Federal Direct Loans are low interest rate loans that all students can apply for, provided they have filed a FAFSA and meet the criteria to receive federal aid.

As with all loans, Stafford Loans must be repaid with interest. Graduate students can be eligible to receive Unsubsidized Direct Loans. To receive the funds, you must be enrolled at least half-time (3 units).

FINANCIAL NEED

Not based on need


LIMITS

Cannot exceed the Federal Direct Loan annual limits noted below.


ANNUAL LOAN LIMITS

 Annual loan limits will be determined by program enrollment. Contact your GSFS advisor for more details. 

 

AGGREGATE LOAN LIMITS

 The maximum lifetime total that you can borrow for Direct Unsubsidized and Subsidized loans combined is $138,500 for Graduate/Professional students.


INTEREST

The interest rate is a variable  fixed rate which is determined at the beginning of each academic year (July 1). For more information visit studentaid.gov


FEES

Fees are determined by the date of the first disbursement of the loan. For more information visit studentaid.gov


APPLY FOR LOANS AND ENTRANCE COUNSELING

After being awarded an Unsubsidized Direct Loan, go to  studentloans.gov to complete a Master Promissory Note (MPN) and your Entrance Counseling.  Please note that once awarded a federal loan, students still need to accept their loan in order for it to be credited to their student account.

 If you are a continuing student borrower at PLNU,  go to your student portal to accept your loans (an MPN and entrance counseling is only required for new borrowers).


REPAYMENT

Begins six months after you graduate, withdraw or cease to be enrolled at least half-time (3 units).  The loan repayment period is typically 10 years, but may change depending on the loan repayment program you choose or if you make more than the minimum payment.  Please click here for more information about repayment.