A student’s award letter may include a Federal Subsidized Direct Loan and/or a Federal Unsubsidized Direct Loan.
Each Direct Loan may be subject to an origination fee and a Federal Default fee. Repayment commences six months after the borrower is not enrolled at least half-time. Only one grace period is allowed. At the time of disbursement, enrollment must be at least half-time (6 credits or more) for all loan awards. Students are encouraged to utilize all available Federal and State financial aid resources before turning to an outside lender for a private education loan.