Loans

Students must be at least half-time (6 Hrs) to receive loans.

Subsidized Loans- Direct Subsidized Loan are available to undergraduate students ONLY with financial need. The U.S. Department of Education pays the interest on a Direct Subsidized Loan

 while you’re in school at least half-time,
 for the first six months after you leave school (referred to as a grace period*)
 During a period of deferment (a postponement of loan payments).

Unsubsidized Loan- Direct Unsubsidized Loan are available to undergraduate and graduate students. There is no requirement to demonstrate financial need. You are responsible for paying the
interest on a Direct Unsubsidized Loan during all periods. If you chose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will
accumulate and be capitalized.

The amount of loans a student can receive is based on their grade level.
 1st Year Freshman [1-31 Hours] Subsidized - 3,500 Unsubsidized - 2,000
 2nd Year Sophomore [32 - 62 Hours] Subsidized - 4,500 Unsubsidized – 2,000
 3rd & 4th Year [63- 120 Hours] Subsidized- 5,500 Unsubsidized – 2,000
 5th Year[121- 180 Hours] Subsidized- 5,500 Unsubsidized - 2,000

Parent Plus Loan— This is a non-need based loan available to dependent students’ parents to help with the direct and indirect costs of attending a university. Parents can complete the parent
plus loan application at studentaid.gov. The student MUST notify the Office of Financial Aid if the loan application is denied. If a parent is denied a Parent plus loan they can receive
additional unsubsidized loan. Freshmen and sophomores can received additional unsubsidized in the amount of $4000 for the year. Juniors and seniors will receive an additional unsubsidized
loan in the amount of $5000 for the year.

 Graduate Students- $20,500 per year in a Unsubsidized loan