Student Loan Information

Federal Direct Loan Program

Eligibility Requirements for students borrowing a Direct Loan, both subsidized and unsubsidized:

  • You must be a U.S. Citizen or a Permanent Resident.
  • You must be enrolled at least half-time.
  • You must maintain satisfactory academic progress.
  • You cannot be in default on a federal student loan.
Note: Direct Subsidized loans are no longer available to graduate and professional students

Federal Direct Unsubsidized Loans

Direct Unsubsidized Loans are not based on financial need and interest is charged during all periods. Current interest rates and origination fees can be found on the Federal Student Aid Web site.

Federal Direct Grad PLUS Loans

Direct PLUS Loans are low-interest loans for graduate/professional degree students. Current interest rates and origination fees can be found on the Federal Student Aid Web site.

The eligibility requirements for a graduate student to borrow a Direct PLUS Loan are:

  • You must be a U.S. citizen or eligible noncitizen, must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the Federal Student Aid programs.
  • A credit check that will be performed and will exclude anyone with an adverse credit history.

Alternative/Private Loans

You may want to consider a private student loan if you need additional funding for educational expenses, and only after you have exhausted all potential scholarships, federal grants, work-study funds and federal loans.

Private student loans are offered by private lenders, such as banks and credit unions. Unlike federal student loans, which are guaranteed by the federal government, private student loan terms vary from lender to lender. It is important to ask questions when deciding to borrow a private loan so that you can compare the terms and choose the one that best fits your needs.