Federal Direct

 

 


 

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    Federal Direct Loan Program

    Annual Federal Stafford  and Grad Plus Loan Limits

    Graduate and Professional Students Enrollment/Loan periodFederal Stafford Annual

    Unsubsidized Loan Limits

     Federal Grad Plus Loan Limits
    DDS Program Year 1 & 210 months$42,722Up to the top of the budget
    DDS Program Year 3 & 411 months$44,944Up to the top of the budget
     
    Advanced Certificate Programs: Endo, Ortho, Perio: Year 111 months$20,500Up to the top of the budget
    Advanced Certificate Programs: Endo, Ortho, Perio: Continuing
    12 months$20,500Up to the top of the budget
        


     

    Program Name

    Program Detail

    How to Apply

    Federal Direct UnSubsidized Stafford Loan

    Loan must be repaid.

    Satisfactory Academic Progress is a requirement.

    This loan is available to students who are enrolled at least half-time (6 credits per semester) in an eligible program leading to a degree or certificate.

    Financial need is NOT a requirement.

    The federal government does NOT pay the interest on this loan while you are in school; instead, you are responsible for the interest during the life of the loan. You can choose to pay the interest or allow it to accrue (accumulate) and be capitalized (that is, added to the principal amount of your loan). Capitalizing the interest will increase the amount you have to repay.

    This loan has an origination fee of 1.072%. Therefore, 98.93% of the gross loan will be disbursed to the school.

    The interest rate on an unsubsidized Stafford loan is fixed at 5.41%.

    Repayment begins 6 months after you graduate or are no longer enrolled for 6 or more credits. Payments are made to the U.S. Department of Education's Direct Loan Servicing Center.

     

    1. File a FAFSA.

    2. Accept the offered loan in your financial aid award package on the Solar System.

    3. If you are a first time Direct Loan borrower, complete the Federal Direct Loan Master Promissory Note (MPN) on-line at www.dlenote.ed.gov.

    4. First time Stafford loan borrowers must complete entrance counseling on-line at www.dl.ed.gov.

    Federal Direct Graduate/
    Professional PLUS Loan

    Loan must be repaid.

    Satisfactory Academic Progress is a requirement.

    This credit-based federal loan is available to graduate/professional students who are enrolled at least half-time (6 credits per semester) in an eligible program leading to a degree or certificate and who have applied for the annual maximum loan eligibility under the Federal subsidized and unsubsidized Stafford Loan Programs.

    The loan is funded through the Federal Government at a fixed interest rate of 6.41%.
    The annual loan limit is the student's cost of attendance minus any anticipated financial aid.

    This loan has an origination fee of 4.288%.  Therefore, 95.71% of the gross loan will be disbursed to the school.

    Repayment begins 60 days after final loan disbursement unless a deferment is granted through the Direct Loan Servicer.

    1. File a FAFSA.

    2. Accept the offered loan in your financial aid award package on the Solar System.*

    3. If you are a first time Direct PLUS Loan borrower, complete the Federal Direct Loan Master Promissory Note (MPN) for Graduate PLUS on-line at www.dlenote.ed.gov.

    4. First time Grad PLUS loan borrowers must complete entrance counseling on-line at www.dl.ed.gov.

    *Note: Borrowers are subject to an approved credit check by the U.S. Department of Education.

    Aggregate Stafford Loan Limits (Total Cumulative Loan Amounts)

    Dental Students – DDS Program

    $224,000

    Graduate and Professional Students-

    Includes Post Doctoral: Endo, Ortho, & Perio

    $138,500