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Financial Aid
Financial Aid
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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.

Due to changes in the Federal regulations, beginning Fall 2012, graduate/professional students will no longer be offered subsidized loans. Annual loan limits have not changed, only the elimination of the subsidized loan eligibility.

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.

Loan Descriptions and Requirements

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

Interest rate for Undergraduate Subsidized Loans: 3.86%

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

Interest rate for Undergraduate Unsubsidized Loans: 3.86% 
Interest rate for Graduate/Professional Unsubsidized Loans: 5.41%

  • 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 6.41% 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 6.41% 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. For help choosing the best lender, visit our Tips for Choosing an Alternative Loan page.
    • Undergraduate/Graduate Alternative Loans Learn More >>
    • Pharmacology Alternative Loans (For Pharmacy Students) Learn More >>
    • Nursing Anesthesia Graduate Alternative Loans (For Nursing Anesthesia Graduate Students) Learn More >>
    • School of Dental Medicine Alternative Loans (For Dental Students) Learn More >>
    • Loan Proration for one term graduates Learn More >>