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Loan FAQs

The general FAQs below are applicable to federal student loans (subsidized, unsubsidized, Graduate PLUS, and Parent PLUS).

For more FAQs specific to each loan, visit the Subsidized and Unsubsidized, Parent PLUS, and Graduate PLUS loan pages.


How Many Credit Hours Do I Need to Take for Federal Loans?

Students must be enrolled at least half-time (based on their level) in federal aid-eligible courses for federal loans to disburse.

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What Are the Interest Rates on Federal Loans?

Interest rates on federal loans are fixed, meaning the interest rate on the amount borrowed fo an academic year will remain the same for the life of the loan. Interest accrues from the date the loan funds are disbursed until the loan is fully repaid.

Additional information on interest rates, fees, and calculation can be found at studentaid.ed.gov/sa/types/loans/interest-rates.

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Am I Charged Interest on My Loans While I Am Enrolled?

Interest accrues on unsubsidized and PLUS loans - even if you are enrolled half-time. For information on how interest accrues on federal loans and how you can pay that interest to help keep your loan debt down, visit studentaid.ed.gov/sa/types/loans/interest-rates

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Are There Additional Fees?

Yes, a processing fee is retained by the federal government for federal loans. It is a percentage of the amount of the loan, and it is deducted before the loan disburses to the institution. This means the loan amount accepted and borrowed will be different from the amount that disburses.

Fees for the current aid year can be found at studentaid.ed.gov/sa/types/loans/interest-rates#fees. Fees vary based on the date the loan disburses.

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Where Can I Find Information on How Much I Have Borrowed, My Interest Rates, and My Loan Servicer?

You can monitor your federal loan debt, interest rates, and find your federal loan servicer by logging into the National Student Loan Data System with your Federal Student Aid ID (FSA ID).

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Can I Return My Loans?

A borrower has 120 days to return any portion of a federal loan to the institution without being assessed any interest or fees on the amount return. If you want to return some of your loans past the 120 days, please contact us. We may still be able to reduce your loan. However, there may be interest or fees assessed by the federal government.

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When Do I Have to Repay My Federal Loans?

You do not begin repaying most federal student loans until after you leave college or drop below half-time enrollment. However, PLUS loans enter repayment once your loan is fully disbursed. Please note that students may have a grace period to allow them to prepare for loan repayment. For more information on repayment and grace periods, visit studentaid.ed.gov/sa/repay-loans/understand.

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