Loans, Bryan College of Health Sciences

Skip to Content

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.

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 Bryan FA Online

FAFSA

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

The information from your application will be shared with Bryan College of Health Sciences when you identify us as your school on the FAFSA. After the FAFSA has been processed, we will notify you with an award letter, of the types of aid for which you are eligible.

Bryan FA Online

If you are a current student, you have access to Bryan FA Online in your student portal.

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. A new MPN must be filled out each year to apply for the PLUS or GradPLUS loans. 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 Bryan FA Online 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, living expenses and demographics.

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


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

Federal Direct Loan Interest Rates 2018/19

Loan

Interest Rate

Direct Subsidized Loans (Undergraduates)

5.05%

Direct Unsubsidized Loans (Undergraduates)

5.05%

Direct Unsubsidized Loans (Graduates or Professional Students)

6.6%

Direct PLUS (Parents and Graduate or Professional Students)

7.6%

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

Copyright 2018 Bryan College of Health Sciences. All rights reserved.