The University of North Texas Health Science Center participates in the William D. Ford Federal Direct Loan program which allows students to borrow loan funds directly from the U.S. Department of Education.   Loans offered under the Direct Loan program include the Direct Stafford Subsidized Loan, Direct Stafford Unsubsidized Loan and Direct Grad PLUS Loan.

In order to apply for these loans, all borrowers must have completed a current 2012-2013 FAFSA application.

Direct Stafford Subsidized Loan

*As of July 1st, graduate students are no longer eligible for Subsidized Loans.

· Must be enrolled at least half-time

· Must have need (as determined by Cost of Attendance - Expected Family Contribution)

· Maximum eligibility is $8,500 per aid year ($65,500 lifetime limit)

· 6.8% fixed interest rate which is subsidized by the federal government (no interest is charged) while borrower is enrolled at least half-time, during grace and deferment periods

· Origination fee is 1% with .5% upfront rebate for on-time payments (net fee of 0.5%) prior to July 1, 2012; after this date there will be NO upfront rebate (fee would just be 1%)

· 10 year repayment beginning after graduation or when student drops below half-time

· Entrance Counseling required for first-time borrowers at UNTHSC

· Master Promissory Note required for first-time borrowers at UNTHSC

Direct Stafford Unsubsidized Loan

· Must be enrolled at least half-time

· Not based on financial need

· Maximum eligibility combined with Subsidized Loan is $20,500 per aid year ($138,500 lifetime limit)

· Extended borrowing limits for Texas College of Osteopathic Medicine and School of Public Health students

· 6.8% fixed interest rate

· Origination fee is 1% with .5% upfront rebate for on-time payments (net fee of 0.5%) prior to July 1, 2012; after this date there will be NO upfront rebate (fee would just be 1%)

· 10 year repayment beginning after graduation or when student drops below half-time

· Entrance Counseling required for first-time borrowers at UNTHSC

· Master Promissory Note required for first-time borrowers at UNTHSC

Direct Grad PLUS Loan

· Must be enrolled at least half-time

· Credit check required. If borrower is determined to have adverse credit history, he/she may obtain an endorser or appeal the credit decision.

· Student may borrow up to his/her Cost of Attendance

· 7.9% fixed interest rate

· 4% origination fee and 1.5% upfront rebate (net fee of 2.5%) prior to July 1, 2012; after this date there will be NO upfront rebate (fee would just be 4%)

· 10 year repayment beginning 60 days after disburses or can be deferred until after graduation or when student drops below half-time

· To apply, submit a signed Grad PLUS Application Form to the financial aid office.

· Complete a Grad PLUS Master Promissory Note

If a student withdraws or takes a leave of absence from all classes, s/he may be required to pay back a portion of federal aid received.  Students, who received loans and graduate, withdraw, take a leave of absence, or drop below half-time must complete Exit Counseling for their loans. 

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