Important Federal Direct Loan Borrowing Information

The Office of Student Financial Aid (OSFA) will offer you the maximum Federal Direct Loan(s) allowed by federal law. Before borrowing, you should consider all other sources of income including state grants by contacting your home state grant agency. You should create and evaluate a personal budget and, if the full amount of loan offered is not needed, you should reduce or cancel the loan. Remember, you must be considered a half-time student to receive Federal Direct Loans.  Half-time student status for the academic year is defined as six hours per semester for undergraduates and five hours per semester for graduates.  During the summer and winter sessions, half-time status is defined as three hours for both undergraduates and graduates.

Prior to receiving Federal Direct Loan funds, you are required to complete Entrance Counseling. You should closely review the Borrower's Rights and Responsibilities Statement (PDF form), as borrowing is a binding legal obligation. All amounts borrowed must be repaid regardless of whether you complete college, are satisfied with your education, or find employment within your chosen field.

As a borrower, you are entitled to certain tax benefits which are available on the IRS web site.

Federal Direct Loan information will be submitted to the National Student Loan Data System (NSLDS). Information in NSLDS is accessible to schools, lenders, and guarantors for specific purposes as authorized by the U.S. Department of Education. You can access this information at www.nslds.ed.gov using your federal PIN.

When you leave school, you will be required to complete Exit Counseling which will give you additional information regarding loan repayment. If you have a dispute or problem with your student loan and you have made a reasonable effort to resolve your problem through normal processes and it is not resolved, contact the Ombudsman's Office at www.ombudsman.ed.gov.