Students are automatically considered for all types of financial aid. Student Financial Services will determine what aid students are eligible for and award accordingly. Regardless of the type of financial aid included in the award package, the total amount of financial aid cannot exceed the student's Cost of Attendance (COA). Any outside resources (ex: outside scholarships, employer tuition reimbursement, and private/alternative educational loans) that a student receives must be included in the financial aid calculation.
Federal Direct Student Loans
Up to $20,500 per year (cannot exceed COA)
$138,500 aggregate limit
The Federal Direct Unsubsidized Loan
The direct unsubsidized loan is not a need-based loan. Interest does accrue while students are enrolled, during the six-month grace period and during repayment. The interest rate is 6.08% and the lender is the Department of Education.
Federal Direct Loan Award Requirements
- be a U.S. citizen or permanent resident
- if the student is male, he must be registered with the Selective Service
- must not be in default on a federal student loan
- must not owe an overpayment for a federal grant
- must not have reached or exceeded the annual or aggregate loan limits
- be enrolled at half-time status
- complete Loan Entrance Counseling and the Master Promissory Note
- complete Loan Exit Counseling if student graduates, leaves college or drops below half-time enrollment