Federal Education Loans
Federal Direct Student Loans
A Federal Direct Loan is a low-interest loan for both undergraduate and graduate students. Loans require a minimum of six credits for undergraduate and five credits for graduate students.
Direct Subsidized Loans
A Direct Subsidized loan is a need-based loan that is offered to undergraduate students who demonstrate financial need. Interest on subsidized loans does not accrue while the student is enrolled in at least 6 credits. Current interest rates for loans.
Direct Unsubsidized Loans
A Direct Unsubsidized loan is available to undergraduate and graduate students who do not need to demonstrate financial need. Interest on unsubsidized loans will begin accruing as soon as the loan funds are disbursed to the student. It will continue to accrue until the loan is paid in full. Current interest rates for loans.
How do I apply for a Federal Direct Loan?
To apply, please complete the Free Application for Federal Student Aid.
How do I accept, decline or modify my Federal Direct Loan?
Once you have completed your FAFSA application, we will notify you via email of the loans you have been awarded. In order to apply those loans to your student account, please follow these steps:
- Log in to my.usu.edu
- Under the "Tools" section, select "Finances"
- Select "Federal Aid (FAFSA)"
- Select the Award Year you need to review in the top right corner
- Click on "Aid Offer" tab
- Scroll down to "Options to Pay Net Cost"
- Use the drop-down menu next to the offer to accept, decline,or modify your loan, then click “Submit”
Please be aware: you must accept all of the offered subsidized loan before you can accept any portion of the unsubsidized loan. Any amount of a loan you accept will automatically split in half for the fall and spring semesters.
If you wish to cancel your loan or make adjustments to what you have already accepted, please contact our office.
Federal Direct Loan Requirements
If you are a first time federal loan borrower, there are additional requirements before we can disburse or pay you your loans. You must complete Loan Entrance Counseling and a Master Promissory Note to receive a loan payment. Please be aware, to receive either type of federal loan you must be enrolled at least half-time (6 credits for undergraduates and 5 credits for graduates).
Parent PLUS Loans
The federal Parent PLUS loans enables parents to borrow funds to help pay for the educational expenses of their dependent, undergraduate children who are enrolled at least half-time. In order to borrow a parent PLUS loan, students must submit a FAFSA, and parents must submit a separate PLUS loan application and complete a Master Promissory Note. Please note that parent PLUS loans are taken out in the parent's name and having an adverse credit score may affect your eligibility to receive a PLUS loan.
Graduate PLUS Loans
The federal Graduate PLUS loans enable graduate and professional students to borrow funds beyond Federal Direct loans to pay for educational expenses if they are enrolled at least half-time. In order to borrow a graduate PLUS loan, students must submit a current FAFSA, a separate application for the PLUS loan, and complete a Master Promissory Note. Please note that an adverse credit score may affect your eligibility to receive a PLUS loan.
Private Education Loans
If federal aid does not cover all of your school-related expenses and you need additional help in paying for those left over costs, private loans may be an option for you.
An emergency loan is a low interest, short term loan for USU students as a means of temporary financial assistance. This loan cannot be used for tuition and is not available if the student is still using the TouchNet payment plan. Students may borrow a maximum of $400. Only one emergency loan is available during a semester; this loan is not available between semesters.
Undergraduate students: enrolled in 6 credits, minimum 2.0 GPA
Graduate students: enrolled in 5 credits, minimum 3.0 GPA
Must not have any other outstanding USU debts or payment plans
How To Apply
Please contact our office to help you get started on the application.