The University of San Francisco: Online Education

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. Borrowers of the Federal Nursing Student Loan will be required to complete the Student Loan Self-Certification form and submit it to the USF Office of Financial Aid. Instructions on completing this form are available by clicking here . In addition, borrowers of this loan must be sent a series of Loan Disclosure forms before disbursement of the loan is allowed. The Federal Nursing Student Loan Program Application/Solicitation Disclosure Statement can be viewed at any time.

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 Student Accounts 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 or emailed 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. Additional requirements will include the completion of on line promissory notes and loan entrance counseling. Students must complete these requirements and be enrolled in classes before receiving their first Direct Loan disbursements.