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Federal Loans

These are loans offered by the federal government. The lender is the U.S. Department of Education rather than a bank or credit union. Learn more about federal loans on the Federal Student Aid website or see loan descriptions below. Recipients of federal loans must meet the following criteria:

  • Submit the FAFSA
  • Be a U.S. citizen or eligible non-citizen
  • Be admitted to a degree-seeking program or an eligible certificate program
  • Be enrolled at least half time (undergraduates = 6+ credits; graduates = 5+ credits; law = 6+ credits) when loan proceeds are received
  • Not be in default on a previous student loan or owe a repayment on a previous federal aid award received at any institution
  • Applicant cannot have an adverse credit history (for Parent and Graduate Plus loans only)
  • Maintain Satisfactory Academic Progress

Federal Perkins Loans are no longer available. If you are a Perkins Loan recipient, see Repaying Loans for more information.

  • Federal Direct Loans

    Federal loans are available to students and/or their parents at low interest rates with the option to defer repayment until after graduation or after the student drops below half-time enrollment. Federal loans are available to students to help meet the cost of education after grant/scholarship options are exhausted. Loans are considered a form of financial aid. However, if a student drops below half-time enrollment, repayment is not deferred.

    Learn more about Federal Direct Loans

    Time Limitation of Direct Subsidized Loan Eligibility for First-Time Borrowers

    There is a limit on the maximum period of time (measured in academic years) that a student can receive Direct Subsidized Loans. In general, students may not receive Direct Subsidized Loans for more than 150% of the published length of their program. Learn more about Loan Time Limits.

    Loan Types:

    • Subsidized - The subsidized loans are awarded to only undergraduate students demonstrating a financial need as determined by the federal processor as a result of your FAFSA. Your loan eligibility is also based on your academic level (see chart). Interest on this loan is subsidized (you are not charged interest) by the federal government while you are in school or during authorized periods of deferments. You begin repayment six months after you graduate or stop attending at least half-time.
    • Unsubsidized - A student does not have to demonstrate financial need to receive this loan. You may borrow the cost of attendance minus all financial aid awarded and based on your academic level (see chart). Interest on this loan is not subsidized by the government. You can choose to pay the interest while you are enrolled, or it will accrue and be added to the principal of the loan that you owe. You begin repayment six months after you graduate or stop attending at least half-time.

    Before the Federal Direct Loan(s) will disburse to your student account, you must do the following:

    1. Accept Aid & Disbursements for your loan on MyFIU
    2. If you are a first-time Federal Direct Loan borrower, complete Entrance Counseling and a Master Promissory Note (MPN) on StudentLoans.gov. Learn more about Receiving Loans.
  • Parent PLUS Loans

    Parent PLUS (Parent Loan for Undergraduate Students)

    In addition to the Federal Direct Loans available to student borrowers, parents of dependent students may borrow additional funds through the Federal Direct PLUS Loan program. The borrower must be a natural parent, adoptive parent or stepparent (if his/her income and assets are considered in the Expected Family Contribution) of the dependent student. Parents may borrow any amount up to the cost of education minus any other financial aid their son or daughter may receive. Eligibility will be based upon a satisfactory credit check. Loans are not automatically renewed. Parents must reapply annually.

    Application Process

    • Submit the FAFSA with the student
    • Complete a Direct PLUS Loan Application at StudentLoans.gov
    • Complete an PLUS Master Promissory Note (MPN) for Parents at StudentLoans.gov
    • If your PLUS Loan is approved, you will receive notification from the U.S. Department of Education. The university will disburse the funds to the student account. The FIU Student Financials will remit any credit remaining to the borrower at the address provided on the PLUS Loan Application.
    • If your PLUS Loan is denied, you will receive notification from the U.S. Department of Education. You will be given the option at that time to obtain an endorser (co-signer) or to appeal the credit decision to continue the loan process. If you do not select one of these options, the student will automatically be offered an additional unsubsidized loan.
    • If your PLUS loan is approved with an endorser or appeal, you must complete the PLUS Credit Counseling at StudentLoans.gov.
  • Graduate PLUS Loans

    Federal PLUS for Graduate + Professional Students 

    Graduate students are now eligible to borrow under the PLUS loan program up to their cost of attendance minus other estimated financial assistance. Graduate PLUS Loans are awarded to all graduate students who meet the eligibility requirement upon receipt of your financial aid award letter for each academic year.

    The loan final approval is based on the borrower credit-worthiness and it will require a credit history approval. Interest payments on this loan are not subsidized by the government. You can choose to pay the interest while you are enrolled at least half time, or it will accrue and be added to the principal of the loan that you owe. You begin repayment six months after you graduate or stop attending at least half-time. 

