17cÆð²ÝÊÓƵ

Students enrolled at 17cÆð²ÝÊÓƵ will need to complete a Federal Direct Loan Master Promissory Note (MPN) and Entrance Counseling at before loan funds will be disbursed. Students and parents who have already completed a federal Direct Loan MPN do not need to complete a new MPN for 17cÆð²ÝÊÓƵ.

Federal loan programs are loans offered at low interest rates that allow students to borrow funds to pay their educational expenses. Repayment of these loans begins six to nine months after the student graduates or drops below half-time (6 credit hours) enrollment. For additional information on loan types, interest rates and repayment options visit .

Federal Direct Loans

Federal Direct Loans are available to students who filed a FAFSA and are enrolled at least half-time. Borrowing amounts are as follows:

	Subsidized All Students	Unsubsidized All Students	Independent Students
Freshman	$3,500	$2,000	$4,000
Sophomore	$4,500	$2,000	$4,000
Juniors and Seniors	$5,500	$2,000	$5,000

Direct Subsidized Federal Loans are based on financial need. The federal government pays the interest on subsidized loans for students that are enrolled at least half-time.

Direct Unsubsidized Federal Loans are not based on financial need. Interest on unsubsidized loans will accrue while you are in school. Students may pay the interest on these loans quarterly while in school or choose to defer interest payments as long as they are enrolled at least half-time.

Complete Federal Direct Loan entrance counseling and electronically sign your Loan Master Promissory Note (MPN) at .

Direct Loan Interest Rates

Federal Direct loans disbursed on or after July 1, 2020 and before July 1, 2021*:

• Direct Subsidized Loans – 3.73%
  Direct Unsubsidized Loans: Undergraduate - 3.73% Graduate – 5.28%
• Direct Parent/Graduate PLUS Loans – 6.28%

*Subject to change every July 1.

Direct Loan Origination Fees*

*Subject to change every Oct. 1

Federal Direct Subsidized and Unsubsidized loans disbursed on or after:

• On or after October 1, 2019 and before October 1, 2020: 1.059%
• On or after October 1, 2020 and before October 1, 2021: 1.057%
  

Federal Direct Parent/Graduate PLUS loans disbursed:

• On or after October 1, 2019 and before October 1, 2020: 4.236%
• On or after October 1, 2020 and before October 1, 2021: 4.228%

To view the most current information visit .

Federal Direct Loan Borrower Rights & Responsibilities

Below is a summary of your rights and responsibilities as a borrower of a Direct Loan. More specific rights and responsibilities for your loan was provided to you with a copy of your promissory note and can be requested by sending us an email or calling us.

I understand that I have a right to the following:

• written information on my loan obligations and information on my rights and responsibilities as a borrower
• a grace period and an explanation of what this means
• a disclosure statement, received before I begin to repay my loan, that includes information about interest rates, fees, the balance I owe, and the number of payments
• deferment of repayment for certain defined periods, if I qualify and if I request it
• forbearance, if I qualify and if I request it
• prepayment of my loan in whole or in part any time without an early-repayment penalty
• a copy of my promissory note either before or at the time my loan is disbursed
• documentation that my loan(s) are paid in full

I understand I am responsible for:

• attending Exit Counseling before I leave school or drop below half-time enrollment
• repaying my loan even if I do not complete my academic program (under certain circumstances), I am dissatisfied with the education I received, or I am unable to find employment after I graduate
• notifying my school and the Direct Loan Servicing Center if I:
  • move/change my address
  • change my name
  • withdraw from school or drop below half-time enrollment
  • transfer to another school
  • fail to enroll or re-enroll in school for the period for which the loan was intended
  • change my expected date of graduation
• making monthly payments on my loan(s) after I leave school, unless I have a deferment or a forbearance
• notifying the U.S. Department of Education's Direct Loan Servicing Center of anything that might alter my eligibility for an existing deferment
• attending classes and making satisfactory academic progress as defined by my school.

I understand that I am receiving a loan from the federal government that must be repaid.

Grad PLUS Loans

Graduate students may begin applying for the Grad PLUS loan for the 2021-2022 academic year on May 15, 2021 when the next academic year becomes available on Note: Credit decisions are valid for 180 days.

Federal Direct Grad PLUS Loans are available to graduate students in addition to the Federal Direct Unsubsidized Loan. Individual eligibility is determined by subtracting all financial aid awards for the academic year from the cost of attendance. Financial need is not a requirement, but students must complete the FAFSA before applying for this loan. Students must apply and be credit approved for this loan each year. Visit for additional information on interest rates, origination fees, and repayment options for the PLUS loan.

Students may apply for the Federal Direct Grad PLUS Loan at . Sign in using your FSA ID. Once you are approved, you will be able to electronically sign your Master Promissory Note (MPN).

Parents may begin applying for the Parent PLUS loan for the 2021-2022 academic year on May 15, 2021 when the next academic year becomes available on Note: Credit checks are only valid for 180 days.

Federal Direct PLUS Loans are available to parents who have a dependent child in college. Individual eligibility is determined by subtracting all financial aid awards for the academic year from the cost of attendance. Financial need is not a requirement, but parents must complete the FAFSA before applying for this loan. Parents must apply and be credit approved for this loan each year. Credit approvals are valid for 90 days. For additional information on interest rates, origination fees and repayment options for the PLUS loan visit .

Parents may apply for the Federal Direct Parent PLUS Loan at . Sign in using your FSA ID. Once you are approved, you will be able to electronically sign your Master Promissory Note (MPN).

Federal Direct Loans will go into repayment six months after graduation or if the student falls below half-time enrollment status.

These loans are repaid to the loan servicer designated by the Department of Education. Borrowers are required to complete Entrance Counseling prior to borrowing loans and Exit Counseling upon graduation or enrollment below half-time.

Federal Perkins Loans will go into repayment nine months after graduation or if the student falls below half-time enrollment status. These loans are repaid to 17cÆð²ÝÊÓƵ through our Perkins Loan servicer, .

You may access entrance and exit counseling links for Direct and Perkins loans at the links below or via .