Student Loans

Understanding Student Loans

Loans are a type of financial aid that can help you cover college costs of attending college. Loans are different from grants and scholarships because you have to repay loans after you leave school or drop below half-time enrollment.

This page explains the types of loans available to 吃瓜网 Atlantic students, how to apply for them and what you need to know about repayment.

Federal Student Loans

Federal student loans tend to have lower interest rates and flexible repayment options, so many students choose them first.

Federal student loans include:

  • Direct Subsidized Loans
    These are available to undergraduate students who demonstrate financial need. The federal government pays the interest while you鈥檙e in school at least half time.
  • Direct Unsubsidized Loans
    These are available to undergraduate and graduate students regardless of financial need. You are responsible for the interest from the time the loan is disbursed.

Federal loan amounts are determined by annual limits and your cost of attendance.

How to Apply for Loans

Federal student loan applications require a few steps.

  1. Complete the , every year.
  2. Review your financial aid offer in to see if loans are included and what amounts you鈥檙e eligible for.
  3. Accept the loans you want in and complete any entrance counseling that may be required before you can receive the loans.
  4. Complete a for federal loans; you must complete the MPN before your funds can be released.

Loan Counseling 鈥� What You Need to Know

Federal student loans require entrance counseling before your first disbursement. This is an online session that explains:

  • Your loan terms
  • How interest works
  • Your repayment responsibilities
  • What happens if you drop below half-time enrollment

You must complete entrance counseling before your loan funds can be released.

Loan Types and Options

What you need to know about Loans

Loans are a form of financial aid that MUST be repaid.听 FAU encourages students to only borrow what is needed to cover their cost of attendance for the academic year.听

Use the My吃瓜网Future as a resource to determine earnings over time, typical loan amounts, and loans over time. . The College Scorecard provides additional information regarding cost, graduation rates, and median earnings.

Students who enroll less than full time for the academic year will have reduced annual loan eligibility. For undergraduate students, full time for the academic year is defined as 24 credits. For graduate students, full time for the academic year is defined as 18 credits.

This means that if you enroll less than full time, the Financial Aid Office will determine the maximum amount of loans that you can borrow for the year based on your actual enrollment and may be required to reduce your loan. Withdrawing from courses may also result in reduced loan eligibility for the year.

This rule applies to Direct Subsidized Loans, Direct Unsubsidized Loans, and Graduate PLUS Loans. It is still required that students must be enrolled in a minimum of half time to receive a loan. 听

Information regarding a student鈥檚 Federal Direct loans will be submitted to the National Student Loan Data System (NSLDS) database. By logging into and viewing their individual dashboard, students are able to access their loan history by guaranty agencies, lenders, and schools (determined to be authorized users of this system). Students should monitor this information to ensure accuracy of data as well as progression toward their relevant .

Loan process steps must be completed at least two weeks prior to disbursement to ensure that you receive your funds in a timely manner, with the exception of the Short Term Advance.

Federal Direct Loans

These loans are available to undergraduate and graduate students who enroll at least half-time. Subsidized Federal Direct Loans are offered to undergraduate students demonstrating financial need. Students are not responsible for interest accrued on Subsidized Direct Loans while in school. Unsubsidized Federal Direct Loans are offered to students who do not qualify for the Subsidized Direct Loan or do qualify and are still in need of additional funding. Students are responsible for interest accrued on Unsubsidized Direct Loans while in school. Annual Direct Loan borrowing limits for dependent undergraduate students are $5,500 for freshmen, $6,500 for sophomores, and $7,500 for juniors and seniors.听 Independent undergraduate students may borrow additional Direct Unsubsidized Loans beyond the above stated limits (additional amount depends on academic standing). Graduate students may borrow up to $20,500 per year in Unsubsidized Direct Loans. Repayment of principal and accrued interest begins six months after the student graduates, withdraws, or drops below half time enrollment. There is no penalty for accepting a partial loan amount.

