The basics about loans
Federal loans
A federal loan is a type of government loan that gives students an opportunity to borrow money directly from the federal government to help fund their college education. Administered by the U.S. Department of Education, federal loans usually offer lower interest rates and flexible options for repayment.
Federal Subsidized Loan
This is a federally financed and subsidized student loan made based on your financial need and other specific eligibility requirements.
Federal Unsubsidized Loan
This is a federally financed student loan made to undergraduate and graduate students who meet specific eligibility requirements.
Federal Graduate PLUS Loan
This is a federally funded loan that is not based on need and for graduate students only. An additional application is required.
Federal Parent PLUS Loan
The federal Parent PLUS Loan allows a parent to borrow money for the educational expenses of a child who is a dependent undergraduate student enrolled at least half time.
Federal loan limits
There is a time limit for federal Direct Subsidized Loans. Subsidy is limited to 150% of the length of the educational program for federal Direct Subsidized Loans that were disbursed on or after July 1, 2013, for students who have no outstanding principal Direct Loan or Federal Family Education Loan Program at the time of their disbursement. For example, if a student is enrolled in a four-year educational program, their eligibility limit for federal Direct Subsidized Loans is six years.
Student loan counseling
Federal loan entrance and exit counseling
Failure to complete the appropriate counseling within 30 days of the student's acceptance of the loan, or at least 30 days prior to their last date of enrollment, may result in the cancellation of their loan(s).
Entrance counseling
For federal Direct Subsidized Loans, federal Direct Unsubsidized Loans and federal Direct Graduate PLUS Loans:
- must be completed online.
- First-time borrowers of a federal student loan must complete entrance counseling. Once the student passes the online quiz, Student Financial Aid will be notified electronically. If a student is enrolled and has not completed entrance counseling within at least 30 days after their loan(s) have been accepted, their loan(s) may be canceled.
Exit counseling
- must be completed online.
- Loan exit counseling is required for students who have petitioned to graduate or whose enrollment has dropped below half time as well as have been a recipient of federal student loans. Repayment of federal student loans begins six months after graduation or six months after a student is no longer enrolled at least half time. When exit counseling is required, you will be notified via your 51福利社 email that you have an outstanding requirement to complete. You can find out about your loan debt, repayment, deferment and forbearance options by visiting and logging in.
Private alternative loans
Once you have exhausted your eligibility for federal and state financial aid and loans, you may need to consider applying for a private educational loan, also called an alternative loan. These loans are not federal student loans. They are offered by private lenders and are used to supplement your financial aid.
Short-term loans
Short-term loans are available on a limited basis for books at the beginning of each semester or session or for emergency situations throughout the semester or session considered on an individual basis. To apply for a short-term loan, please see a student services representative at Bronco Express.