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Student Loans

Direct Lending Information

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Direct Loan (Federal Stafford)

There is a grace period of 6 months after graduation or dropping below half-time attendance before repayment of the principal of the loan begins. Loan amounts are awarded based on grade level and cannot exceed the established cost of attendance for the school, including other aid received. Your awards may include both subsidized and unsubsidized loans.

Direct Subsidized Loans

Subsidized loans are awarded on the basis of financial need as determined by the Free Application for Federal Student Aid (FAFSA). With a subsidized loan, the federal government pays interest on the student loan during:

• At least half-time enrollment in school,
• The six-month grace period after the student is no longer enrolled on at least a half-time basis
  
  

Direct Unsubsidized Loans

Student borrowers may qualify for this type of loan regardless of need or income. With unsubsidized loans, the student is responsible for interest that accrues on the loan from the time the loan is disbursed until it is paid in full. You may choose to pay the interest as it accrues while you are enrolled, or you may defer the interest payments and allow them to accumulate (capitalize). You can choose to pay the interest as it accrues while you are enrolled, or you may defer the interest payments and allow them to accumulate (capitalize). If you choose to pay the interest as it accumulates, you will ultimately repay less. If you defer the interest, it will capitalize, which will result in an increase in student loan debt and monthly payments.

Direct Loan Eligibility

In addition to the FAFSA, the following eligibility requirements must be met in order to qualify for a Federal Direct Student Loan:

• Half-time enrollment at an eligible institution, such as TSU, in an eligible degree seeking program
  听听听听 - 6 hours for undergraduate students, and 5 graduate hours for graduate students
• Be a U.S. citizen or eligible non-citizen
• Maintain Satisfactory Academic Progress (SAP)
• Not be in default on an educational loan or overpayment on an educational grant
• Not have Title IV student loans that exceed the annual or aggregate loan limits

Student Loan Limits

Eligibility for all Federal Direct Loans will be based on cost of attendance, the estimated family contribution (EFC) as determined by FAFSA, other aid received, and the loan limits set by the U.S. Department of Education. Students may never qualify for more than the cost of attendance for the college or the annual loan limit. The charts below show the maximum amounts you may borrow.

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Undergraduate Student Loan - Annual Limits

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Graduate Student Loan - Annual Limits

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Loan Counseling

Entrance听 Counseling

The federal government听 requires 听all students that are first-time borrowers for the Federal Direct Stafford Loan and the Federal Direct Grad PLUS loan to complete an Entrance Counseling before their loan can be processed.听You will need your FSA ID/password to complete the online counseling. *Our office will electronically notified.

Exit Counseling

The听federal government requires all students who have stopped attending, applied to graduate (or whose enrollment has dropped below half-time) and have been a recipient of federal student loans. Repayment of federal student loans begins six months after graduation, or six months after a student is no longer enrolled at least half-time.听This counseling is required for even if they plan to transfer to another school.听You will need your FSA ID/password to complete the online counseling. *Our office will electronically notified.

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Alternative (Private)听Loans

Alternative听student loans are privately funded loans that are NOT part of the federal student loan program. Private loans are generally more costly than federal loans and may be available to both students and parents who need assistance beyond their federal and state financial aid eligibility.听They are offered by banks, credit unions and other lending institutions. Each private loan lender determines the interest rates, fees and eligibility criteria.听 All private loans require a credit check to be performed to determine eligibility.听

Tennessee 福利影院最新网址 has electronic processing with these lenders which reduces processing time, however, we do not endorse or recommend any of these participants and the list is provided solely for your convenience.听You may choose a lender that is not on this list, however, you must provide us the certification information if you do so.听听

听听Once you click this link you will be taken to an external site titled "FASTChoice."听 Click "Continue" to review the borrowing essentials information which is 5 screens of information related to student borrowing.听 Once you have reviewed the information you will be taken to our custom lender list.听

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