Requirements for Loans
- Minimum half-time enrollment
- Subsidized loan based on financial need
- Sign a Master Promissory Note
- Complete Entrance Counseling
Types of Loans
1. Direct Subsidized Loan
Fixed-Interest loans available to student borrowers. Interest is paid by the government while the student continues to be enrolled at least half-time. Payments are deferred until 6 months after graduation or withdrawal below half-time status. 4.29% fixed interest rate is given for loans disbursed after July 1, 2015.
2. Direct Unsubsidized Loan
Fixed-interest loans available to student borrowers. Interest accrues while the student is enrolled. Payments are deferred until 6 months after graduation or withdrawal below half-time status. 4.29% fixed interest rate.
First-time applicants for Federal Direct Loans must complete sign a Master Promissory Note before loans will be disbursed.
Direct Loan Amounts
Additional unsubsidized loan Grade Level Base Direct Loans Dependent Undergrads
Freshman (0-27 units)
Sophomore (28-59 units)
Junior (60-89 units)
Senior (90+ units)
3. Parent PLUS Loan
Fixed-interest loan available to parents of dependent students. PLUS loan is credit-based loan and requires a separate application and Master Promissory Note completed by the parent. Payments can be deferred while the student is enrolled at least half-time. (If a parent is not eligible for the PLUS loan, the student becomes eligible for an additional $4,000 in their Direct Unsubsidized Loan.) 6.84% fixed interest rate.
4. Private Educational Loan
Variable Interest rate loans available to student borrows. These loans are credit-based and typically require a credit worthy co-signer. Please talk with the Financial Aid Office before applying for a private loan.