    If your PLUS Loan is denied, you will receive notification from the U.S. Department of Education. You will be given the option, at that time, to obtain an endorser (co-signer) or to appeal the credit decision to continue the loan process.

    If your PLUS loan is approved with an endorser or appeal, you must complete a PLUS Loan counseling at StudentLoans.gov.


Private/Alternative Loans

Alternative loans are non-federal educational loans available from a variety of national lending institutions. An alternative or private loan is a loan in the student’s name, however, these loans generally require the signature of a credit worthy co-signer. Minimums and maximums vary from these loan programs depending on the lender you choose. 

The following chart provides a list of lenders that FIU students have used. This list is in no way exclusive or exhaustive of all existing lenders. OneStop will honor requests to certify alternative educational loans from any lender, even those that do not appear on the list.

Suggested Lenders1
Bank NamePhoneWebsite
Citizens Bank 1-800-721-3969www.citizensone.com/student-loans
PNC Bank1-800-762-1001www.pnconcampus.com/
CuStudentLoans1-888-549-9050www.custudentloans.org
Regions Bank800-858-7822www.regions.com/smart
Discover Student Loans1-800-STUDENTwww.discoverstudentloans.com
Sallie Mae1-855-429-9759www.salliemae.com
Navy Federal Credit Union1-888-842-6328www.navyfederal.org
Sun Trust Bank1-888-889-5191http://suntrusteducation.com
New Jersey Class Loans1-800-792-8670www.hesaa.org 
Wells Fargo1-800-378-5526www.wellsfargo.com/student

1These lenders may have state residency requirements. Please call the respective lender prior to applying.

How to Apply

Private loan lenders are required to obtain from borrowers an applicant self-certification form when requesting any private educational loans. Do not submit your self-certification form to OneStop, as FIU cannot complete the form for you. Once you have completed the form you will need to submit it to your lender.

Download Private Education Loan Self-Certification Form

The following sections of the form must be completed with your financial aid information available by in your MyFIU:

  1. Select "Financial Aid"
  2. Select the correct "Aid Year" in the table
  3. The loan period is composed of the academic year, the first day of class in the fall term and the last day of classes in the spring term (August to April). The summer term has a separate loan period and its composed of the start and end date of the summer term (May-August).
  4. Sign the form and send it to your lender. Always check with your lender for the possibility of signing your application and Self-Certification Form electronically (E-sign) on your lender’s web site.

 


Institutional Loans

  • Short Term Tuition Loan

    This institutional tuition-only loan is available to degree-seeking students who are enrolled for a minimum of half-time approximately two weeks before the beginning of the tuition payment deadline for each semester (see the Academic Calendar). Short Term Tuition loans are available to students who qualify up until the tuition payment deadline for each semester.

    The Short Term Tuition loan is used only for tuition and is meant to assist in meeting the deadline for fee payment by providing a portion of the cost of tuition based on enrollment. The loan amount is prorated based on the student's enrollment status and grade level and must be repaid within 45 calendar days of the first day of classes. A $25.00 service fee is added. Students who qualify will have a Short Term Tuition Loan link to accept the conditions of the Short Term Tuition Loan when they Accept Aid & Disbursements on MyFIU.

    Once a Short Term Tuition Loan Promissory Note has been completed and posted on your account as a charge, it cannot be canceled or revised.

  • Emergency Loan

    This institutional program is designed to assist degree-seeking students with unforeseen events that are recognized as emergencies. All Emergency Loan Promissory Notes must be accompanied with written documentation of expenses. The maximum loan is $500 per semester and must be repaid within 30 calendar days. There is a $10 service fee.

    Emergency Loan

    Contact OneStop to learn more about the Emergency Loan.

Last updated: February 14, 2019

Live Chat & FAQs

Financial Aid: Loan Disbursement RequirementsLast Updated: Aug 1, 2019

Federal loans are available to students and/or their parents at low interest rates with the option to defer repayment until after graduation or after the student drops below half-time.

Financial Aid: Golden PromiseLast Updated: May 22, 2019

FIU will leverage a combination of federal, state and FIU grants or scholarships to guarantee 100% tuition and fees to Florida residents with a 0 EFC.

Financial Aid: Book AdvanceLast Updated: May 3, 2019

If the total amount of your financial aid award for a semester (excluding FWS & Alternative/Private Loans) exceeds the cost of tuition and fees, you may be eligible for a Book Advance to purchase books and supplies at the beginning of the semester.