Increase font size
Decrease font size


The Office of Scholarships and Student Aid administers a number of student loan programs which provide low-interest, long-term loans to undergraduate, graduate, and professional students.  Most financial aid packages include assistance from one or more loan programs.  After a financial aid application has been completed, students will be notified of eligibility for the following programs:

Federal Direct Loans

There are two types of Federal Direct Loans, Subsidized and Unsubsidized.

Subsidized Loans – These are provided up to a specified amount to students with financial need. Interest is not charged on these loans while students are enrolled.  Undergraduate students may borrow $3,500 – $5,500 in the Subsidized Loan Program.

Unsubsidized Loans – These are provided up to a specified amount to students regardless of financial need.  Interest is charged on these loans while students are enrolled.  Graduate and Professional students will be notified automatically of eligibility for this loan.  Undergraduate students who wish to be considered for this loan must request consideration by completing the loan request form available in the “forms” section of this site.

Both of these loan programs offer multiple repayment plans from 10 to 30 years. The interest rate might vary, depending on the year in which the loan is taken, but will typically be no more than 6.8%.

In order to receive these loans, students must complete a Master Promissory Note (MPN) and Entrance Loan Counseling.  Information will be included with the award notification once eligibility has been determined.  For more information about the MPN and the terms of these loans, please refer to the federal site at: studentloans.gov.

An origination fee is charged by the Federal Government for Subsidized and Unsubsidized loans which will be taken out of the disbursed amount. The current origination fee is 1% of the amount awarded.

Federal Perkins Loans

This is a low-interest loan for students with exceptional financial need.  All students are automatically considered for this loan; no special application is needed.  These loans have a 5%, interest rate and no origination fees.  Repayment begins nine months after graduation and is extended up to 10 years.  Students eligible for this loan are notified once their award eligibility has been determined.  Eligible students receive instructions for completing a promissory note and entrance loan counseling.

Upon acceptance of the loan, the full amount will be disbursed directly into your student account.

Federal Direct PLUS Loans

There are two types of PLUS loans, Parent and Graduate.  The Parent loan is available to parent(s) of undergraduate students.  The Graduate loan is available to graduate and professional students.  These loans are at a higher interest rate than other Direct Loans and the repayment terms aren’t quite as attractive.  For more information, see studentloans.gov. Parent loans may be used to meet costs of attendance after all other financial aid programs have been applied.

An origination fee is charged for these loans which will be taken out of the disbursement. Please refer to the studentloans.gov site for information regarding the fee.

Federal  Health Professions Student Loans

This is a federal student loan program with long-term repayment and offered at a low interest rate. Students must be enrolled full-time, demonstrate financial need, and be enrolled in a qualified health profession.  Those who are eligible will be notified by the office once financial aid eligibility has been determined.  If interested, students will then be asked to submit additional income information to determine final eligibility.  These loans have a 5% interest rate, accrue no interest while enrolled, offer a one-year grace period before repayment begins, and provide a repayment plan up to 10 years.