Loans, Bryan College of Health Sciences

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Federal Direct Loans

Federal Direct Loans are low-interest loans provided to you, if eligible, after your high school graduation to help with the cost of college. To be eligible, you must:

  • be enrolled at least half-time
  • be a U.S. citizen or eligible non-citizen
  • be enrolled in a program of study leading to a degree

Apply for a Federal Direct Loan

If you are interested in student loans, and you are a first-time borrower, you will need to complete:

FAFSA and SAINT Student

FAFSA

Complete your FAFSA, a free application for Federal Student Aid at www.fafsa.ed.gov.

SAINT Student

Complete SAINT Student annually. Details about this process can be found at www.bryanhealthcollege.edu/saint

Fill out a Master Promissory Note

You must complete a Master Promissory Note (MPN) to apply for a loan. The MPN is a legally binding agreement to repay your loan to the U.S. Department of Education. In most cases, one MPN for the Direct Subsidized and Unsubsidized can be used for loans that you receive over several years of study. You can fill out the MPN online at www.studentloans.gov.

Federal Direct Loan Counseling

Prior to receiving a federal loan, students must complete Entrance Counseling to ensure that you understand the responsibilities and obligations you taking on by getting a loan. This requirement will be fulfilled during your SAINT Student completion.

You will be expected to complete Exit Counseling upon graduation or if you drop below half-time enrollment. Exit counseling provides important information to prepare you to repay your federal student loan(s). To complete Exit Counseling, students will sign in using their FSA ID and provide details on their income, financial aid history, and living expenses.

Students and their families can learn more about federal student aid, including how to repay your loans, at www.studentaid.ed.gov.


Repayment of Federal Loans

When you borrow a federal student loan from the government, you will be assigned a loan servicer. Servicers are companies that collect your loan payments and report your payments to the credit bureau. Your servicer can also help you lower your payment and setup automatic payments. Your servicer is the company that sends you a billing statement each month.

You are required to begin repayment on your loans if you fall below half-time enrollment.

National Student Loan Data System (NSLDS) can be a valuable tool in keeping track of your student loan information and who you repay. You can check on your federal student loans by going to NSLDS.ed.gov. NSLDS will display your balances, interest rates and loan details.

Eligibility Requirements for Loans

  • You must be enrolled at least half-time
  • You must be a U.S. citizen or eligible non-citizen
  • You must be enrolled in a program of study leading to a degree

How Your Federal Loans Get Reported

When you borrow a federal student loan from the government, you will be assigned a loan servicer. Servicers are companies that collect payments on a loan and perform other administrative tasks associated with maintaining a loan (i.e. work out lower payment options with you, setup automatic payments, report your payments to the credit bureau, etc.). Your student loan servicer is the company that sends you a billing statement each month.

You are required to begin repayment on your loans if you fall below half-time enrollment.

National Student Loan Data System (NSLDS) can be a valuable tool in keeping track of your student loan information. You can check on your federal student loans by going to NSLDS.ed.gov. Here you can find your amounts, balances, interest rates and loan status (in repayment, in default, etc.). If you are unsure who your loan servicer is, you can locate their contact information on NSLDS’s website.

Bryan College of Health Sciences

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