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Federal Financial Aid Loans

  Watch brief videos with answers to your questions on Financial Aid TV.

Federal loans are funds borrowed from the federal government. The funds must be repaid, with interest, after you are no longer a student. Most federal loans are awarded to students when they apply for financial aid. Your financial need, program of study, and grade level determine the types and amounts of loans you receive. The only federal loan that is not awarded when you apply for aid is the Federal Direct PLUS Loan; a separate application is needed to apply for this loan (see our website for more information about the PLUS and the Graduate Student PLUS programs). All federal loans are need-based, except the Direct Unsubsidized Stafford Loan and the PLUS Loans.

APUS participates in the William D. Ford Federal Direct Loan Program, Federal PLUS, and Federal GRADPLUS programs.

William D. Ford Federal Direct Loan Program
All new loans originated on or after April 1, 2009 will be processed through the Direct Loan Program. Students may consolidate any FFELP loans into a Direct Consolidation loan to ease repayments. For more information on consolidation please visit the Direct Loan website.

Notes
Students who may be attending more than one university during an academic period may have their amount of aid affected by dual enrollment as well as their cost of attendance (living expenses may only be counted at one school). Please check the appropriate box on the form in the Virtual Financial Aid Office in order for your aid to be calculated correctly.

Special Circumstances
The Financial Aid Office understands that an occasional circumstance may occur which affects a student’s ability to pay for school. Examples of such circumstances include the loss of employment, the death of a spouse or parent, or unusual medical expenses. If any of these occur during the academic year, students should e-mail the FSA Helpdesk for assistance and have appropriate documentation available.

PLUS Loan
Parents of a dependent undergraduate student may use a Federal PLUS loan to pay for their child’s education. This loan requires a credit check and is limited by the cost of attendance less any aid (including loans) the student may be receiving.

GRADPLUS Loan
Graduate students may be eligible for the federal GRADPLUS loan. Similar to the parent PLUS loan, the student must undergo a credit check for eligibility and may borrow up to the cost of education less aid already awarded or received.

Loans may take from 10 to 30 years for repayment with interest accruing during the repayment period. In addition, interest will be paid for unsubsidized and PLUS loans during in-school and grace periods.  Review repayment information at the Federal Student Aid site.