Federal Direct Loans

The Direct Loan Program offers subsidized and unsubsidized loans. The subsidized loan is awarded based on financial need and the federal government pays the interest on the loan until the student begins repayment or during authorized deferment periods. An unsubsidized loan is not based on financial need and will accrue interest from the time of disbursement until it is paid in full. The unsubsidized loan cannot exceed the family contribution or the cost of education, whichever is less, within the limits established by the program.

Federal Direct loans must be applied for directly at the University. After the student processes their Free Application for Federal Student Aid (FAFSA), the University will review the results and inform them of their eligibility. The student must have enrolled a minimum academic load of 6 credits at the undergraduate level per academic term.

If the undergraduate student is dependent or independent, he or she may borrow annually up to:

$5,500.00 in combination of subsidized and unsubsidized loans if you are in your first year (Freshman) as a dependent student, enrolled in a program of study that lasts at least one full academic year. Up to $3,500 can be in subsidized loans. If you are an independent student, you can apply for up to $9,500.00 in combination, of which $3,500 can be in subsidized loans.
$6,500 combined subsidized and unsubsidized loans if you are in your second year of study (Sophomore) as a dependent student, and the remainder of your study program lasts at least one full academic year. Up to $4,500 can be in subsidized loans. If you are an independent student you can apply for up to $10,500.00 in combination, of which $4,500 can be in subsidized loans.
$7,500.00 combined subsidized and unsubsidized loans per year if you are in your third year or later (Junior or Senior) as a dependent student, and the remainder of your program lasts at least one full academic year. Up to $5,500 can be in subsidized loans. If you are an independent student you can apply for up to $12,500.00 combined, of which $5,500 can be in subsidized loans.

The loan programs have maximum accumulated totals allowed according to the level of study.

For purposes of establishing the annual federal student loan limit, the University determines the progress within a student's classification per 29 credits approved, as described below:

Freshman – 0-29 credits
Sophomore – 30 – 59 credits
Junior – 60 – 89 credits
Senior – 90 – infinite credits