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Loan Options

Federal Student Loans

Loans are a form of financial assistance that must be repaid — usually with interest and generally after you have graduated. Loans can fund tuition and fees, room and board, books and school supplies, and transportation expenses.

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Federal Direct Loans

Funded by the federal government and available directly to college students, Federal Direct Loans can be used to supplement personal and family resources, scholarships, grants, and work study. Depending on your level of financial need, these loans may be subsidized by the federal government or may be unsubsidized. If you are eligible for a subsidized loan, the government will pay (subsidize) the interest on your loan while you attend school, for the first six months after you leave school, and if you qualify to have your payments deferred. If you do not demonstrate sufficient financial need, you will be eligible for an unsubsidized loan, and you will be responsible for the interest from the time the unsubsidized loan is disbursed until paid in full.

Before receiving the loan, you must conduct a brief online entrance interview and sign a Master Promissory Note (MPN). You’ll also need to complete an exit interview when you are ready to leave Florida Southern due to transfer, graduation, etc. Repayment is deferred until six months after graduation or three months after the borrower begins attending school on anything less than a full-time basis.

  • Up to $5,500 per year for first-year students
  • Up to $6,500 per year for sophomores
  • Up to $7,500 per year for juniors and seniors

Federal Parent Loan for Undergraduate Students (PLUS)

With this loan, parents may borrow money to fund any costs not already covered by other sources of financial aid — up to the full cost of attendance. Parents may complete the application online at their lender’s web site.

If you are credit approved and you have not previously completed a Master Promissory Note (MPN), you will be requested to do so. The MPN can be used to take out one or more loans for up to 10 years. Parents who have previously borrowed through the Federal PLUS program will have a MPN on file and can simply indicate the amount for us to certify on the signed award letter.

Repayment begins 60 days after the final loan disbursement, and interest accumulates from the time of the first disbursement. Maximum repayment term for Federal PLUS is 10 years.

For information, visit the Federal Parent Loan for Undergraduate Students (PLUS) site.

Please Note: A denial of the Federal PLUS Loan qualifies a student for additional Federal Direct funds ($4,000 for first- and second-year students; $5,000 for third- through fifth-year students). The denial must be applied for and received every year, along with a request for additional Federal Direct funds, before that portion is certified.

Your federal FSA ID number provides access to the National Student Loan Data System, where you can check the status of your grants and loans. Information about all federal loans is sent to the NSLDS system.

Private Loans

Alternative educational loans in various amounts can help to cover any gaps between other sources of financial assistance and the total cost of your education. Because private loans are subject to credit approval, you may need a credit-worthy cosigner. For information, contact your lender.

We encourage students to consider all options for aid prior before applying for a private loan. Only borrow what is needed to pay for educational expenses (tuition, fees, supplies, room, board, etc.) whenever possible. You can always refuse awarded loan amounts or request lower awards.