Student loans, unlike grants and work study, are borrowed money that must be repaid with interest. Before you take out a student loan consider carefully the amount that you will have to repay in the years after graduation. Financial aid recipients may be eligible for either a Direct Subsidized Loan, a Direct Unsubsidized Loan, or a combination of both loans. Students must be enrolled in a minimum of six credits to qualify.

Federal Student Loans 

Federal Student Direct Loans attributes: 

  • Enrolled in a financial aid eligible program of study 

  • Enrolled in at least 6 credits per term 

  • Complete Master Promissory Note (MPN) and Entrance Counseling 

  • Aggregate limits apply- both annual and lifetime 

  • Repayment begins six months after you graduate, drop below 6 credits, or withdraw from all classes. Loan servicing information can be found at https://NSLDS 

The two primary Federal Student Direct Loans (DL) are Subsidized and Unsubsidized.  


  • Interest accrues once repayment begins 

  • Annual limits apply based on year in school 

  • Need based  


  • Interest accrues upon disbursement 

  • Non-need based 

  • Annual and lifetime limits apply 

Federal Parent Loans for Undergraduate Students (PLUS)

  • Parents of dependent students may take out loans to supplement their child’s aid package.

  • PLUS loans are available regardless of income or assets, but a credit check is performed.

  • Parents may borrow up to the total Cost of Attendance at their child’s school minus any other financial aid received.

  • PLUS loans go into repayment 60 days after it is fully disbursed for the year and is the financial responsibility of the parents, not the student.

  • If the student agrees to make payments, but fails to make payments on time, the parent will be held responsible.

  • To ensure that your PLUS loan is processed in a timely manner, please follow the next few steps:

    1. Complete the PLUS Request form at the following link to notify the Financial Aid Office that you are interested in a PLUS Loan

    2. Complete the online PLUS application at the following link

    3. Complete the Parent’s Master Promissory Note (MPN) for Parents of Undergraduate Students found here: