Student Loans
Notice: Student Loan Reform Act of 2010
All federal loans are now certified through the U.S.
Department of Education, including any PLUS Loans a student or parent may intend to borrow. In order for the Office of Financial Aid Services to certify your student loan for the academic year, you will need to complete as well as a new .
Both of these tasks can be accomplished at .
Note: You will need the PIN used to sign your FAFSA to access your Federal Direct Loan account.
- to create your account.
- Enter your social security number, first two letters of your last name, date of birth and federal (FAFSA) PIN.
- Click "Complete Counseling" to complete the Entrance Counseling and click "Complete Master Promissory Note" to complete the Master Promissory Note.
- Click the Entrance Counseling link to complete your Master Promissory Note.
Generally, federal loans tend to have better repayment terms than private student loans.
Determine Your Eligibility
Student loans are a great way to secure financial assistance throughout your university career.
Your first step is to determine your eligibility for receiving any of a vast array of Federal subsidized and unsubsidized loans.
Federal Loan Program
| Yearly Awards
| Criteria
|
| Federal Direct Loan (subsidized and unsubsidized) |
|
A federal loan program that is awarded upon completion of the FAFSA. Repayment begins six months after graduation or cessation of enrollment. |
- First-Year
0-28 credits |
$3,500 sub, $2,000 unsub |
Independent students or Parent Plus loan denials may receive up to an additional $4,000 in unsubsidized as a first-year or sophomore. |
- Sophomore
29-58 credits |
$4,500 sub, $2,000 unsub |
|
- Junior/Senior
59-90 credits
91+ credits |
$5,500 sub, $2,000 unsub |
Independent students or Parent Plus loan denials may receive up to an additional $5,000 in unsubsidized as a junior or senior. |
| - Graduate |
up to $20,500 unsub |
The total loan amount is determined by student's total cost of attendance. |
| Federal PLUS Loan |
Up to cost of attendance |
A loan for parents of dependent undergraduate students. |
| Federal Graduate PLUS Loan |
Up to cost of attendance |
Loan for graduate students |
| Student Employment - Institutional Part-time Employment |
$3,600 |
An on-campus employment program for students to work up to 15 hours per week |
| Alternate/Private |
Up to cost of attendance |
A loan from an outside lender to help cover cost.
Please see . |
The benefit of a is that you are not charged interest on the loan while you are in school at least half-time, as well as during grace periods or deferment periods. These loans are offered to students who display a financial need.
You are not required to demonstrate financial need to receive a . Interest will accumulate on your loan throughout your time in school.
Learn more about these loans and how to apply at the official .
Federal Loan Servicers
Loan Reporting
All federal student loans obtained by you or your parent are reported to and tracked on the National Student Loan Data System (NSLDS). NSLDS loan records are accessible to all authorized NSLDS users, including schools, student loan guaranty agencies, lenders, federal agencies, and other authorized users.
Only federal loan information is reported to NSLDS: private educational loan information is not reported to NSLDS.
You can view all your federal loan information at NSLDS by logging into the system with your federal pin. Your parent also can view any parent or student loans he or she has borrowed, by logging in with his or her federal pin.
Interest Rates
Federal Direct Student Loan interest rates are determined each spring for new loans being made for the upcoming award year (defined as July 1 through June 30). Each loan will have a fixed interest rate for the life of the loan. You can find more information about current federal student loan interest rates at
Origination Fee
There is an origination fee deducted from your loan before you receive the funds. For more information about current origination fees, please visit
What does a federal loan servicer do? A servicer is an organization that has been approved by the U.S. Department of Education to facilitate repayment, customer support, and customer service on federal student loans.
Who are the federal loan servicers for the U.S. Department of Education?
Loan Servicer
| Contact Information
|
| Aspire Resources, Inc. |
855-475-3335 |
| Cornerstone |
800-663-1662 |
| ESA/Edfinancial |
855-337-6884 |
| FedLoan Servicing (PHEAA) |
800-699-2908 |
| Granite State 鈥� GSMR |
888-556-0022 |
| Great Lakes Educational Loan Services, Inc. |
800-236-4300 |
| MOHELA |
888-866-4352 |
| Navient |
888-272-5543 |
| Nelnet |
888-486-4722 |
| OSLA Servicing |
866-264-9762 |
| VSAC Federal Loans |
888-932-5626 |
Who is my federal loan servicer? You can locate your loan servicer at .
Alternative Loans
This is a non-need based loan program for students who do not qualify for other loan programs. These private college loans allow the student to borrow up to the amount of the student's cost of attending 宅男福利社.
Private Lender List
Click here for 宅男福利社's
Private Lender List.
Loan Consolidation
The general idea behind loan consolidation is that by combining several student loans into one bigger loan, you will only have to worry about a single payment. But there are several things that students need to understand before consolidating.
- You should never have to pay a fee to consolidate your loans.
- Consolidation can reduce your monthly payment, but often extends the life of your loan and your overall payment.
- Consolidation can forfeit your original repayment incentives.
- Consolidation may eliminate your deferment options.
- Consolidation may eliminate your forgiveness options under Stafford loan.
- You are only eligible for loan consolidation upon graduation or withdrawal from school.
Get more in-depth information on student loan consolidation and apply now through the following government sites.
Parent Plus Loan
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