Direct Loans can be need-based (subsidized) or non-need based (unsubsidized). The federal government will pay the interest on a subsidized loan while the borrower is enrolled in school at least half-time. For unsubsidized loans, interest begins to accumulate at the point of disbursement. Repayment for both types does not begin until six months after graduating, withdrawing from school or dropping below half-time.
NOTE: If you receive a Direct Subsidized Loan that is first disbursed between July 1, 2012 and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period. If you choose not to pay the interest that accrues during your grace period, the interest will be added to your principal balance.
- Step 1: Log in to studentloans.gov using FAFSA log-in
- Step 2: Complete Direct Loan entrance counseling
- Step 3: Complete a Master Promissory Note
- Loan repayment and calculation
- New eligibility information for Direct Subsidized Loans - July 1, 2013
The PLUS Loan program enables parents of undergraduate students and graduate students with a good credit history to borrow funds. Parents and graduate students may borrow up to the cost of tuition, books and fees less any other financial aid received by the student.
Private Educational Loans
While we encourage students to pursue federal student loans prior to applying for private educational loans, these loans may be helpful and beneficial to some borrowers. Visit the Private Educational Loans page for more information.
The federal government requires you to complete loan counseling to ensure that you understand the responsibilities and obligations you are assuming. Entrance counseling will walk you through the Direct Loan process and explain your rights and responsibilities as a borrower. Students graduating, withdrawing from school or falling below part-time must go through loan exit counseling.
Educational loans are an investment in your future, but it is important to understand your financial obligation. Please take time to read through the following information:
The U.S. Department of Education has authorized Fresno Pacific University to administer federal loan programs under Title IV funding.