Loans

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Undergraduate Students | Graduate Students

Federal Loans for USF Undergraduate Students

Federal Perkins Loan:  The Federal Perkins Loan is a deferred payment, deferred interest loan administered by the Financial Aid Office.  Interest rate of 5% per annum begins to accrue, and repayment begins, 9 months after the borrower graduates, leaves school or drops below half-time enrollment.  Repayment period may be extended up to 10 years.  Funds are limited and will be offered first to aid applicants who file a timely application (February 15 for new applicants, March 2 for continuing students for the following academic year) and demonstrate the greatest need. The FAFSA is required.

Nursing Student Loan:  The Nursing Student Loan is a deferred payment, deferred interest loan administered by the Financial Aid Office and funded by the Federal Department of Health and Human Services to assist students enrolled in nursing programs. Interest rate of 5% per annum begins to accrue, and repayment begins, 9 months after the borrower graduates, leaves school or drops below half-time enrollment.  Repayment period may be extended up to 10 years.  Funds are limited and will be offered first to nursing students who file a timely application (February 15 for new applicants, March 2 for continuing students for the following academic year) and demonstrate the greatest need. The FAFSA is required.

William D. Ford Federal Direct Loan Program: Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, and Direct Plus Program are student loan programs under the William D. Ford Federal Direct Loan Program.  These loans are made to students who are enrolled in a USF degree program on at least a half-time basis.   The U.S. Department of Education is the lender and loan funds are delivered directly to USF students' accounts through the Bursar's office.

To apply for aid from the William D. Ford Federal Direct Loan Program, students must first complete the Free Application for Federal Student Aid (FAFSA).  After USF receives the FAFSA information electronically, the Financial Aid office will determine students' eligibility and award letters will be mailed to them. Direct Student loans are electronically originated with the Department of Education as soon as USF Financial Aid Office receives the students' acceptance of their financial aid, including Direct loans, and pre-printed promissory notes will be mailed to students' mailing address. Students must complete and sign their promissory notes and be enrolled in classes before receiving their first Direct Loan disbursements.

Federal Loans for USF Graduate Students

William D. Ford Federal Direct Loan Program: Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, and Direct Plus Program are student loan programs under the William D. Ford Federal Direct Loan Program.  These loans are made to students who are enrolled in a USF degree program on at least a half-time basis.   The U.S. Department of Education is the lender and loan funds are delivered directly to USF students' accounts through the Bursar's office.

To apply for aid from the William D. Ford Federal Direct Loan Program, students must first complete the Free Application for Federal Student Aid (FAFSA).  After USF receives the FAFSA information electronically, the Financial Aid office will determine students' eligibility and award letters will be mailed to them. Direct Student loans are electronically originated with the Department of Education as soon as USF Financial Aid Office receives the students' acceptance of their financial aid, including Direct loans, and pre-printed promissory notes will be mailed to students' mailing address. Students must complete and sign their promissory notes and be enrolled in classes before receiving their first Direct Loan disbursements.

The combined annual loan limit for graduate student borrowers from both the Stafford Subsidized and Unsubsidized loan program is $20,500.

Federal Plus Loans For Graduate and Professional Students

The Budget Reconciliation Act of 2005, passed by the Congress and signed by the President in March 2006, authorizes graduate and professional students to borrow from the Federal Direct PLUS program.

The Federal Direct PLUS program allows eligible graduate and professional students to borrow up to the cost of attendance less any other aid they’ve been awarded. To be eligible to borrow from PLUS, graduate and professional students must file the Free Application for Federal Student Aid (FAFSA) and must first borrow from the Subsidized and/or Unsubsidized Federal Student Loan program. Among the features of the PLUS program is a fixed 7.9% interest rate, in-school payment deferment, and fixed monthly payments. PLUS loans can be consolidated with other federal student loans and may be a good alternative to private education loan programs for some student borrowers.

If you are interested in Grad PLUS loan, please go to our web page at

http://www.usfca.edu/acadserv/academic/finaid/forms.htm

select the appropriate PLUS Loan Pre-Application for your particular degree program, complete and return it to your financial aid office.