Federal Direct Loans
Federal Direct Subsidized Loans are awarded based on financial need. The federal government pays the interest that accrues on subsidized loans while you are enrolled in school at least half-time, but interest will accrue during periods of non-enrollment. The MSU Financial Aid Office encourages students to make payments on accruing interest during periods of non-enrollment such as summer breaks to keep total debt as low as possible.
Federal Direct Unsubsidized Loans are awarded to all eligible students regardless of need. You are responsible for the interest that accrues on unsubsidized loans from the time the loan is disbursed. The MSU Financial Aid Office encourages students to make payments on accruing interest while they are in school to keep total debt as low as possible.
Federal Student Loan Repayment To get information on managing repayment of your Federal Student Loans please go to https://studentaid.ed.gov/repay-loans. Here you will find information on making payments, servicers, repayment plans, consolidation, deferment and forbearance, forgiveness, cancellation, discharge, default and resolving disputes. To see your repayment plan options and use a repayment calculator click here https://studentaid.ed.gov/repay-loans/understand/plans.
Federal Direct Plus Loans are loans that graduate students and parents of dependent undergraduate students can use to help pay for college. The borrower is responsible for the interest that accrues on the PLUS Loan from the time the loan is disbursed. The MSU Financial Aid Office encourages borrowers to make payments on accruing interest while they are in school to keep total debt as low as possible.
How to apply: Students must complete the Free Application for Federal Student Aid (FAFSA). PLUS Loan applicants (graduate student or parents of a dependent undergraduate) must also complete the PLUS Request Process at www.studentloans.gov.
NOTE: All student loans require that the borrower be enrolled in a minimum of six credits.
MSU reports all loan disbursements to NSLDS. Post disbursement information about any of these disbursements (including the contact information for the servicer for the loans) can be found at https://www.nslds.ed.gov/nslds_SA/.