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Direct Subsidized Loans and Direct Unsubsidized Loans are federal student loans offered by the U.S. Department of Education (ED) to help eligible students cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school.
Types of Federal Student Loans
Direct Subsidized loans are federally guaranteed loans based on financial need. This loan is only offered to undergraduate students. Interest does not accrue on the loan while you are in school at least half-time or during any future deferment periods. Students are not required to start making payments on this loan until six months after they graduate or drop below half-time. This is known as the "grace period."
Direct Unsubsidized loans are federally guaranteed loans that are not based on financial need. Interest accrues from the time the loan is distributed to your student account. Students are not required to start making payments on this loan until six months after they graduate or drop below half-time. This is known as the “grace period.”
Direct Graduate Unsubsidized loans are federally guaranteed loans that are not based on financial need. Interest begins accruing as soon as the loan is disbursed to your student account. Students are not required to make payments until six months after graduation or if they drop below half-time enrollment. This is known as the "grace period."
Direct PLUS loans are credit-based federal student loans available to parents of dependent undergraduate students as well as graduate or professional students. They are designed to help borrowers pay for educational expenses not covered by other financial aid, up to the total cost of attendance.
Parent PLUS loans (credit approval required) are loans specifically for parents (biological or adoptive) of dependent undergraduate students. Parents can borrow up to the cost of attendance minus any other financial aid the student is receiving.
Direct Graduate PLUS loans (credit approval required) are loans that help graduates cover educational costs that are not covered by unsubsidized loans. Students can borrow up to the cost of attendance minus any other financial aid they have received.
Apply for a PLUS Loan for Graduate or Professional Students.
Note: Graduate Health and Health Professionals are not required to apply. You will be automatically offered Direct PLUS loans.
Private/Alternative Loans are private loans made through lending institutions that allow students to borrow additional funds after they have reached their federal Direct Loan limit. These types of student loans are designed to help students meet the total cost of higher education. Research all possibilities for scholarships, grants, work study, and federal loan programs before borrowing from a private/alternative Loan program
ELM Select is an external website that allows students to review a lender list, compare private loan products, and apply for private educational loans. The lender list includes lenders used by Augusta University students within the past five years and is not exclusive or exhaustive. Augusta University’s Office of Student Financial Aid (OSFA) will certify alternative educational loans from any lender, including those not listed on ELM Select. Students are encouraged to compare lenders and select the loan option that best fits their individual needs, including interest rates, terms, and customer service.
Nursing Student Loans are low-interest loans offered through HRSA for nursing students who are enrolled at least half-time (6 credit hours) in a baccalaureate degree program. Students must demonstrate financial need and submit a Free Application for Federal Student Aid (FAFSA) to be considered.
Short-term loan options are available for continuing students to help cover registration and book expenses. For additional details, please contact our office at OSFA@augusta.edu.