  • Federal Loan Fees & Interest Rates
    • Required for first-time federal loan borrowers and may also be required for some students who have received prior federal loans in the past.
    • Students who have received Federal Direct Loans must complete Exit Counseling prior to leaving the University
  • (To view financial aid history)

Total and Permanent Disability Discharge

Those who qualify for a TPD discharge would not have to repay included William D. Ford Federal Direct Loan (Direct Loan) Program loans, Federal Family Education Loan (FFEL) Program loans, and Federal Perkins Loans, and for those students who received a TEACH Grant, a TPD discharge would also relieve you of your TEACH Grant service obligation.

Some borrowers may automatically qualify for TPD, but others may need to submit an application. Borrowers seeking a disability discharge should visit the TPD web site for more information.

Federal Direct PLUS Loans

The Federal Direct PLUS Loan is a low interest loan available to assist the parents of dependent students admitted and enrolled in an undergraduate degree program or graduate students admitted and enrolled in a graduate degree program. To be eligible for the Direct PLUS Loan, the parent borrower or the graduate student borrower should have no adverse credit history.

IMPORTANT CHANGES

Current Parent PLUS Borrowers
 If you (the borrower/parent) meet the relevant , you may be allowed to continue borrowing under the current guidelines for another 3 years or for the remainder of your currently enrolled undergraduate dependent student鈥檚 academic program (which is calculated by subtracting the number of years they've attended from the full-time length of the program), whichever is less. 听

Applicable limits for current parent PLUS borrowers are as follows:
 Annual limit: up to cost-of-attendance (minus other aid received)
Lifetime/aggregate limit: none

New (After July 1, 2026) Parent PLUS Borrowers
If you (the borrower/parent) will have your first parent PLUS loan for a newly admitted and enrolled undergraduate dependent student disbursed after July 1, 2026, you do not qualify for any of the relevant , and would instead be bound by the newly implemented limits (see below).

*Please note that, even if when you apply with the federal government and request the 鈥渕aximum amount鈥� option, and are subsequently seemingly 鈥渁pproved鈥� for same, the limits below will still apply.

Applicable limits for new (after July 1, 2026) parent PLUS borrowers are as follows:
Annual limit: $20,000 per dependent student
Lifetime/aggregate limit: $65,000 per dependent student听

Current Grad PLUS Borrowers
If you meet the relevant , you may be allowed to continue borrowing under the current guidelines for another 3 years or for the remainder of your current Graduate academic program (which is calculated by subtracting the number of years you've attended from the full-time length of the program), whichever is less. 听

Applicable limits for current Grad PLUS borrowers are as follows:
Annual limit: up to cost-of-attendance (minus other aid received)
Lifetime/aggregate limit: none

If you do not qualify for any of the relevant , even though the federal government may still allow you to apply and may even respond with a status of 鈥渁pproved鈥�, you will not be eligible to receive a Grad PLUS loan. To look into other options, you can review the information at the links below:

Private loans

Scholarships

Federal work-study

Graduate assistantship programs

Graduate fellowship programs

Repayment of principal and interest begins within 60 days after the loan is fully disbursed. The borrowers may be eligible to defer repayment until student graduates or ceases to be enrolled at least half-time. In order to receive a Direct PLUS Loan, students must first file a .

Private Loans

Private student loans (also known as alternative loans) are non-federal loans, made by听a lender such as a bank, credit union or state agency.听 They typically do not offer many of the benefits that Federal student loans include (such as fixed rates, income-based repayment plans, and various loan forgiveness programs).听 In many cases, private loans may be more expensive than Federal student loans.听A student should NEVER consider borrowing from private loan program until they have exhausted all their Federal Loan options first.

Dependent Undergraduate students applying for private loan financing with a parental cosigner are advised to first investigate the options offered by the Federal PLUS program before applying for a private loan. A detailed comparison between the PLUS and Private loan programs can be viewed on the Direct Loan Comparison Worksheet.

