The Federal Direct Loan program allows you to borrow funds for educational expenses. The amount for which students are eligible varies by individual. However, the loan cannot exceed the estimated cost of attendance less all other sources of financial assistance. There are also maximum academic year limits established by federal guidelines.
Federal Direct Loans require you be enrolled in at least 6 credits per semester. Subsidized loans are interest free while you are in school; unsubsidized loans accrue interest from the time of disbursement. The loans are issued in two disbursements and may be reduced for origination and guarantee fees. Repayment begins six months after dropping below half time status.
To receive a Federal Direct Loan, you must do on-line entrance counseling and the Master Promissory Note (MPN). The following link will assist you: studentloans.gov/myDirectLoan/index.action
You must also return the Loan Request Form with the amount requested to the Financial Aid Office before your loan can be processed.