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GENERAL INFORMATION

Palm Beach Atlantic University participates exclusively in the William D. Ford Federal Direct Loan program, which is the U.S. Department of Education’s federal student loan program. The loans issued by this program are from the U.S. Department of Education, rather than by a traditional bank. You must submit a FAFSA each year to qualify for federal student loans.

Eligibility for Direct Federal loans includes:

  • be a U.S. citizen, national, permanent resident, or other eligible non-citizen
  • be enrolled at least half-time
  • not have defaulted or owe a refund on any previous aid
  • maintain Satisfactory Academic Progress (SAP)

TYPES OF LOANS

Direct Subsidized Loans

  • Direct Subsidized loans are awarded to all eligible students demonstrating financial need, as determined by the FAFSA. No interest accrues while a student is enrolled at least half-time, during the grace or deferment periods.
  • Students can borrow up to $5,500 in direct subsidized loans per year depending on what year in school they are and their dependency status.

Direct Unsubsidized Loans

  • Direct Unsubsidized loans are awarded to all eligible students who submit the FAFSA and are enrolled at least half-time. Interest accrues once the loans are disbursed, even during the grace or deferment periods.
  • Students can borrow up to $7,000 in direct unsubsidized loans per year depending on what year in school they are and their dependency status.

Direct PLUS Loans

  • Direct PLUS loans are unsubsidized loans available to graduate/professional students to help pay for educational expenses not covered by other financial aid. These are also referred to as Graduate PLUS loans. Eligibility is based on a soft credit check.
  • Amounts are requested.

Use the drop down menu on the left-hand side to learn more about student loans.

 

Undergraduate Loans

Hey, undergrad students! For more info on loan options from the Direct Federal Loan program, click here!

Graduate/Professional Loans

Are you a graduate or professional student? Visit us here for more information on the federal loan options available to you!

  • All loan documents must be submitted prior to semester bill deadlines.
  • If all loan documents are not received prior to this deadline, the Financial Aid Office will remove the loans from the student’s account.
  • The student will need to contact the Financial Aid Office to have the loans added back to the account after completing all loan documents.

 

Please click on the links below to download the appropriate instructions to complete your Direct Loan requirements. You may check on the status (Received or Not Received) of your documentation here.

Direct Loan Entrance Counseling
The Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming.

Direct Loan Master Promissory Note (MPN)
The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s).

Direct Graduate PLUS Loan
Direct PLUS Loans are loans made to graduate or professional students students to help pay for education expenses not covered by other financial aid.