Selecting A Private Loan Program

Students may view and compare some of the private loan programs through which 吃瓜网 students have received funding via the private loan search and comparison tool. When using ELMSELECT, students are recommended to use the "Sort and Filter" options on the left sidebar to identify the loan programs with the terms and qualifying criteria that meet their needs. Neither 吃瓜网 nor the FAU Office of Student Financial Aid promote, endorse or recommend any of these loan products or lenders by including them on the list. Though the FAU Office of Student Financial Aid is able to process private loans with all private loan providers, processing is most efficient with ELM participating lenders. If your preferred lender does not appear on the list provided, you are advised to contact them to confirm they are an ELM participant.听

Some factors to be considered when comparing private loan products

  • Have an idea of what rate you will qualify for BEFORE you apply.
  • Compare rates from different lenders
  • Focus on the APR.
  • Find out about any fees the lender may charge to originate the loan.
  • Ask about interest capitalization
  • Ask about borrower benefits

Remember to Only Borrow What You Need!

FAU Loan Periods

When applying for an private loan, the lender will ask that you supply them with the loan period (also called period of enrollment) you are requesting the loan for. Below is a list of valid FAU loan periods. The loan period you specify should be ONE of these:
Enrollment Period Dates
FALL 2026 THRU SPRING 2027 08/15/26 - 05/05/27
听听FALL 2026 ONLY 听 08/15/26 - 12/16/26
听听SPRING 2027 ONLY 听 12/19/26 - 05/05/27
听听SUMMER 2027 ONLY 听 05/08/27 - 08/06/27
FALL 2025 THRU SPRING 2026 08/09/25 - 04/29/26
听听FALL 2025 ONLY 听 08/09/25 - 12/10/25
听听SPRING 2026 ONLY 听 12/13/25 - 04/29/26
听听SUMMER 2026 ONLY 听 05/09/26 - 08/07/26

Planned Enrollment and Housing

In order to process a private student loan, 吃瓜网 will need information regarding your planned enrollment and housing status for the loan period you have specified. FAU will normally obtain this information from your Student Aid Report, which is created after you file a . If you are requesting to be processed for a private student loan and do NOT have a Student Aid Report on file with 吃瓜网 for the loan period you are requesting, you MUST submit a Statement of Planned Enrollment and Housing for Alternative Loan Processing (number 3 under Loan section).

Private Education Loan Applicant Self-Certication Form and Fau Cost of Attendance

Due to the enactment of new regulations (Title X - Private Student Loan Transparency and Improvement Act of 2008), a student applying for a private educational loan is required to complete the Private Loan Self Certification Form. This form must be submitted directly to the lender.听 To complete this form, information regarding FAU cost of attendance must be provided. View information regarding the total cost of attendance at FAU.

Important Note on Private Student Loan Disbursements

The enactment of the new regulation (Title X - Private Student Loan Transparency and Improvement Act of 2008), gives the borrower a three days of recession period.听 During the recession period the borrower can cancel the loan and the lender cannot disburse the loan fund. The recession period starts when the lender finalizes the loan processing and puts the loan status in ready for disbursement status.听

In some cases, private student loans are disbursed to FAU as paper checks made co-payable to FAU and the student.听 The student will need to endorse and return the paper check to FAU.听 Upon the receipt of the endorsed paper check, FAU will process it thru the disbursement process.

Short Term Advance

Short Term Advance

A University monetary advance available to degree-seeking students enrolled at least half-time at FAU for assistance with purchasing textbooks, emergency funds relating to educational expenses and unanticipated living expenses until the disbursement of financial aid. Keep in mind that the Short Term Advance is NOT a source to assist with paying your tuition and other related fees.

Maximum loan amount is $750 with a non-refundable processing fee of $5.00 assessed. Students must meet additional eligibility criteria.

Federal PLUS Loans

Graduate PLUS Loans

Parent PLUS Loans

What you need to know about Graduate PLUS Loans!

