Federal Direct Student Loans

Shawnee State University
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Financial aid

Shawnee State University understands that managing the cost of education may be a challenge for many families. In addition to grants, scholarships and federal work study, there are several student loan options available to students and their families.

Shawnee State University participates in the William D. Ford Federal Direct Loan Program. When you borrow from the Direct Loan Program, the loan money comes from the federal government directly to SSU. The loan proceeds are applied to your student account toward your tuition, fees and other approved charges. Once your student account is paid in full, any remaining loan funds are issued to the student.

Students who complete the FAFSA may receive a Federal Direct Student Loan. This loan may be subsidized, unsubsidized or a combination of both. This loan is in the student's name and is repaid by the student. Eligibility is determined by the total cost of attendance, the results of the FAFSA, and other financial aid resources. Students must be enrolled and attend at least half time (6 hours for undergraduate; 5 hours for graduate) to be eligible for a student loan.

Subsidized Loan

This is a need based loan. The government pays the interest while the student is in school at least half time, during the six month grace period, and during any deferment periods.

Unsubsidized Loan

This is a non-need based loan. The student is responsible for the interest from the time of disbursement until the loan is paid in full. The student may pay the interest while in school or the interest may be capitalized (added) to the principle loan amount. Students are encouraged to pay the interest while in school to help keep their total loan debt lower.

Interest Rates

The interest rate on the Direct Loan is a fixed rate for the life of the loan. Interest rates are determined at the end of May based on the 10 year treasury note and are set beginning July 1 through June 30 each year.

2018-19 Interest Rates




Loan Fees

For loans that have a first disbursement on or after October 1, 2018, the U.S. Department of Education will charge a 1.062% loan fee for processing your loans. The loan fee is deducted from each disbursement of the loan. This means that 98.938% of the total loan will be applied to the student account. This fee will remain in effect until Congress makes a change. 

For loans first disbursed on or after October 1, 2017, the loan fee will be 1.066%. This means that 98.934% of the total loan will be applied to the student account.

Loan Amounts

Loan amounts are based on the grade level, dependency status, academic major, and other financial aid resources of the student.

More Information

Posted on:


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Portsmouth , United States