Loans are one of the three major types of student aid. Unlike grants and work study which do not have to be repaid by the student, loans are a form of aid that must be repaid after graduation or when attendance drops below half-time status (minimum of 6 credit hours).

The following types of federal loans are available to students and/or their parents.  If you decide to borrow always think federal aid first!  All students must complete a FAFSA online at  to take advantage of federal loans.   The FAFSA must be completed every academic year.  More information is available by clicking on a specific loan program.

Federal Loan Program

Who May Borrow?

Federal Direct Subsidized Loan

Undergraduate Students*

Federal Direct Unsubsidized Loan

Undergraduate & Graduate Students

Federal Direct Parent PLUS Loan

Parents of Dependent Undergraduate Students

Federal Direct Graduate PLUS Loan  

Graduate Students

Federal Perkins Loans  

Undergraduate or Graduate Students with exceptional financial need

*Direct Subsidized Loans are no longer available to graduate students for loan periods that begin on or after July 1, 2012.  The annual loan limit has not changed.

Federal Loan Application Deadlines All federal loans must be accepted in Banner and originated before the student ceases to be enrolled at least half-time (6 credits) or the semester ends, whichever happens first.  For more information about loan deadlines, please contact us at (716)-878-4902 or at