Plus Borrowers that have been approved after an appeal or with an endorser will be required to complete the .

(For GRADUATE Students only)听A Direct Graduate PLUS Loan is a loan directly from the U.S. Department of Education.听 It is NOT a loan through a bank. 听

The Direct Graduate PLUS Loan is an unsubsidized loan, meaning interest begins to accumulate on the loan from the time it is disbursed. The first payment is due within 60 days after the loan is fully disbursed (borrowers have the option of deferring repayment until they cease to be enrolled at least half-time). For more information please refer to the .

View

NOTE:

FAU participates in the Federal Direct Graduate PLUS Loan Program. All Graduate PLUS loans will be processed through the U.S. Department of Education. Students who have previously received Graduate PLUS Loans through a bank will be required to sign a new Direct Graduate PLUS Loan Master Promissory Note (MPN) with the U.S. Department of Education in order to receive additional Graduate PLUS loans.

The student's eligibility for a Direct Graduate PLUS loan is determined by a credit check conducted by the U.S. Department of Education.听 The result of the credit check is valid for a period of only 180 days, FAU recommends that students apply for a Direct Graduate PLUS Loan no earlier than 150 days prior to the start of the enrollment period for which the PLUS loan is intended and the student is eligible. In cases where a previous credit approved outcome expires prior to the loan鈥檚 disbursement, a new credit check / approval will be required for the loan to disburse. The outcome of the new credit check could result in the previously approved loan being denied. With the above in mind, to ensure students have the access to anticipated Graduate PLUS funds, FAU recommends students apply for Graduate PLUS Loans no earlier than 150 days prior to the start of the enrollment period for which the PLUS loan is intended and the student is eligible.

FAU Direct Graduate PLUS Loan Process

The FAU Direct Graduate PLUS Loan process consists of the following steps:

  1. The student should confirm that they satisfy the following Graduate PLUS Loan pre-requisites:
  2. Students who have not previously received a Graduate PLUS Loan from FAU must complete Graduate PLUS Entrance Counseling before their loan can be disbursed. can be completed on-line. To access this site, students will be required to log in using their U.S. Department of Education issued PIN (the FAFSA PIN). After logging in, students should select Entrance Counseling from the Manage My Direct Loan menu box and follow the on screen instructions. Students who have received a Graduate PLUS Loan disbursement from FAU (regardless of the lender) have already satisfied the Graduate PLUS Loan Entrance Counseling Requirement and do not need to re-satisfy this requirement.
  3. The student must submit a Direct Graduate PLUS Loan to the U.S. Department of Education. 听After logging in, follow the prompts to apply for PLUS loan. This should be done no earlier than 150 days prior to the start of the enrollment period for which the PLUS loan is intended and the student is eligible - see above .When this is done, a credit check will be conducted on the student by the U.S. Department of Education. For questions or concerns regarding the result from the credit check, the student may contact the U.S. Department of Education at 1-800-557-7394 (8am-8pm EST, Monday through Friday) or 1-877-461-7010 TDD/TYY.
  4. If the credit check results in the students being DENIED , the student may either:
    • Appeal the credit decision with the U.S. Department of Education,
    • Attempt to obtain loan approval with an endorser/cosigner, or
    • Accept the denial and take no further action.
  5. If the loan request is APPROVED , the student should confirm that they have a valid Direct Graduate PLUS Loan Master Promissory Note (MPN) on file with the U.S. Department of Education. If approved, the graduate student will have an option of completing the Direct Graduate PLUS Loan MPN following approval as part of the application process.
    • Students receiving a Direct Graduate PLUS Loan for the first time must complete a Direct Graduate PLUS Loan MPN with the U.S. Department of Education prior to receiving their first loan disbursement. The Graduate Direct PLUS Loan MPN can be completed . The student will be required to login with their FSA ID to complete an electronic MPN. 听To create or edit the Student FSA ID go to the .
    • Students who have previously received a Direct Graduate PLUS Loan disbursement are NOT REQUIRED to complete a new MPN each year. In most cases, additional Direct Graduate PLUS Loans can be made under the same MPN for a period of 10 years from the MPN signature date.
  6. If the request is approved after an appeal or with an endorser, the borrower is required to complete the online .
  7. Assuming the request is approved and the student has satisfied the requirements specified in Steps 1-6 above, FAU will transmit a Federal Direct Graduate PLUS Loan origination to the U.S. Department of Education in the amount requested or the student鈥檚 maximum eligibility (defined as the student鈥檚 cost of attendance less all other assistance), whichever is lower. Loan funds will disburse approximately the third week of the term and applied to the student鈥檚 FAU balance. Any loan funds which exceed the student鈥檚 FAU balance will be issued to student by the Tuition/Billing office via direct deposit (if setup) or by mail.

