Federal Direct Student Loans

1. Subsidized loans are awarded on the basis of financial need. Interest is deferred prior to repayment beginning and during authorized periods of deferment.
2. Unsubsidized loans are not awarded on the basis of need. Interest is charged from the date the loan is disbursed until the loan is repaid.

First-time borrowers awarded the Direct subsidized loan on or after July 1, 2013 are subject to the 150% Direct Subsidized Loan Limit (SULA), which limits the amount of time a student is eligible to borrow subsidized loans to 150% of their published program length.

Federal Direct PLUS Loans

PLUS loans enable parents with good credit histories to borrow funds for educational expenses for each dependent child. PLUS loan applications may be completed through www.studentaid.gov. PLUS borrowers must also complete the Credit Check and sign a Master Promissory Note (MPN) using your FSA User ID and password at www.studentaid.gov.

Loan Limits

1. Freshmen can receive up to $3500 in subsidized loans per academic year, or $1750 per semester.
2. Sophomores can receive up to $4500 in subsidized loans per academic year, or $2250 per semester. (Students must have earned 32 hours to be considered a sophomore)
3. Dependent students may qualify for an additional $2000 in unsubsidized loans per academic year, or $1000 per semester.
4. Independent students may qualify for an additional $6000 in unsubsidized loans per academic year, or $3000 per semester.

**Loan amounts are subject to change based on SULA limits and Cost of Attendance**

Loan Application Process

1. Complete the Free Application for Federal Student Aid (FAFSA) at www.studentaid.gov.
2. Once the FAFSA is received and the student meets all SAP and all Financial Aid requirements have been satisfied, a Loan Offer will be made available on the student’s MySUSCC student portal.
3. Students will accept the offer on their MySUSCC student portal.
4. Complete Entrance Counseling and sign a Master Promissory Note (MPN) at www.studentaid.gov.
5. Balances due to the student will be disbursed by check. Students must keep address current with Admissions to avoid any delays in receiving your loan disbursement.

When all required information is received and processed, students will receive an award notification from the Financial Aid Office. Direct Student Loan awards are initially made with the assumption of full-time enrollment each term. Your cost of attendance will be adjusted prior to disbursement each term when you enroll less than full-time. This downward adjustment in cost may require that the aid previously awarded may need to be reduced to comply with federal regulations.

Students can access and monitor all of their federal loan information, as well as loan servicer contact information, by visiting the National Student Loan Data System (NSLDS) website at www.nslds.ed.gov.