Subsidized Loans—Direct Subsidized Loans are for students with financial need. Your school will review the results of your Free Application for Federal Student Aid (FAFSA) and determine the amount you can borrow. You are not charged interest while you’re in school at least half-time and during grace periods and deferment periods.
Direct Unsubsidized Loans—You are not required to demonstrate financial need to receive a Direct Unsubsidized Loan. Like subsidized loans, your school will determine the amount you can borrow. Interest accrues (accumulates) on an unsubsidized loan from the time it’s first paid out. You can pay the interest while you are in school and during grace periods and deferment or forbearance periods, or you can allow it to accrue and be capitalized (that is, added to the principal amount of your loan). If you choose not to pay the interest as it accrues, this will increase the total amount you have to repay because you will be charged interest on a higher principal amount.
To receive a loan, all students must sign their award letter online through SIS and complete the steps listed below.
First time borrowers at our institution must complete online entrance counseling as well as a master promissory note. Disbursements for first time borrowers will not happen until at least 30 days into the semester per federal regulation.
To request a loan follow this process:
1. Go to www.studentloans.gov
2. Select Sign In
3. Enter the required information and log in to your account. Your PIN # is the same one that you used to fill out your FAFSA online.
4. Next select the Complete Entrance Counseling link.
5. Complete this process.
6. You will return to your home page, select Complete Master Promissory Note and complete the MPN.
Exit Counseling must be completed once a student graduates , falls below half-time status, or sits out of school for a period longer than 6 months.