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Direct Student Loans

Beginning July 1, 2012:

End of upfront interest rebate on Federal Direct Student and PLUS Loans
Budget Control Act of 2011 Summary: In the past, borrowers received an up-front rebate on loan fees. The new law eliminates the up-front origination fee rebate on all Direct Student and PLUS loans. These loans will now be assessed the full fee amount on Direct loans which will be deducted from each loan disbursement.

The following is true of all Direct Student Loans:

Direct Student Loans are federal student loans and can be subsidized or unsubsidized depending on the student's financial need.

  • Subsidized Direct Student Loans are awarded on the basis of financial need. The federal government pays the interest on these loans while you are in school.
    • Current Subsidized interest rates
      Beginning July 1, 2012:
      Graduate students are no longer eligible for SUBSIDIZED Loans
      Unsubsidized Loan eligibility will remain in place
  • Unsubsidized Direct Student Loans are not awarded on the basis of financial need and you will be charged interest on the loan until the loan is paid off. While you are in school you can make interest only payments to avoid having the interest added to the original loan amount.
How to Apply:
1.  Complete the Free Application for Federal Student Aid (FAFSA) for the correct academic year.
2.  Sign a Master Promissory Note.
3.  Complete on-line Entrance Loan Counseling

Important note:

  • If you have already completed Entrance Loan Counseling while attending Coastal Carolina University, you are not required to complete a new counseling session. However, if in doubt, to prevent a delay, you may complete a new Entrance Loan Counseling session.

Please see Direct Student Loan Limits & Rates

 Click here to complete the FAFSA on-line.