Federal Student Loan Options for Undergraduate Students
IMPORTANT NOTE: It is our firm belief that families should borrow only when absolutely necessary, and then only to the extent that is needed. We encourage that serious and deliberate consideration be given to making any borrowing decision.
How do I apply for this loan, and am I eligible?
- Must meet for federal student aid
- Follow the link to access, complete, and submit the Loan Request form
- 2024-25 .
- 2025-26 ×ÔοÊÓƵ Loan Request Form (available in future)
- Must request loan each aid year
- Login to using your FSA ID
- Under "Loans and Grants," click on "Master Promissory Note (MPN)" and complete the MPN for undergraduates.
- Completion of MPN and Entrance is only required once
- Under "Loans and Grants," click on "Loan Entrance Counseling" and complete for undergraduates.
- Completion of MPN and Entrance is only required once
- Loan(s) are accepted and will be processed when all loan documents are received.
- Email to reduce or cancel your loans.
How much can I borrow?
- Loan limits depend on academic grade level for dependent students
- Freshmen - $5,500
- Sophomore - $6,500
- Junior, Senior - $7,500
- Borrowing limits can be increased if either condition is met
- Students considered independent on the FAFSA
- Student's parent applied and were denied for Federal Direct PLUS Loan
What is the interest rate, and what fees are charged for these loans?
- Effective July 1, 2024 – June 30, 2025, the interest rate = 6.533%
- Origination fee = 1.057%, deducted at each disbursement
When do I begin repaying the loan?
- Repayment begins six months (grace period) after you drop below half-time enrollment status.
- Visit for loan repayment information and their Loan Simulator.