Loans are a type of financial aid that requires repayment after graduation. Most loan programs offer low interest rates and long-term repayment plans. Some loan programs base their funding on financial need while others are determined regardless of financial need. In order to qualify for Direct Stafford Loans borrowers must meet the following eligibility criteria:
- Be admitted to the institution as a degree-seeking Undergraduate or Graduate student.
Have a current year FAFSA on file with a valid EFC.
- Be enrolled in a minimum of half-time, current grade level credit hours (MSU Enrollment Policy).
- Meet all Satisfactory Academic Progress (SAP) requirements (MSU SAP Policy).
- Complete mandatory Entrance Counseling and Master Promissory Note (MPN) requirements.
Loans are packaged to all eligible students' award letters at an offered status. Students meeting the above criteria must accept the loans through their BearPass login.
Direct Subsidized and Unsubsidized Loan eligibility must be established and the loans must be accepted & processed prior to the end of the loan period for which they are requested. Loans cannot be processed after these deadlines for any reason.
|Term of Loan(s)||Loan Period Begin Date||Loan Period End Date||Last Date Student May Accept Loan Funds|
|Fall 2016||August 22, 2016||December 15, 2016||December 12, 2016|
|Spring 2017||January 17, 2017||May 18, 2017||May 15, 2017|
|Fall/Spring 2016-2017||August 22, 2016||May 18, 2017||May 15, 2017|
|Summer 2017||June 12, 2017||August 4, 2017||July 31, 2017|