Graduate PLUS Loan Exit Counseling

Students who have received funds from the Graduate PLUS loan program must complete Graduate PLUS Loan Exit Counseling prior to leaving the University or dropping below half time. Graduate PLUS Loan Exit Counseling can be completed .

What you need to know about Parent PLUS Loans!

Plus Borrowers that have been approved after an appeal or with an endorser will be required to complete the .

(For PARENTS of Dependent Undergraduate Students only) A Direct Parent PLUS Loan is a loan directly from the U.S. Department of Education.听 It is NOT a loan through a bank.

The Federal Direct Parent PLUS Loan is a low interest loan available to assist dependent students admitted and enrolled in an undergraduate degree program. The borrower of this loan is the parent of the dependent undergraduate student. To be eligible for the Direct Parent PLUS Loan, the parent borrower should have no adverse credit history.

The Direct Parent PLUS Loan is an unsubsidized loan, meaning interest begins to accumulate on the loan from the time it is disbursed. The first payment is due听 within 60 days after the loan is fully disbursed (parents have the option of deferring repayment until the student ceases to be enrolled at least half-time). For more information please refer to the .

View .

FAU participates in the Federal Direct Parent PLUS Loan Program. All Parent PLUS loans will be processed through the U.S. Department of Education. Parents who have previously received Parent PLUS Loans through a bank will be required to sign a new Direct Parent PLUS Loan Master Promissory Note (MPN) with the U.S. Department of Education in order to receive additional Parent PLUS loans.

The parent鈥檚 eligibility for a Direct Parent PLUS Loan is determined by a credit check conducted by the U.S. Department of Education. As the outcome of the credit check is valid for a period of only 180 days, FAU recommends that parents apply for a Direct Parent PLUS Loan no earlier than 150 days prior to the start of the enrollment period for which the loan is intended and the student is eligible. In cases where a previous credit approved outcome expires prior to the loan鈥檚 disbursement, a new credit check / approval will be required for the loan to disburse. The outcome of the new credit check could result in the previously approved loan being denied.

FAU Direct Parent PLUS Loan Process听

The FAU Direct Parent PLUS Loan Process consists of the following steps:

