Loans are not automatically included in a student's financial aid package. An online loan request must be completed and submitted. A link to the online loan request is now available on your Peoplesoft Self Service under finances/loan request. If you would like to request a loan, click on this link and follow the instructions. Please allow up to 10 business days for the loan to show on your account once you have made the request.
For new borrowers, before accepting your loan you must sign a Promissory Note and complete Entrance Counseling. The Promissory Note, Entrance and Exit loan counseling is available at on the StudentLoans.gov website. You will become acquainted with your lifetime loan limit amounts on these sites and are responsible for knowing how much you have borrowed throughout your education. As these are loans and must be repaid, consider the needed loan amount very carefully.
Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education (the Department), though the entity you deal with, your loan servicer, can be a private business.
With Direct Loans, you
To be considered for a loan, you must first complete the FAFSA , be enrolled at least half-time (6 credit hours), and demonstrate financial need. The college must determine your eligibility for a Federal Pell Grant before you may receive a Direct Subsidized Loan or Direct Unsubsidized Loan. The college is also required to determine your eligibility for Direct Subsidized Loan before determining your eligibility for a Direct Unsubsidized Loan.
Visit the National Student Loan Data System (NSLDS®) to view information about all of the federal student loans you have received and to find contact information for the loan servicer or lender for your loans. You will need your Federal Student Aid ID to access your information. Consider the lifetime limits placed on all federal aid in accepting any award. If you have received student loans from another federal student loan program, you are responsible for informing your college and your lender of your other student loans. In some cases, you may not be eligible for loans for which you have applied.
Repayment of the loan begins six months after the recipient graduates, leaves the college, or goes below half-time.