Student Financial Aid

Loans

 

Beginning in summer 2010, UMSL began to participate exclusively in the Federal Direct Stafford Loan (subsidized and unsubsidized), Federal Direct Parent PLUS Loan, and Federal Direct Grad PLUS Loan programs.  Students and parents will be required to use the Direct Loan program for all federal student and parent loans. Under the Federal Direct loan programs, students and parents will borrow from the federal government through their colleges like they did with lenders.  For more information regarding Direct loans please visit studentloans.gov

As a result of recent legislation, the traditional Federal FFELP (Federal Family Education Loan Program) loans through banks, credit unions, and other student loan lending companies will no longer be available.  

General Loan Information

Loans are sources of financial assistance that allow you to spread the cost of education over time. All need-based financial aid awards will include loans. Students are not required to accept the loan portion of their financial aid packages. However, we will not offer additional grant or scholarship assistance to students who turn down their loans. Loans are serious legal obligations. They must be repaid. Please be aware that there are limits to the amount of Stafford loans that can be borrowed while seeking your degree.

We urge all first-time borrowers to spend some extra time learning about the loan process so that they can make informed choices throughout their education.