Federal

Federal Perkins Loans - This is a loan available to both graduate and undergraduate students and is based on financial need. The interest rate is fixed at 5% and repayment does not begin until nine months after the student graduates (or drops below half-time status). Funds are limited.

Application: FAFSA; First time borrows must also complete and sign a Perkins Master Promissory Note (MPN).
Deadline: May 1

Federal Direct Subsidized Loan - This is a loan program for undergraduate students to borrow through the Department of Education to help meet their educational expenses and is based on financial need. This is a subsidized loan which means the government pays the interest for the student as long as they are enrolled at least half-time. Repayment begins six months after the student graduates (or drops below half-time status).

Application: FAFSA; First year, first time borrowers must also complete and sign a Master Promissory Note (MPN) and complete Entrance Counseling.
Deadline: Loans must be certified by the Financial Aid Office prior to the last day of enrollment.

Federal Direct Unsubsidized Loan - This is a loan program for undergraduate and graduate students to borrow through the Department of Education to help meet their educational expenses and is not based on financial need.   This is an unsubsidized loan which means the student is responsible for the interest while they are in school. Students may capitalize the interest and add it to the principle or make quarterly interest payments. Repayment begins six months after the student graduates (or drops below half-time status.)

Application: FAFSA; First year, first time borrowers must also complete and sign a Master Promissory Note (MPN) and complete Entrance Counseling.
Deadline: Loans must be certified by the Financial Aid Office prior to the last day of enrollment.

Federal Direct Parent Loans for Undergraduate Students (PLUS) Loan - This is a loan program where the parent of an undergraduate student borrows through the Department of Education and can borrow up to the cost of attendance minus any other aid the student receives.  Parents are subject to a credit check. Repayment usually begins within 60 days after the loan is fully disbursed or parents may choose to defer payments until six months after the student graduates or drops below half-time status. Interest will continue to accrue and may be capitalized if not paid quarterly.

Note: If the parent's credit is not approved, the student becomes eligible for up to an additional $4,000 of Federal Direct unsubsidized loan. 

Application: FAFSA; Parents must complete a credit check and if approved, sign a Master Promissory Note (MPN). The credit check must be completed every year and should not be completed before June 1.
Deadline: Loans must be certified by the Financial Aid Office prior to the last day of enrollment.

Federal Direct Graduate PLUS Loan - This is a loan program where a graduate student borrows through the Department of Education and can borrow up to the cost of attendance minus any other aid the student receives.  Students are subject to a credit check. Repayment begins six months after you graduate (or drop below half-time status).

Application: FAFSA; Graduate students must complete a credit check and if approved, sign a Master Promissory Note (MPN). The credit check must be completed every year and should not be completed before June 1. 
Deadline: Loans must be certified by the Financial Aid Office prior to the last day of enrollment.