Student Loans

Information about student loans including eligibility and tips for student loan borrowers.

Student Loan Eligibility

  • Complete your FAFSA and financial aid file.
  • Enroll in a minimum of 6 financial aid eligible credit hours (non-credit classes or ABE are not considered eligible). Congress also establishes loan limits that may be prorated depending on your student classification.
  • Enroll in an eligible program of study.
  • If you are a first-time federal loan borrower, you need to complete the Entrance Counseling and sign a Master Promissory Note.
  • Maintain financial aid Satisfactory Academic Progress.
  • If you qualify for a Federal Subsidized Direct Loan, you may borrow up to $3,500 per year as a first-year student and $4,500 per year as a second-year student.
  • Private student loan requirements vary by lender. 

 Accept an Award Offer

Entrance Counseling Information Sessions

If you are a first-time federal loan borrower, you need to complete the Federal Loan Entrance Counseling and sign a Master Promissory Note.

Policies and Rules

Student Loan Tips

If you decide to borrow, here are some points to remember:

  • If you’re a freshman student and a first-time borrower, you must complete the entrance counseling, sign a master promissory note and apply online for your loans. In addition, your first disbursement can’t be made until 30 days after the first day of term.
  • If you drop below half-time during a term in which you are receiving a student loan, all subsequent disbursements may be canceled.
  • Be an informed borrower. Review loan deferment provisions, repayment terms, and refinancing and consolidation options before your loan repayment begins.
  • Keep records on all your loans, keep them up-to-date and keep them together in one place.
  • Keep your lender informed of your current address, any name changes, any changes in your repayment status and any problems you may have with loan repayment.
  • Retain the Notice of Loan Guarantee; it details the interest rate, the type of loan you have, total amount borrowed (provided all loans have been processed through the same guarantee agency), and your projected monthly payment.