Federal Direct Subsidized and Unsubsidized Loans — Penn State Office of Student Aid
All students who meet the general eligibility requirements for federal student aid and have not reached the aggregate loan limit, defaulted on a Federal Direct Student Loans are available as subsidized, unsubsidized, or a. This William D. Ford Direct Loan program allows eligible students to borrow Most federal student loans have loan fees that are a percentage of the total loan amount. Please click here to view the current loan fees for Direct Subsidized Loans, . of disbursement and meet all Satisfactory Academic Progress requirements. Federal direct loan programs consist of low-interest loans and are available to both Subsidized loan eligibility is based upon demonstrated financial need ( filing the . If you meet all requirements, the Direct Loan department will process the.
Students who graduate in the summer session or fall term will have their loans prorated. In addition, the student: If you meet all requirements, the Direct Loan department will process the application and place a temporary loan deferment against your tuition.
Once the loan is processed, you will receive a disclosure statement from the federal government explaining the type of loan, loan amount and anticipated disbursement dates of the loan.
Please note that anticipated disbursement dates are not actual disbursement dates. If you are uncertain whether you must sign a promissory note, consult the Office of Financial Aid, Direct Loan Department.
All first-time direct loan borrowers will need to sign a Master Promissory Note and should follow the instructions above.
Please follow these steps: Sign and date the MPN, using black or blue ink. Mail the MPN and proof of signature as directed.
William D. Ford Direct Loan Program
Otherwise, you must wait until the period of time equal to an academic year elapses to borrow again under the William D. If you are a first-time borrower, you must complete an online entrance counseling quiz and the master promissory note before you can receive your loan funds.
For first-time borrowers borrowing on or after July 1,there is a limit on the maximum period of time measured in academic years that you can receive Direct Subsidized Loans. Loans that are identified as "replacing Expected Family Share" are offered to you as an option to replace the contribution expected from you or your family. Loans that are identified as "replacing need" are offered to you to help meet your financial need.
This loan is unsubsidized, which means that you pay the interest while in school.
Federal Direct Subsidized and Unsubsidized Loans
You may choose to defer any payments while you are enrolled in college at least half-time and during your six-month grace period before repayment. All unpaid accrued interest will be capitalized and added to the outstanding principal balance.
If you are a first-time borrower you must complete an online entrance counseling quiz and the master promissory note before you can receive your loan funds. Disbursement A loan fee will be deducted proportionally from the loan amount prior to each disbursement.
Types of Aid: Continuing Undergraduate Students
Loan fees are available at studentaid. Your loan proceeds will be divided by the number of terms you attend and will be credited to your ZotAccount.
Once your fees have been paid any remaining funds will be disbursed either electronically to your bank account or mailed to you, as you indicated. For additional information, visit http:What Is A Federal Direct Subsidized Loan?