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.