With federal student loans, you can borrow money for college directly from the government. Learn more about the federal student loan options below.
Subsidized Federal Direct Loan
May be borrowed by students enrolled at least half-time at Grand View. Students may borrow loan amounts based on their grade level – first-year $3,500, sophomore $4,500, junior and senior $5,500.
Subsidized loans do not accrue interest charges while the student is enrolled at least half-time. Repayment will begin six months after the student graduates or drops below half-time. The interest rate is fixed at 4.45%. Interest accrual begins at the end of the six month grace period following graduation or less than half-time enrollment.
Unsubsidized Federal Direct Loan
May be borrowed by students enrolled at least half-time at Grand View University. Unsubsidized loans are not awarded based on financial need, and therefore will begin to accrue interest charges at disbursement. The interest rate is fixed at 4.45%.
Students are awarded a base unsubsidized federal direct loan of $2,000 in addition to their subsidized federal direct loan eligibility. Independent students may borrow up to an additional $4,000 as a first-year and sophomore, or $5,000 as a junior and senior.
Direct Loan Entrance Counseling
This is a requirement that all first-time direct loan borrowers must complete prior to receiving loan funds. Entrance counseling prepares students for responsible borrowing and proper repayment of their loans. The counseling and master promissory note may be completed online.
Federal Direct PLUS Loans
Enable parents to borrow a federal loan to help pay the students education expenses. Parents may borrow up to the cost of attendance minus other financial aid received.
The interest rate is fixed at 7% and interest charges begin to accrue at disbursement. Repayment begins within 60 days of disbursement, or the parent can defer repayment for up to six months after the student graduates or drops below half-time enrollment. Apply for the PLUS loan and complete the master promissory.