  1. The parent should confirm that the student satisfies the following Parent PLUS Loan prerequisites:
  2. The parent must submit a Direct Parent PLUS Loan request to the U.S. Department of Education . This should be done no earlier than 150 days prior to the start of the enrollment period for which the loan is intended and the student is eligible - see above. When this is done, a credit check will be conducted on the parent by the U.S. Department of Education. For questions or concerns regarding the result from the credit check, the parent may contact the U.S. Department of Education at 1-800-557-7394 (8 a.m. - 8 p.m. EST, Monday through Friday) or 1-877-461-7010 TDD/TYY.
  3. If the credit check results in the parent being DENIED , the parent may either:
    • Appeal the credit decision with the U.S. Department of Education,
    • Attempt to obtain loan approval with an endorser/co-signer, or
    • Student can contact assigned financial aid advisor to determine Unsubsidized loan eligibility based on independent student loan limits.
  4. If the loan request is APPROVED , the parent should confirm that they have a complete and valid Direct Parent PLUS Loan Master Promissory Note (MPN) on file with the U.S. Department of Education. If approved, the parent will have an option of completing the Direct Parent PLUS Loan MPN following approval as part of the application process.
    • Parents receiving a Direct Parent PLUS Loan for the first time must complete the Parent PLUS Loan MPN. 听This can be completed . The student will be required to login with their FSA ID to complete an electronic MPN. 听To create or edit the Student FSA ID go to the .
    • Parents who have previously received a Direct Parent PLUS Loan disbursement for their FAU student鈥檚 attendance are NOT REQUIRED to complete a new MPN each year. In most cases, additional Direct Parent PLUS Loans can be made under the same MPN for a period of 10 years from the MPN signature date.
  5. If the loan request is approved after an appeal or with an endorser, the borrower is required to complete the online .
  6. Assuming the request is approved and the student and parent have satisfied the requirements specified in Steps 1-5 above, FAU will transmit a Federal Direct Parent PLUS Loan origination to the U.S. Department of Education in the amount requested by the parent or the student鈥檚 maximum eligibility (defined as the student鈥檚 cost of attendance less all other assistance), whichever is lower. Loan funds will disburse approximately the third week of the term and applied to the student鈥檚 FAU balance. Any PLUS Loan funds which exceed the student鈥檚 FAU balance will be mailed to either the parent borrower or the student as specified by the parent in the application process.

Private (Alternative) Loans

Some banks and other lenders offer private loans.

Things to know:

  • Interest rates and repayment terms will depend on the lender
  • Some require a credit check and co-signer
  • They are not part of federal loan programs

If you consider private loans, compare offers carefully and talk with a financial aid advisor first.

Loan Repayment Overview

You must repay loans after you leave school or drop below half-time enrollment unless you qualify for a deferment or other relief option.

There are a few common repayment plans for federal loans, including:

  • Standard repayment 鈥� fixed monthly payments over 10 years
  • Income-driven repayment 鈥� monthly payments based on your income
  • Graduated repayment 鈥� lower initial payments that increase over time

Your loan servicer determines repayment details after you enter repayment.

Things to Know About Loans

Loan Terms and Timing

  • Loan funds are usually credited to your 吃瓜网 Atlantic account after the term starts.
  • You generally start repayment after you graduate, withdraw or drop below half time.
  • Interest accrues (adds up) from the time the loan is disbursed.

Specific loan timelines and requirements are different for each loan type.

Staying Informed and Responsible

Borrow only what you need. Loans are real financial commitments that affect your future. To stay on track:

  • Review your loan details in
  • Understand your interest rates and fees
  • Plan for repayment before you leave school
  • Contact your loan servicer with questions

Getting help early can prevent repayment problems later.

FAQs

No. When you receive your financial aid offer, you can choose which loans you want to accept. You do not have to take everything that鈥檚 offered.

You can accept less than the full amount offered. Adjust your accepted loan amounts in myFAU or talk with a financial aid advisor if you need help.

If you withdraw from all classes or drop below half-time enrollment, your loans may enter repayment sooner, and your loan amount may be adjusted based on federal rules.

Always talk with a financial aid advisor before making enrollment changes.

Office of Financial Aid

吃瓜网 (FAU鈥檚) Office of Student Financial Aid helps students and families understand the cost of college and the resources available to manage it. We provide information, guidance and tools to help you apply for aid, review your offer and maintain eligibility throughout your time at 吃瓜网 Atlantic. Our goal is to make financial aid information clear, accurate and easy to use.

Address

location_on
Administration Bldg. SU-80, Rm. 233
777 Glades Road
Boca Raton, FL 33431
call (561) 297-3530

Hours

Monday - Friday: 8:00 a.m. - 5:00 p.m.听

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