- Loan program (must be repaid) for parents of dependent students.
- Repayment begins within 60 days of the disbursement and the minimum monthly payment is $50 to $60 for each loan.
- Offers up to $4,000 annually
- Rate of interest is variable and by law, will never exceed 9 percent.
- NOT based on financial need.
- Application are available at Federal Direct Lending.
- See Student Loan Default Prevention Program.
A student must...
- Be enrolled at least 6 credit hours in an eligible program. (If you are enrolled at least 6 credit hours per semester, you will receive the total amount of your
loan awarded each semester.)
- Complete Free Application for Federal Student Aid (FAFSA)
- If you are applying for the Fall 2014, Spring 2015 or Summer 2015 semester, complete the 2014-15 FAFSA. If you are applying for the Fall 2015, Spring 2016 or Summer 2016 semester, complete the 2015-16 FAFSA.
A parent must...