Undergraduate Loans
Federal student loans are offered to students who complete the FAFSA each year. They are in the student’s name, and they must be paid back. Payments start 6 months after graduation or when a student falls below part-time status (6 credit hours per semester).
SUBSIDIZED LOAN
When a student accepts a subsidized student loan, the government pays the interest while a student is enrolled at least part-time in a college or university. This means that any interest that would have been added to a subsidized loan balance is essentially erased by the government.
UNSUBSIDIZED LOAN
An unsubsidized student loan has interest added to the balance while a student is still enrolled in school. This means that a student's balance will likely be significantly more than what they initially borrowed by the time they graduate. The student is not obligated to pay interest on the loan until they begin loan repayment which is 6 months after graduation or if they fall below part-time status.
PARENT PLUS LOAN
The Parent PLUS Loan is an option for parents to help pay for the education of dependent children. Parents can apply for a Parent PLUS Loan here. The parent must use their own FSA ID to sign in and complete the application. This loan is based on the parents' credit.
Graduate Loans
UNSUBSIDIZED LOAN
An unsubsidized student loan has interest added to the balance while a student is still enrolled in school. This means that a student's balance will likely be significantly more than what they initially borrowed by the time they graduate. The student is not obligated to pay interest on the loan until they begin loan repayment which is 6 months after graduation or if they fall below part-time status.
GRAD PLUS LOAN
The Grad PLUS Loan is a means for graduate students to request additional loans if their unsubsidized loans are not enough to cover their balance. Grad PLUS Loans are based on credit and only suggested as an additional means when needed. The loan application process can be completed here. Only graduate students who are approved are eligible to receive this loan.
Accepting Loans
To accept any loan offer, students can view instructions at the bottom of this page. The Master Promissory Note (MPN) and Entrance Counseling must be completed online. Students must log in using their FSA ID (the same log in used to sign the FAFSA).
*If a student does not wish to accept the full amount of the loan, they must indicate the exact amount they do wish to accept on their Banner Web account. Unless otherwise noted, the loans are divided between fall and spring semesters.
Loan Repayment
Once you graduate, drop below half-time enrollment, or leave school, your federal student loan goes into repayment. However, if you have a Direct Subsidized or Direct Unsubsidized Loan, you have a six month grace period before you are required to start making regular payments. Students do have the option to make prepayments on their loan(s) while enrolled in school or during the grace period. Upon graduation or leaving school, students will receive information regarding Exit Counseling.
The Office of Financial Aid encourages our students to be aware of their borrowing and come speak with a Financial Aid Counselor regarding your yearly loan amounts. If you wish to see more information online regarding your loans, please visit your dashboard to stay aware of your financial aid awards and borrowing history.
Grants
Grants are money given by the government for a specific purpose. The purpose of financial aid grants is to help students that have an exceptional financial need. They have no financial obligation, meaning they do not have to be paid back.
Pell Grant
The Pell Grant is Title IV aid given by the Federal Government to students in college based on their SAI (Student Aid Index), which is calculated through the FAFSA. Pell is awarded based on full-time status and is prorated based on the number of hours a student is enrolled for.
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG is a campus-based program with funds from the Department of Education. This is a need-based grant. Students must be attending at least 6 hours for the semester to be eligible for FSEOG.
Federal Work Study
Federal Work Study is a campus-based program with funds from the Department of Education. The FWS Program provides funds that are earned through part-time employment to assist students in financing the costs of postsecondary education. Students may pursue on-campus job opportunities through the Office of Career Development.
