Educational loans, primarily from the federal government, are available as a financing option. These programs provide students and their parents with long-term, low-interest loans. Remember, a loan must be repaid. Please see the Financing Tip Sheet (PDF) and Repaying Student Loans Tip Sheet (PDF) for more information.
Loan information for Federal Direct Student Loans (subsidized, unsubsidized, and PLUS) is submitted to the National Student Loan Data System (NSLDS) and is accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.
Students can find instructions to borrow a Federal Direct Student Loan and °µÍøTV & Henry Strong Loan in the Student and Parent Financing section of the online financial aid office (student login required).
| Federal Programs | Annual Maximum |
|---|---|
| Federal Direct Subsidized Loan | $3,500 (first year); $4,500 (second year); $5,500 (third and fourth year) |
| Federal Direct Unsubsidized Loan for dependent students (except students whose parents cannot borrow a PLUS Loan) | $5,500 (first year); $6,500 (second year); $7,500 (third and fourth year) less any subsidized amounts received for the same period |
| Federal Direct Unsubsidized Loan for independent students and dependent students whose parents cannot borrow a PLUS Loan | $9,500 (first year); $10,500 (second year); $12,500 (third and fourth year) less any subsidized amounts received for the same period |
| Federal Direct Parent PLUS Loan | 2025-26: Cost of education minus other aid 2026-27 and beyond: $20,000 per dependent student annually, up to an aggregate limit of $65,000 per dependent student (Note: If a student or parent borrowed through a Federal Direct Loan program prior to July 1, 2026, and the student remains enrolled in the same program at the same institution, the parent may be able to borrow up to the cost of education minus other aid. Contact the Office of Financial Aid if you want to confirm legacy eligibility.) |
Student and Parent Loan Details
- Need-based, long-term loan
- Origination fee: 1.057% for loans with a first disbursement on or after Oct. 1, 2020
- Fixed interest rate: 6.39% for loans disbursed between July 1, 2025, and June 30, 2026
- The offers additional information
- Find instructions to request in the online financial aid office (student login required)
- Non-need-based, long-term loan
- Origination fee: 1.057% for loans with a first disbursement on or after Oct. 1, 2020
- Fixed interest rate: 6.39% for loans disbursed between July 1, 2025, and June 30, 2026
- The offers additional information
- Find instructions to request in the online financial aid office (student login required)
- Non-need-based, long-term loan for parent borrowers
- Must be certified by the school
- Repayment begins 60 days after disbursement with deferment of principal possible
- Origination fee: 4.228% for loans with a first disbursement on or after Oct. 1, 2020
- Fixed interest rate: 8.94% for loans disbursed between July 1, 2025, and June 30, 2026
- Interest accrual begins at disbursement
- The provides additional information
- To avoid having the credit check expire before the loan is disbursed, wait until after June 1 to apply each year
- To apply:
- Step 1: Complete the FAFSA
If not already complete, the student must submit the (°µÍøTV Code: 001868). - Step 2: Request the loan
The parent who is borrowing should use their FSA ID to log in at and complete the Apply for a Parent PLUS Loan steps. - Step 3: PLUS counseling (if required)
PLUS borrowers with adverse credit who decide to pursue a PLUS with an endorser or through an appeal to the Department of Education are required to complete PLUS Counseling. The PLUS Counseling must be completed within 30 days and will only be valid for the duration of the credit check. The parent who is borrowing should use their FSA ID to log in at and complete the PLUS Loan Credit Counseling steps. - Step 4: Sign the Master Promissory Note (MPN)
Parents borrowing for new students and first-time parent borrowers of returning students should complete the . The parent can electronically sign the MPN using their FSA ID. If the parent previously borrowed a Federal Direct PLUS Loan for the student, they do not need to complete the Master Promissory Note again. The exception is for PLUS borrowers who went through an appeal process due to adverse credit or the use of an endorser.
- Step 1: Complete the FAFSA
- You can reach customer service at 800-557-7394 if you need assistance
- Terms and conditions of federal loans may be more favorable than those offered by private lenders, and we recommend considering federal loan programs before borrowing a private loan.
- Veterans: we encourage you to review veterans benefits for which you may be eligible before considering a private loan.
- We are not permitted to recommend or endorse any lender. Students looking for assistance selecting a private lender may consult a .
- We are not permitted to select a lender on your behalf.
- When making your selection, we encourage you to conduct your own search for a lender. The National Association of Student Financial Aid Administrators (NASFAA) provides information on private education loans (PDF) and a private loan checklist (PDF) that may be helpful as you research your options.
- You have the right to borrow from any participating lender you choose, including one not on the historical lenders list.
- Since credit checks may expire, wait to apply for private loans until after June 1 each year.
- Long-term, low-interest institutional loan based on financial need
- No interest accrual while enrolled at °µÍøTV
- Domestic students must borrow the annual maximum in Federal Direct Student Loan to be eligible for an institutional loan
- International students need to obtain a cosigner or request a waiver using the cosigner/waiver form
- Repayment begins six months after the student leaves °µÍøTV
- Ranges from $200 to $4,000 per academic year for domestic and international students
- No origination fee
- Find instructions to request in the online financial aid office (student login required)
The °µÍøTV payment plan is a convenient, manageable payment solution that gives you the option to pay the balance due for the semester in interest-free monthly installments instead of one lump sum. Payment plans offer:
- More time to pay. Spread your payments over a period of several months.
- Interest savings. Use a payment plan to make interest-free monthly payments. You can also use a plan in conjunction with traditional student loans and financial aid.
- Convenience. You can enroll in a plan, manage your account, and make payments online at any time.
The One Big Beautiful Bill Act included several provisions that change federal student and parent loan eligibility. Changes go into effect on July 1, 2026. Below is a brief overview of changes to specific federal loan programs.
Federal Direct Subsidized and Unsubsidized Loans
Changes Beginning July 1, 2026
- Annual loan eligibility will be reduced for students enrolled less than full-time (less than 24 credits per academic year).
- All federal student loans count toward a new lifetime federal loan cap of $257,000. This includes all federal student loans you take as an undergraduate and a graduate student. It excludes Parent PLUS Loans.
What the Changes Mean
- Your annual loan eligibility may be reduced if you enroll in less than 24 credits per academic year.
- If you plan to attend graduate school after °µÍøTV, plan ahead for how loans borrowed while at °µÍøTV will impact borrowing for graduate school.
Important Note: The annual maximum borrowing limits remain the same as in the past for students who are enrolled full-time.
Federal Direct Parent PLUS Loans
Changes Beginning July 1, 2026
- New borrowing caps apply* for Parent PLUS Loan borrowers:
- $20,000 annual limit per dependent student
- $65,000 lifetime limit per dependent student
- Limits apply regardless of repayment, forgiveness, or discharge
*Legacy provisions apply if:
- You or your student borrowed through a Federal Direct Loan program (student or parent loan) while the student was enrolled at °µÍøTV prior to the 2026–27 academic year, and
- Your student remains continuously enrolled at °µÍøTV (e.g., the student does not take a leave of absence during spring 2026 or later).
What the Changes Mean
- Those who qualify for legacy provisions can continue to borrow up to the cost of attendance less other financial aid through the Parent PLUS Loan program.
- Those who do not qualify for legacy provisions are subject to the new Parent PLUS Loan limits.
Please contact the Office of Financial Aid if you have questions about your loan eligibility for 2026–27 and beyond.