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Federal Loans

These loans are low-interest, fixed rate federal loans borrowed through the federal government.

Federal Direct Subsidized Student Loans: A subsidized loan is one that the government pays the interest while the student is in school, in a grace period, or in deferment. A student must complete the FAFSA to be considered for a subsidized loan. Repayment begins six months after graduation or discontinuance of at least half-time, degree seeking enrollment. First-time borrowers must additionally complete a Master Promissory Note (MPN) and Entrance Counseling to better understand repayment and options.

Federal Direct Unsubsidized Student Loans: Students who do not qualify or only qualify for part of the subsidized loan based on need are eligible for an unsubsidized loan. An unsubsidized loan is one that the government does not pay the interest on the loan while the student is in school, in a grace period, or in deferment. Payments of principal and interest may be deferred while enrolled at least half-time as a degree seeking student. Repayment begins six months after graduation or discontinuance of at least half-time, degree seeking enrollment. A student must complete the FAFSA to be considered for an unsubsidized loan. First-time borrowers must additionally complete a Master Promissory Note (MPN) and Entrance Counseling to better understand repayment and options.

Federal Perkins Loans: Congress let the Federal Perkins Loan program expire in 2017, and therefore this funding source is no longer available.