Financial Aid

Subsidized Loan

A subsidized loan is a fixed-rate loan awarded on the basis of need made directly by the Federal Government. Interest does not accrue while the student is enrolled at least half-time. Repayment begins 6 months after leaving school or enrolling less than half-time with a standard of 10 years to repay. Students must be enrolled as at least a half-time student to be eligible and be enrolled in an undergraduate program of study.

Unsubsidized Loan

An unsubsidized loan is a fixed-rate, non-need based loan made directly by the Federal Government. This loan is the same as the regular subsidized Direct Loan with the exception that students must make interest payments while in school and during the grace period or the interest will be capitalized. Students must be enrolled as at least a half-time student to be eligible.

Important note:

In order to be eligible for Direct Loans, students must be fully accepted into their program at La Salle and meet the following enrollment criteria:

• Undergraduate students: Enrolled in a minimum of 6 credits/semester, or a minimum of 6 credits in summer session
• Graduate students: Enrolled in a minimum of 3 credits of graduate-level coursework

First-time borrowers must complete a Master Promissory Note (MPN) online at www.studentloans.gov. The MPN is a legal document on which the borrower’s signature represents a promise to repay future disbursed loans.

In addition, Loan Entrance Counseling is required for all first-time Federal Direct Loan borrowers. Entrance Counseling can be completed online at www.studentloans.gov. During your online Counseling session, you will be informed of your rights and responsibilities as a borrower, and the terms and conditions associated with borrowing through the Federal Student Loan program.