Graduate Financial Assistance Programs

A federal student loan, made through the William D. Ford Federal Direct Loan Program, for which eligible students borrow directly from the U.S. Department of Education at participating schools. Direct Unsubsidized Loans, Direct PLUS Loans and Direct Consolidation Loans are types of Direct Loans.

Unsubsidized Direct loans are loans for which the borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan. Repayment for this loans begins after graduation or when the student drops below part-time. The student has up to 10 years to repay this loans.

Additional Information:

• Student must be enrolled at least half time (3 credit hours for graduate students)
• Annual limit is $20,500
• Current fixed interest rate is 6.54% as of 7/1/22
• Current origination fee is 1.057% as of 10/1/22 (this fee is deducted up front and thus lowers the actual net amount of each disbursement that appears on your tuition bill)
• Rates may change depending on legislation so please visit the Federal Student Aid Interest website for the most current information
• Lifetime limit is $138,500 for graduate or professional students—No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.
• Loans are disbursed at the start of each academic term
• If the interest is capitalized (allowed to accumulate) it will be added to the principal amount of the loan and will increase the amount the borrower will have to repay.
• If the choice is made to pay the interest as it accumulates, the total interest charges paid during repayment will be considerably less. Payments would be made directly to your federal loan servicing company. Information on how to contact your specific company is available on the studentaid.gov website.

Students can accept or decline their federal direct loans online through the Student Financial Services section of the  Student Financial Services Portal.  (instructions to accept or decline your student loans can be found in SFS Self Service Guide.) In order to receive funding from the Federal Direct Subsidized/Unsubsidized Loan program, you must complete Entrance Counseling and  sign a Master Promissory Note (MPN) . These requirements must be completed before funds will be released from the federal loan center. These steps are further explained in detail within the portal.  We also encourage student to also complete the Annual Student Loan Acknowledgement, even though it is not necessary to take out your loans.  Students wishing to modify and accept only part of the federal direct loans offered will need to complete the Federal Direct Student Loan Form.

A Federal Direct PLUS loan is a non-need based federal loan program. A loan made by the U.S. Department of Education to credit-worthy graduate or professional students for which the borrower is fully responsible for paying the interest regardless of the loan status. Please refer to the PLUS Loan section of the Federal Student Aid website an Office of the U.S. Department of Education for a more detailed explanation, available at https://studentaid.gov/understand-aid/types/loans/plus

Student Eligibility

* US Citizen or eligible Non-US Citizen
* Not in default on prior educational loans
* Meets federally defined creditworthiness standards
* Enrolled at least half time (3 credit hours for graduate students)

Additional Information

• This loan is not need based.
• You may not borrow more than the cost of attendance per term minus any other financial aid received (such as grants, scholarships, or loans – including Direct Unsubsidized loans). High Point University will determine the actual amount you may borrow.
• Current fixed interest rate is 7.54% as of 7/1/22
• Current origination fee of 4.228% as of 10/1/22 (this fee is deducted up front and thus lowers the actual net amount of each disbursement that appears on your tuition bill)
• Rates may change depending on legislation so please visit the Federal Student Aid Interest website
• Loans are disbursed at the start of each academic term.
• If the interest is capitalized (allowed to accumulate) it will be added to the principal amount of the loan and will increase the amount the borrower will have to repay.
• If the choice is made to pay the interest as it accumulates, the total interest charges paid during repayment will be considerably less. Payments would be made directly to your federal loan servicing company. Once the loan has disbursed you can sign onto the National Student Loan Database online at nslds.ed.gov with your FSA ID.

Visit our Apply for PLUS Loan page under All Students in the left hand menu for step-by-step instructions.

Repayment Terms

Interest begins to accumulate upon the first disbursement. Repayment begins 60 days after the final disbursement during the academic year in which the loan is disbursed, or you have the option of deferring the loan payments until you graduate, withdraw, or drop below half-time enrollment status. You will be responsible for repaying both the principle and accumulated interest. The maximum repayment period is generally 25 years.

Students who are non-degree seeking or who are seeking teacher certification after graduation are only eligible for alternative loans in most cases.

If your financial assistance package does not cover your expenses, you have the option of applying for an alternative or private (nonfederal) student loan. Some private lenders offer credit-based loan programs to creditworthy students and/or students with creditworthy cosigners. Interest rates, loan fees and other specifics of such loans should be carefully evaluated. When considering private alternative loans, students should ALWAYS evaluate and compare them to a Federal PLUS Loan or the tuition payment plan.

If students decide to use private alternative loans, they must apply for these loans in enough time for them to use the funds to pay the High Point University charges by the due date. Private alternative loan lenders will require a creditworthy cosigner. This can be a spouse, parent, another adult relative, or other person who meets the lender’s requirements for the loan. A cosigner will be responsible for the loan if the student does not pay it back. Students who apply for a private alternative loan must complete a Self-Certification Form and submit it to the lender prior to loan approval.

The Office of Student Financial Planning will assist families in understanding and pursuing this lending avenue but cannot be responsible for the actual application. Below are several common private lending options utilized by High Point University students and families. Utilize the link provided to find out specific information and complete an on-line application if interested.

In order to consider a private alternative loan as payment toward the Student Accounts bill, the student must have received final approval from the lender.  Processing time varies from lender to lender, but the average approval time is two to four weeks if everything is submitted in a timely manner.  Be sure to allow enough time for processing.

Please refer to our Code of Conduct regarding Educational Loans.

Click below to easily compare and apply for Alternative Loans: