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Alert 

Beginning July 1st, 2013 all first-time Direct Subsidized Stafford loan borrowers have a limitation of 150% of the published length of the borrower’s current educational program. 
A first-time borrower is a student with no outstanding balance on a Direct Loan when receiving a Direct Loan on or after July 1st, 2013.

For Example:

If you are enrolled in a 5 year bachelor’s degree program, the maximum period for which you can receive Direct Subsidized Stafford Loans is 7.5 years.
If you are enrolled in a 4 year bachelor’s degree program, the maximum period for which you can receive Direct Subsidized Stafford Loans is 6 years.
If you are enrolled in a 2 year associate degree program, the maximum period for which you can receive Direct Subsidized Stafford Loans is 3 years.
If you are enrolled in a 1-year certificate program, the maximum period for which you can receive Direct Subsidized Stafford Loans is 1.5 years

Beginning March 29, 2015 a new PLUS Counseling module will be added to the www.studentloans.gov website.  This counseling must be completed by Direct PLUS Loan applicants (parents of dependent undergraduate students as well as graduate/professional students) who are determined to have an adverse credit history, but qualify for a Direct PLUS Loan by obtaining an endorser or by documenting extenuating circumstances.

Loans to assist with educational costs are available to SIUE students through federal, state and institutional programs. Some loans require financial need, but others are available to students with no financial need.

All loans require at least half-time enrollment (5 hours for graduate students, 6 hours for undergraduate students) in all terms enrolled: fall, spring, and summer. This enrollment requirement must be maintained through the end of the 100% refund period for each term.

NOTE: All first-time borrowers must complete a Master Promissory Note (MPN) and Entrance Counseling. These can be completed by visiting StudentLoans.gov.

Students and parents also can use the online Debt/Salary Wizard to help determine how much to borrow based on current or future income.

Loan Proration for one term graduates Learn More >>

Know What You Owe

www.nslds.ed.gov

You can view the total amount of Federal loans you have borrowed on the National Student Loan Data System (NSLDS).

The site displays information on your loan amounts, outstanding balances and the loan status.

To review your loan information, you will need:

◆ Social Security number.

◆ First two letters of your last name.

◆ Your date of birth.

◆ Personal Identification Number.

The PIN assigned to you when you completed the FAFSA.

Note: NSLDS does not display information about private student loans. For information on those loans, contact your lender.

Student Loan Debt Relief - Do your Homework Learn More>>

Loan Descriptions and Requirements

  • Federal Direct Subsidized Loan - need-based; student must have completed a FAFSA. Learn More >>

Interest rate for Undergraduate Subsidized Loans: 4.66%

  • Federal Direct Unsubsidized Loan - non-need-based; student must have completed a FAFSA. Learn More >>

Interest rate for Undergraduate Unsubsidized Loans: 4.66% 
Interest rate for Graduate/Professional Unsubsidized Loans: 6.21%

  • Federal Direct PLUS Loan (For Parents) - student must be a dependent student to be eligible for this loan. Learn More >>

Interest rate is a fixed rate of 7.21% and is charged from the time funds
are disbursed to the time the loan is paid in full.

  • Federal Direct Grad PLUS - to apply, student must be a graduate student and must have completed a FAFSA. Learn More >>

Interest rate is a fixed rate of 7.21% and is charged from the time funds
are disbursed to the time the loan is paid in full.

  • Alternative Loans - not part of the federal government loan programs, but these are good options after other financial aid sources have been exhausted. 

Click here to view our commonly use lender list.

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