Important Note

Borrow only what is necessary to actually pay for your educational expenses

  • tuition and fees
  • books and supplies
  • housing and food
  • transportation

What is a loan?

Federal Stafford loans are guaranteed student loans, made available to eligible students through The William D. Ford Federal Direct Loan Program. The William D. Ford Direct Loan (Direct Loan) Program is the largest federal student loan program. Under this program, the U.S. Department of Education is your lender.  Federal loans are a form of financial aid that must be paid back. Federal Loans are considered financial aid because they are guaranteed and/or regulated by the federal government. Generally, loan funding is guaranteed from year to year. Students must submit the FAFSA each year and not exceed the federal limits. Eligibility for the loan type will be determined each year using FAFSA data. Students must also meet Satisfactory Academic Progress standards and minimum hour requirements.

Eligibility requirements

Recipients of federal loans must meet the following criteria:

  • Be a U.S. citizen or eligible non-citizen
  • Admitted to a degree seeking program, at least half-time (six credit hours) per term of disbursement.
  • Not be in default on a previous student loan or owe a repayment on a previous federal aid award received at any institution.
  • The student must maintain Satisfactory Academic Progress requirements as established by FSU. Satisfactory Progress requirements are published online here: Satisfactory Academic Progress
  • Neither student nor parent may be in default on a Federal loan or owe repayment on a Federal grant.

Loan Process

  1. Complete your FAFSA.
  2. Accept, Reduce, or Decline your loan offer as you need from your FSU Portal.
  3. Complete Loan Entrance Counseling and Master Promissory Note.
  4. Complete your Disbursement Permission online through your FSU Portal to authorize FSU to disburse your funds through electronic funds transfer to a bank account of your choosing. For more information, visit Student Business Services for disbursement permissions and refund account set up.

Federal Loan Interest Rates

More information about Federal Loan Interest Rates can be found here.

Loan Type Borrower Type Fixed Interest Rate
Direct Subsidized Loans and Direct Unsubsidized Loans Undergraduate 5.50%
Direct Unsubsidized Loans Graduate or Professional 7.05%
Direct PLUS Loans Parents and Graduate or Professional Students 8.05%

Last updated 11/15/2023

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