Federal Direct Loans

Overview

There are three types of Federal Direct Loans:

  • Subsidized Loan: the government pays the interest while the student is in college.
  • Unsubsidized Loan: the student is responsible for paying all interest on the loan, during and after college.
  • PLUS Loan: Parents may borrow for their children's college education under this program. The FAFSA form must be completed and parent must apply for PLUS loan on StudentAid.gov

Students who qualify may receive all three types of loans at the same time. 

Using your Federal Student Aid ID (FSA ID), you can log into StudentAid.gov to review your Aid Summary including details for each loan and grant you have received. You can monitor repayment progress, receive alerts about your account, and keep track of your remaining eligibility for Direct Loans and Pell Grants. With Aid Summary, you no longer have to log in to the National Student Loan Data System (NSLDS®) website for any of this aid information.

Note: If you’re a first-year undergraduate student and a first-time borrower, you will have to wait 30 days after the first day of your enrollment period (semester) for your first disbursement.

Disclosure: All students entering into an agreement regarding a Title IV, HEA loan(s) will have information submitted to NSLDS and it will be accessible by authorized agencies, lenders and institutions. 

Accepting a Federal Direct Loan

Below are the instructions for how to Accept/Decline your awards:

How to Accept/Decline Loan Instructions

Exit Counseling for Federal Loans

If you are graduating, dropping below half-time enrollment (below 6 credit hours), or are leaving Rose State College; you will need to complete Loan Exit Counseling.