William D. Ford Federal Direct Loan Program
Federal Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the US Department of Education rather than a bank or other financial institution. Repayment begins six months after completion or withdrawal from school. There are three types of loans available under this program:
- Direct Subsidized Loans are need-based. A student's eligibility to borrow is based on financial need as determined by the federal government which pays interest on the loan while the student is in school.
- Direct Unsubsidized Loans do not require a student to show financial need; however the cost of the student's education must exceed any other financial aid offered. The student, not the federal government, is responsible to pay all the interest that accrues on this loan.
- Direct PLUS Loans are loans a parent takes out in order to pay for their child's educational expenses. Contact the Financial Aid Office if you are interested in applying for a PLUS loan.
How to Apply
- Please log onto https://studentloans.gov. You will need your FAFSA PIN to sign into the site. If you do not remember your PIN, please log onto www.pin.ed.gov, and request a duplicate PIN. There is an option to have your PIN displayed immediately.
- You will need to complete the Entrance Counseling first. This will explain the loan process to you, as well as inform you about your rights and responsibilities as a borrower.
- You can then sign your Master Promissory Note. If you have trouble with this, please call 1-800-557-7394.
- There is also a paper application which you will need to complete and return to the Financial Aid Office:
Please click here for our list of Frequently Asked Questions.
If the answer to your question is not on this list, please call the loan desk in the Financial Aid Office at (425) 235-2352 x2051.