Federal Student Loans

Federal student loans are a form of financial aid that must be repaid with interest. They are funded by the U.S. Department of Education and offer students and families a way to cover the cost of higher education. These loans often have lower interest rates and more flexible repayment options compared to private loans.

Florida National University participates in the William D. Ford Federal Direct Loan Program, which includes the following types of loans:

Direct Subsidized Loans

• Available to undergraduate students with financial need.
• The U.S. Department of Education pays the interest while you are enrolled at least half-time, during the grace period, and during eligible deferment periods.
• Annual loan limits vary by year in school and dependency status.

Direct Unsubsidized Loans

• Available to undergraduate and graduate students; financial need is not required.
• Students are responsible for paying all interest, even while in school.
• If students choose not to pay interest while enrolled, it will accrue and be added to their loan balance (capitalized).

Learn more: https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

Direct PLUS Loans

Available to parents of dependent undergraduate students (Parent PLUS) and to graduate or professional students (Grad PLUS).

• Requires a credit check.
• The amount borrowed may cover up to the cost of attendance, minus other financial aid received.

  Borrowers may need to complete a separate PLUS Loan Application. https://studentaid.gov/plus-app/grad/landing

  • Request a Direct PLUS Loan.
  • Change the amount of a Direct PLUS Loan you previously requested; and
  • Authorize how the school may use your Direct PLUS Loan funds to pay for educational expenses.

• The information provided will be transmitted to the designated school. The selected institution will utilize the collected data to assess eligibility for a Direct PLUS Loan applicable to graduate or professional students and to process the application.

 Learn more: https://studentaid.gov/understand-aid/types/loans/plus