The Federal Direct Loan Program enables students to borrow money for educational expenses. There are two\u00a0types of direct loans: subsidized and unsubsidized. Subsidized loans have no interest charged while\u00a0the student is enrolled at least half-time. Unsubsidized loans accrue interest during all periods. All terms and\u00a0conditions of these loans will be provided when you complete the Entrance Counseling<\/a> and Master Promissory Note. (MPN)<\/a><\/p>\n Students applying for federal financial aid must be a United States citizen or a permanent resident alien with a valid FAFSA on file. For more information about eligibility, please visit: studentaid.gov<\/a><\/p>\n <\/p>\n The loan will not<\/strong> accrue interest while the student is enrolled at least part-time.<\/p>\n Interest Rate:<\/strong> Fixed Rate- 6.53%<\/p>\n Repayment:<\/strong> You do not need to start repayment until:<\/p>\n The loan will begin to accrue interest after disbursement.<\/p>\n Interest Rates:<\/strong> Fixed rate- 6.53%<\/p>\n Repayment:<\/strong> You do not need to start repayment until:<\/p>\n A loan taken by the parent of a dependent student for educational expenses which accrues interest until the loan is paid in full. A credit check is required as part of the application process and the amount requested can not exceed the cost of attendance. View the parent plus loan application<\/a>.<\/p>\n Interest Rates:<\/strong> Fixed Rate – 9.08%<\/p>\n Repayment:<\/strong> Borrower must contact their loan servicer to explore repayment options.<\/p>\n<\/div>\n Unsubsidized Loans accrue interest during all periods.<\/p>\n Interest rate:<\/strong> Fixed Rate – 8.08%<\/p>\n Repayment:<\/strong> You do not need to start repayment until:<\/p>\n A loan taken by a graduate student enrolled in a master’s program for educational expenses. Interest is charged on this loan starting from the day of disbursement. A credit check is required as part of the application process. View the graduate plus loan application<\/a>.<\/p>\n Interest rate:<\/strong> Fixed Rate – 9.08%<\/p>\n Repayment:<\/strong> Borrower must contact their loan servicer to explore repayment options.<\/p>\n<\/div>\n<\/div>\n <\/p>\n <\/p>\n Students who are looking to cover the cost of education may be interested in private loans. While we recommend exhausting your federal loan options first, students may opt to use private loans to fund their education. The ability to receive a private loan is based on the credit rating of the borrower and their co-signer. Eligibility, interest rates and the terms and conditions for each loan are dependent on the lender. Students can work directly with the lender of their choice to determine the best situation for them.<\/p>\n List of lenders.<\/a> Types of Federal Aid The Federal Direct Loan Program enables students to borrow money for educational expenses. There are two\u00a0types of direct loans: subsidized and unsubsidized. Subsidized loans have no interest charged while\u00a0the student is enrolled at least half-time. Unsubsidized loans accrue interest during all periods. All terms and\u00a0conditions of these loans will be provided Find out more »<\/a><\/p>\n","protected":false},"author":245,"featured_media":0,"parent":7,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"footnotes":""},"class_list":{"0":"post-33","1":"page","2":"type-page","3":"status-publish","5":"entry"},"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.smcm.edu\/osfa\/wp-json\/wp\/v2\/pages\/33","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smcm.edu\/osfa\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.smcm.edu\/osfa\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.smcm.edu\/osfa\/wp-json\/wp\/v2\/users\/245"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smcm.edu\/osfa\/wp-json\/wp\/v2\/comments?post=33"}],"version-history":[{"count":10,"href":"https:\/\/www.smcm.edu\/osfa\/wp-json\/wp\/v2\/pages\/33\/revisions"}],"predecessor-version":[{"id":903,"href":"https:\/\/www.smcm.edu\/osfa\/wp-json\/wp\/v2\/pages\/33\/revisions\/903"}],"up":[{"embeddable":true,"href":"https:\/\/www.smcm.edu\/osfa\/wp-json\/wp\/v2\/pages\/7"}],"wp:attachment":[{"href":"https:\/\/www.smcm.edu\/osfa\/wp-json\/wp\/v2\/media?parent=33"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Eligibility<\/h3>\n
Subsidized Student Loans (Need Based):<\/h2>\n
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Unsubsidized Student Loans (Non-Need Based):<\/h2>\n
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Federal Parent Plus Loan:<\/h2>\n
Federal Unsubsidized Graduate Loan:<\/h2>\n
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Federal Graduate PLUS Loan:<\/h2>\n
Private Alternative Loans<\/h2>\n
\n*You may use a loan\/lender that is not provided on this list.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"