Financial Aid 

At the time of disbursement you must be
enrolled and attending as a half-time student (6 credit hours for
undergraduate and 5 credit hours for graduate).

Direct Loans:

Direct Subsidized Loans 

Low interest loan that must be repaid and is based on financial need and grade level. Students must be enrolled part-time (6 semester hours for undergraduate students and 5 semester hours for graduate students) . The government pays the interest for the student while they are in school.

Direct Unsubsidized Loans 

Not based on need. Unlike the Subsidized loan, students (not the government) are responsible for paying the interest while in school, during the six-month grace period, and during periods of authorized deferment. Loan repayment begins 6 months after you leave school at variable interest rates with up to 10 years to repay.

Direct Loan Maximums(1)
Annual Limits
Dependent Undergraduates(2)
Subsidized
Total (Subsidized and Unsubsidized)(3)
First Year
3,500
5,500
Second Year
4,500
6,500
Third Year and Beyond
5,500
7,500
   

Independent Undergraduates
(and dependents whose parents are unable to borrow under the Direct PLUS Program)

  
First Year
3,500
9,500
Second Year
4,500
10,500
Third Year and Beyond
5,500
12,500
   
Graduate and Professional Students
8,500
20,500
  1. Certain health professional students may qualify for higher limits.
  2. All undergraduate annual loan limits agree subject to proration.
  3. If the borrower does not show financial need for a Direct Subsidized Loan, or has reached their aggregate limit in Direct Subsidized Loans, the borrower may receive up to this entire amount in Direct Unsubsidized Loans assuming he or she has remaining eligibility for the loan.

Direct PLUS Loans 

Credit based loans for parents who may borrow up to the cost of attendance per year, for each child who is a dependent undergraduate student and is enrolled at least part-time. With a fixed interest rate of 8.5% accrual begins at disbursement. Repayment starts 60 days after the first loan check has been disbursed.  For more information regarding a Direct PLUS Loan, please go to Federal Student Aid's Direct Loans information for Parents website.  Before we can originate a PLUS loan, the student must have a completed FAFSA on file.

Direct Graduate PLUS Loans

Credit based loans for graduate students enrolled at least half-time (in at least 5 credit hours a semester). They may borrow up to the cost of attendance minus all other financial aid received.  With a fixed interest rate of 8.5% accrual begins at disbursement.  Repayment starts 60 days after the first loan check has been disbursed.   Before we can originate a Graduate PLUS loan, the student must have a completed FAFSA on file and already applied for the maximum eligibility of Direct Subsidized/Unsubsidized Loans.  To apply, you may go to StudentLoans.gov.

 

Private (Alternative) Loans 

Non-need based programs designed to assist in educational and living expenses based on a student's credit history.

Get more information.

Preferred Lender Selection & Criteria

Direct Deposit is now available!

Student Refund Checks

Student Payroll/Stipends

 

Sign Up Today!

Form Available Online

Return completed forms to 
Comptroller's Office, 207 Young Hall.

 

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When will I receive my loan funds?

The loan disbursement schedule is available online for 2014-2015.  These dates are “ANTICIPATEDnot guaranteed.  Funds will be received in two disbursements for the loan period.  A loan period may be the academic year which will have one disbursement in the Fall and one in the Spring.  If the loan period is for only one semester, there will still be two disbursements; one at the start of the semester and the other half way through the semester.  (Please refer to the disbursement schedule for the anticipated dates.)  

If you're a first-year undergraduate or a first-time borrower at our institution, you must complete entrance counseling and your first disbursement can't be made until 30 days after the first day of your enrollment period. 

To be eligible for the funds at the time of disbursement, a student must not be in a pre-claim status and must meet the credit hour enrollment requirement for their academic level. 

For the Federal Direct Loans students must have a completed MPN on file with the Department of Education, and a completed Entrance Counseling session prior to loan disbursement. 

Disbursement rosters will only be received once a week – every Monday.  Once the funds have been applied to your account (click here to check your account), the Student Accounts Receivable Office per federal regulations has 14 days to issue the student/parent a refund from any excess funds received of the total bill.  For more information on refunds, please contact the Student Accounts Receivable Office at (573) 681-5278.  Refund information is also available online at: https://bluetigerportal.lincolnu.edu/web/student-accounts/refund-information.