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Federal Direct loan Links and information

Federal Direct Student Loans
The Federal Direct Student Loan Program consists of subsidized and unsubsidized loans. Repayment of Federal Student Loans may be deferred while a student is attending the university on a half time or full time basis.

UNCP requires that all students who are first-time Federal Student Loan borrowers complete the entrance counseling activity at Student Loans.Gov before loan funds are disbursed to their account. It is highly recommended that you complete this process before borrowing the full amount of your awarded Federal Student Loan.

Students can apply directly for a Federal Direct Stafford Loan by going to Student Loans.Gov.


The Federal Direct Student Subsidized Loan is awarded according to demonstrated financial need. Interest is paid by the federal government as long as a student is enrolled at least half time at the university. The student must begin repayment of the loan six months after leaving school or dropping below half time.

The Federal Student Unsubsidized Loan is awarded regardless of a student's demonstrated need. Interest begins accruing from the date of disbursement. By making interest payments while in school, a student can avoid capitalization of the interest. When interest is capitalized, it is added to the principal amount of the loan upon which further interest charges are based.

Loans for Parents

Federal PLUS loans are federally sponsored loans that parents can obtain to help pay the cost of education for their dependent undergraduate children.  PLUS loans feature low interest rates and long-term repayment options.  While parents of all income levels are eligible a credit-worthiness evaluation is required.

Parents may borrow up to the cost of attendance less any other aid received by the student annually.  In order to obtain a PLUS loan, the student must first complete the Free Application for Federal Student Aid (FAFSA).  Based on the student’s FASFA information, the Financial Aid Office will determine the maximum amount of PLUS loan eligibility.  Parents may opt to borrow less than the maximum amount awarded.

For Parents who would like to borrow a Parent Loan for Undergraduate Students (PLUS), you will need to access Student Loans.Gov to complete the PLUS Application process electronically.  Parents will also need to acquire a 4 digit pin for electronic signature. This is the same pin number that is used to sign the FAFSA form. (This feature is not yet available on the website, but should be ready by the end of April, according to the Direct Loan Servicing Center)  If you do not remember your pin, you can request one from www.pin.ed.go v.   When parent’s apply for a Direct PLUS Loan, the U.S. Department will check their credit history. To be eligible for a PLUS Loan, parent’s must not have an adverse credit history. If you are found to have an adverse credit history, you may still borrow a PLUS Loan if you get an endorser who does not have an adverse credit history.

PLUS Loans for Graduate Students

Federal Graduate PLUS loans are federally sponsored loans that are available to graduate students who have borrowed up to their annual or aggregate limit under the Federal Student loan program. Graduate PLUS loans feature low interest rates and long-term repayment options. While graduate students of all income levels are eligible, a credit-worthiness evaluation is required. Graduate students may borrow up to the cost of attendance less any other aid received by the student annually. Students must first apply for all Federal Student loan eligibility before a Graduate PLUS loan can be awarded. In order to obtain a Graduate PLUS loan, a student must first complete the Free Application for Federal Student Aid (FAFSA). (This feature is not yet available on the website, but should be ready by the end of April, according to the Direct Loan Servicing Center). Upon request, the Financial Aid Office will then determine the maximum amount of a student’s Graduate PLUS loan eligibility. To initiate the Graduate PLUS loan borrowing process, a Graduate PLUS Loan Request form must be submitted to the Financial Aid Office.

Borrowers should contact Applicant Services (800.557.7394) at the Common Origination and Disbursement School Relations Center for assistance with credit appeals, PLUS loan issues, and/or endorser processing. Applicant Services can also assist borrowers with the Direct Loan Electronic Master Promissory Note web site.

Students or parents who have questions about the status of financial aid awards, or who wish to cancel a Stafford or PLUS loan, should contact the Office of Financial Aid at UNCP at 910.521.6255or via email at fa@uncp.edu

 

 

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