FAQs on Student Loans

Dependent Undergraduates
Under the Federal Direct Loan Program: freshmen may borrow up to $3,500, sophomores up to $4,500 and juniors/seniors up to $5,500 per academic year in the Subsidized Direct Loan. Under this program students may also borrow an additional $2,000 each academic year in the Unsubsidized Direct Loan. To review the next steps please visit our Federal Direct Loan Programs website.

Independent Undergraduates
Under the Federal Direct Loan Program independent undergraduates have the same borrowing limits as dependent undergraduates for the Subsidized Direct Loan. However, under this program independent students may borrow more than dependents in the Unsubsidized Direct Loan: freshmen and sophomores may borrow up to $6,000 and juniors and seniors up to $7,000 per academic year. To review the next steps please visit our Federal Direct Loan Programs website.   

Graduate Students
Graduate students attending at least on a half-time basis may borrow up to a total of $20,500 in the Federal Unsubsidized Direct Loan per academic year. To review the next steps please visit our Federal Direct Loan Programs website.

Note: Award amounts will be reduced if students are enrolled for less than full-time enrollment.

There are processing fees:

All loans are subject to fees that are paid to the federal government to offset administrative and insurance costs. Fees are deducted proportionately from each disbursement. These are called origination fees. To see the current origination fees for Direct Loans for Direct PLUS Loans please visit:

• Direct Loan Programs
• Parent PLUS Loan Program

There are special disbursement terms for these loans:  

Your loan will be disbursed in two or more installments. Loan proceeds are sent directly to the University, either by electronic transmission or check. You will be notified when the funds arrive.

The term subsidized means that the U.S. Department of Education pays the interest on a Direct Subsidized Loan

The term unsubsidized means that the student, rather than the federal government, will be responsible for paying the interest on a Direct Unsubsidized Loan during all periods.

In general, repayment begins after you graduate, leave school, or drop below half-time enrollment, following any applicable grace period. You can review federal student loan repayment basics and options on the Federal Student Aid's Student Loan Repayment webpage.

Direct Loan(s)

Student loan borrowing is limited by annual and aggregate (lifetime) loan limits. Your eligible loan amount can be found on your financial aid offer in SHUAwards. If you choose to borrow, we recommend borrowing conservatively and only what you need. Be sure to review your Financial Aid Disclosure in SHUAwards. Loans may only be used for education-related expenses. You can also review your semester tuition and fees in your Student Account. Need help planning for the academic year? Contact us!

Direct Parent PLUS Loans

Parent borrowers may borrow up to $20,000 per student, with an overall aggregate amount of $65,000. If you are the parent of a current student who has borrowed federal loans and meet certain eligibility requirements, you may be able to borrow additional funds. The PLUS loan may only be used to pay for education-related expenses. Your student can authorize you access to their Student Account online to determine semester billed tuition and fee costs. Need help planning for the academic year? Contact us!

Direct Loans are typically divided into equal disbursements for each semester. You may review SHUAwards for the semester installment amounts of your loans. After the start of your classes (typically after the add/drop period), your loans will post to your Student Account. To be eligible for federal loan disbursement, you must initiate attendance, be enrolled at least half-time, and be meeting satisfactory academic progress. At least half-time is defined as 6 or more credits for undergraduate students and 3 or more credits for graduate students. All outstanding financial aid requests related to eligibility must be received as indicated in SHUAwards. When your loans disburse, you will receive a disbursement notification from the Office of Student Accounts, so it is important to stay connected and keep your contact information current.

If your federal aid exceeds your billed charges for the term, you will receive a refund of your credit balance within 14 days of aid disbursement. For more information, refer to the Student Accounts Credit Balance Processing webpage. Alternatively, you may elect to have the credit held for future academic year charges.

Changes in your enrollment status may impact your financial aid. Students who drop below full‑time status will have their loan amounts reduced in direct proportion to their enrollment. If you drop below half-time enrollment, you may be ineligible for federal loan disbursement.

It is important to keep your Financial Aid Counselor informed so that you can be advised concerning any changes to your aid eligibility. Before you make any decisions about dropping or withdrawing, please read our Financial Assistance Withdrawal Policy and go over the changes with your Financial Aid Counselor. Failed attendance (unofficial withdrawals) and official course withdrawals affect your satisfactory academic progress, which may also impact your aid eligibility.

After your loans disburse, you will be assigned a federal loan servicer who will manage the repayment of your student loans. Direct loan borrowers are automatically assigned to the 10-year standard repayment plan. However, there are several repayment plans available to Direct Loan borrowers. You may contact your loan servicer for information on the different repayment strategies and request an alternate repayment option.

Please visit the Federal Student Aid website and log in with your FSA ID. The My Aid page will display your loan history for federal student loans. Private loans are not included.