2016-2017 Semester Catalog

Federal Direct Student Loans

Federal Direct Loans are low-interest student loans that must be repaid after you graduate or drop below half-time enrollment. Direct Loans are a form of federal financial aid, and may only be received by students who are:

The Office of Student Financial Aid determines your eligibility for the Direct Loan based on the results of your FAFSA (Free Application for Federal Student Aid), cost of attendance, and other financial aid received. This includes agency payments such as Vocational Rehabilitation, Workforce Innovation and Opportunity Act (WIOA), and Trade Assistance Act (TAA). It is the student’s responsibility to notify the Financial Aid Office of any outside scholarships or agency payments.

Subsidized Direct Loan: You must have financial need (based on FAFSA results) to qualify for the Subsidized Direct Loan.

Unsubsidized Direct Loan: This version of the Federal Direct Loan is not based on financial need. However, the amount of the loan, combined with other financial aid resources, cannot exceed the cost of attendance. The borrower is responsible for all interest charges on an Unsubsidized Direct Loan from the time the loan is disbursed. While you are not required to make payments while you are in school or during grace or deferment periods, we recommend that you pay interest quarterly. Any accrued interest that is not paid will be added (capitalized) to the loan balance when you enter repayment.