Federal Loan Applications

Federal Direct Loan Program– As of July 12, 2012 Direct Subsidized Loans are no longer available for graduate students. Direct Unsubsidized Loans are available to graduate students and there is no requirement to demonstrate financial need. Applicants must file the Free Application for Federal Student Aid (FAFSA) to be considered for a federal loan.

  • Your school determines the amount you can borrow based on your cost of attendance and other financial aid you receive. Maximum $20,500 annually.
  • You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods.
  • If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).
  • An origination fee of 1.062 percent is set by the U.S. Department of Education and deducted from loans with first disbursement dates on or after October 1, 2018 and before October 1, 2019. This fee is deducted automatically from amounts borrowed. Thus the net amount disbursed is less than the loan amount approved.

2019-2020 Federal Direct Loan Application

Federal Direct Graduate PLUS Loan Program– Many graduates supplement the Federal Direct Loan with the Federal Direct PLUS Loan Program. Although Graduate Federal PLUS Loans are available to graduate students, the Department of Education will run a credit-check on the applicant before making a decision to lend. The credit check can take 7-11 business days so allow ample time for processing.

  • Applicants must file the Free Application for Federal Student Aid (FAFSA) to be considered for a federal loan.
  • Must not have an adverse credit history
  • The maximum loan amount is the cost of attendance (determined by the school) minus any other financial received.
  • An origination fee of 4.248 percent is set by the Department of Education and deducted from loans with first disbursement dates on or after October 1, 2018 and before October 1, 2019. This fee is deducted automatically from amounts borrowed. Thus the net amount disbursed is less than the loan amount approved.

You are eligible to participate in the Federal Direct Loan Program if you are: (1) a U.S. citizen or permanent resident; (2) enrolled in a degree program on at least a half-time basis (6 credit hours) and credits count towards the degree; and (3) making satisfactory academic progress. This requires that you have a cumulative GPA of at least a 2.70 (grades of “I”, “W”, and C+ or lower are interpreted as failures).

2019-2020 Graduate Federal PLUS Loan Application

 

OTHER IMPORTANT FORMS

Self-Certification Form

Federal Credit Authorization Form