Types of Aid

DIRECT SUBSIDIZED LOAN

The Direct Subsidized Loan is awarded on the basis of need. You will not be charged any interest while you are in school (at least half-time) or in a grace or deferment status.  

The new Moving Ahead for Progress in the 21st Century Act (MAP-21) regulation is going into effect for first time borrowers on or after July 1, 2013. The regulation states that borrowers are no longer eligible to receive additional Direct Subsidized Loans if the period during which the borrower has received such loans meets or exceeds 150 percent of the published length of the program in which the borrower is currently enrolled.

DIRECT UNSUBSIDIZED LOAN

The Direct Unsubsidized Loan is not awarded on the basis of need. The borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues through the life of the loan.

All first time borrowers must complete the Master Promissory Note (MPN) and Entrance Counseling at www.studentaid.gov. 

Direct Parent PLUS Loans are available to credit-worthy parents of dependent students who enroll at least half time (six credit hours per semester) and are meeting Satisfactory Academic Progress (SAP).

Criteria for Eligibility:

• Available to the parent of a dependent age undergraduate student enrolled at least half-time (6 units).
• A credit check is required. 
  • Please note: If you have your account on a credit freeze, please contact Transunion and Equifax to lift the hold for two weeks before you apply.
• The student must complete a FAFSA each academic year. 
• Must reapply for the Plus loan for any future academic years. 

Steps to Apply:

1. Create or Locate your FSA ID Username or Password
2. Choose: Parent PLUS application.
3. Complete the application and proceed to decision results
4. Complete the Parent Authorization Form.

Steps After You Apply:

Read the results page carefully for next steps.

If approved, complete the Master Promissory Note and Entrance Counseling. The credit decision is only valid for 6 months after the date of the application. If you would like to increase the loan after the 6 months, you must reapply. 

If denied, the applicant must decide how to move forward. If a dependent student would like to request the additional unsubsidized loan and the parent selected options 1,2, or 4, the parent must submit a signed statement to the financial aid office indicating they will not pursue an Endorser or Appeal the credit decision. 

1. I want to obtain an endorser.
   • This option requires the applicant to find a credit-worthy cosigner to complete an Electronic Endorser Addendum. The endorser will determine the amount of the loan. Only the endorser can increase the loan amount by completing a new addendum within the 6 months the credit decision is till active. 
   • Applicant must complete PLUS Credit Counseling
   • Applicant must complete a Master Promissory Note (MPN)
   • After all steps are completed, the student or applicant must notify the financial aid office that the requirements have been met to proceed with processing the loan.
2. I want to provide documentation of extenuating circumstances.
   • This option requires the applicant to Appeal Credit Decision
   • If approved the applicant must complete Plus Credit Counseling
   • The applicant must complete a Master Promissory Note (MPN)
   • After all steps are completed, the student or applicant must notify the financial aid office that the requirements have been met to proceed with processing the loan.
3. I do not want to pursue a Direct Plus Loan at this time.
   • An undergraduate dependent student may be eligible for an additional $4,000 of Federal Direct Unsubsidized Loan. To request the additional loan, the student must notify the financial aid office via their Jagwire email account. The additional loan will be offered and can be accepted through the portal by following these instructions.  
4. Undecided.
   • No action is taken.

FAQ's

• Can both parents apply for a plus loan in the same year? Yes, if the parents would like to split the responsibility of financing, they may apply using separate applications.  
• More FAQ's

The Federal Direct Graduate PLUS (Grad PLUS) loan is an affordable, low interest loan for graduate and professional students. You can borrow up to the total cost of attendance (minus any other financial aid awarded). If you are denied the Graduate PLUS loan due to an adverse credit history, you will not be eligible for any additional Unsubsidized Direct Loan.

Criteria for Eligibility:

• Available to the graduate student enrolled at least half-time (6 units).
• A credit check is required. 
  • Please note: If you have your account on a credit freeze, please contact Transunion and Equifax to lift the hold for two weeks before you apply.
• The student must complete a FAFSA each academic year. 
• Must reapply for the Plus loan for any future academic years. 

Steps to Apply:

1. Create or Locate your FSA ID Username or Password
2. Choose: Graduate PLUS application.
   • Complete the application and proceed to decision results

Steps After You Apply:

Read the results page carefully for next steps.

If approved, complete the Master Promissory Note and Entrance Counseling. The credit decision is only valid for 6 months after the date of the application. If you would like to increase the loan after the 6 months, you must reapply. 

If denied, the applicant must decide how to move forward. 

1. I want to obtain an endorser.
   • This option requires the applicant to find a credit-worthy cosigner to complete an Electronic Endorser Addendum. The endorser will determine the amount of the loan. Only the endorser can increase the loan amount by completing a new addendum within the 6 months the credit decision is till active. 
   • Applicant must complete PLUS Credit Counseling
   • Applicant must complete a Master Promissory Note (MPN)
2. After all steps are completed, the student or applicant must notify the financial aid office that the requirements have been met to proceed with processing the loan.
3. I want to provide documentation of extenuating circumstances.
   • This option requires the applicant to Appeal Credit Decision
   • If approved the applicant must complete Plus Credit Counseling
   • The applicant must complete a Master Promissory Note (MPN)
   • After all steps are completed, the student or applicant must notify the financial aid office that the requirements have been met to proceed with processing the loan.
4. I do not want to pursue a Direct Plus Loan at this time. You are not eligible for any other federal aid.