Loans
Federal Direct Loans
- Subsidized
- Need-based and available to undergraduate students
- Federal government pays the interest while the student is in school (enrolled at least half-time)
- Unsubsidized
- Available to undergraduate and graduate students
- Federal government does not pay the interest
- The student may choose to make interest payments while enrolled or allow the interest to accrue
- Entrance Counseling is required for first time Federal Loan borrowers
- Exit Counseling is required for all Federal Loan borrowers who graduate, withdraw or are registered less than half-time
- Repayment begins six months after leaving school
- Click here to find additional information about loans, including interest rates and repayment options.
Federal Direct PLUS Loans
- Loans are available to parents who have a dependent child enrolled in college and to graduate students who meet legacy provisions under the One Big Beautiful Bill Act.
- These loans are contingent upon credit approval.
- Individual loan eligibility is based on the cost of attendance minus other financial aid, subject to applicable loan limits. Under the One Big Beautiful Bill Act, Parent PLUS loans are limited to $20,000 annually and an aggregrate loan limit of $65,000 per dependent student unless a legacy exception applies. Graduate PLUS loans are available only to students who qualify for the legacy exception.
- Click here to find additional information about the PLUS loan.
Alternative Loans
- Borrowed through a private lender of the student’s choice
- Assists students who are in need of additional financing after having exhausted all other financing options such as grants, scholarships, and all types of federal loans.
- Loan approval is credit based and may require a co-signer
- Be aware of the lender’s fees, interest rates, and repayment options
Annual Loan Limits for Undergraduate and Graduate Students
Annual Loan Limits for Undergraduate and Graduate Students
| Year in School | Credits Earned | Subsidized/Unsubsidized Dependent | Subsidized/Unsubsidized Independent |
|---|---|---|---|
| Freshmen | 0-29 | $3,500/$2,000 | $3,500/$6,000 |
| Total: $5,500 | Total: $9,500 | ||
| Sophomore | 30-59 | $4,500/$2,000 | $4,500/$6,000 |
| Total: $6,500 | Total: $10,500 | ||
| Junior | 60-89 | $5,500/$2,000 | $5,500/$7,000 |
| Total: $7,500 | Total: $12,500 | ||
| Senior | 90+ | $5,500/$2,000 | $5,500/$7,000 |
| Total: $7,500 | Total: $12,500 | ||
| Master’s/Doctoral | N/A | $20,500 |
Aggregate Loan Limits
| Student Type | Subsidized / Unsubsidized Aggregate |
|---|---|
| Dependent Undergraduate Students | $31,000 (maximum $23,000 subsidized) |
| Independent Undergraduate Students | $57,500 (maximum $23,000 subsidized) |
| Graduate Legacy Students | $138,500 (including loans borrowed as an undergraduate) |
| Graduate Non-Legacy Students | $100,000 (NOT including loans borrowed as an undergraduate) |
| Parent PLUS Limit (Non-Legacy Students) | $65,000 per dependent student |
Students must be enrolled at least half-time to be loan eligible. Enrollment definitions are listed below.
| Enrollment Type | Undergraduate | Graduate |
|---|---|---|
| Full-time | 12 or more credit hours | 6 or more credit hours |
| Half-time | 6-11 credit hours | 3-5 credit hours |