Contact Financial Aid

Office: Kearney Hall, 204
Phone: (585) 385-8042
Fax: (585) 385-8044
Email: finaid@sjfc.edu

Federal Direct Student Loan and Graduate PLUS Loan Programs

St. John Fisher College participates in the William D. Ford Federal Direct Student Loan Program and Graduate PLUS Loan Program. The lender of these loans is the federal government and repayment is made directly to the U.S. Department of Education.

Federal Direct Unsubsidized Student Loan Program

The Federal Direct Unsubsidized Student Loan is a non-need based federal student loan. Federal Direct Unsubsidized Student Loans have a fixed interest rate of 5.41% for 2013-14 for loans with a first disbursement date on or after July 1, 2013. The interest rate will not change throughout the life of the loan. The rate for loans disbursed on or after July 1, 2014 is 6.21%. A 1.072% loan fee is charged to loans disbursed on or after December 1, 2013 and before September 30, 2014. Loans disbursed on or after October 1, 2014 will be charged a 1.073% fee. Loan rates and fees are subject to change due to congressional action. Interest begins accruing on the Federal Direct Unsubsidized Student Loan once the loan is disbursed. Interest payments can be made or the interest will accrue and be capitalized.

Application Form

Students must file the Free Application for Federal Student Aid (FAFSA) to be eligible for federal loans.

Requirements

Borrowers must be U.S. citizens or eligible non-citizens, must be enrolled in at least half-time (6 credit hours) during a semester, accepted in a degree-seeking program at St. John Fisher College, and be maintaining satisfactory academic progress for financial aid eligibility.

Additional Information

The loan can be repaid fully or in part at any time without penalty. In the event that you die or suffer permanent and total disability, the loan is forgiven.

Maximum Annual and Lifetime Limits for Federal Direct Loans

Maximum ANNUAL Limits for Federal Direct Student Loans

Loans for Graduate Independent Students (Federal Direct Student Loans)

Amount you are eligible to borrow each academic year

Maximum Unsubsidized Loan

Graduate and Professional Students

$20,500

Health Professional (Pharmacy)

$33,000

Maximum LIFETIME Limits for Federal Direct Student Loans

Maximum Lifetime Loan Amounts (Federal Direct Student Loans)

Student Level

Maximum Subsidized and Unsubsidized

Graduate and Professional Students

$138,500

Health Professional (Pharmacy)

$224,000

How to Apply for a Federal Direct Unsubsidized Student Loan

  1. Complete the FAFSA.
  2. Accept the Federal Direct Student Loan offer(s) on Fish 'R' Net.
  3. FIRST TIME BORROWERS ONLY: Select Sign In under Manage My Direct Loan at StudentLoans.gov. Sign In using your FAFSA PIN. Select Complete Entrance Counseling. Select Graduate Student.
  4. Once you have successfully completed the Entrance Counseling, select You can submit a Master Promissory Note. Select Subsidized/Unsubsidized loan type.

Federal Direct Graduate PLUS Loan Program

Application Form

Students must file the FAFSA to be eligible for federal loans. Students also must have applied for their annual loan maximum eligibility under the Federal Direct Student Loan Program before applying for a Federal Direct Graduate PLUS loan.

Amounts

There are no set annual or aggregate limits. You may borrow up to your full cost of attendance, minus any other financial aid you receive (including Direct Unsubsidized Student Loans, and scholarships).

Requirements

Borrowers must be U.S. citizens or eligible non-citizens, must be enrolled in at least half-time (6 credit hours) during a semester, accepted in a degree-seeking program at St. John Fisher College and maintaining satisfactory academic progress for financial aid eligibility in a graduate or professional program. Loan approval is subject to a credit check based on criteria established by the U.S. Department of Education.

Interest Rate and Repayment

Federal Direct Graduate PLUS Loans have a fixed interest rate of 6.41% for 2013-14 for loans with a first disbursement date on or after July 1, 2013. The rate for loans disbursed on or after July 1, 2014 is 7.21%. This interest rate will not change throughout the life of your loan. A 4.288% fee is charged on loans first disbursed on or after December 1, 2013 and before September 30, 2014. Loans disbursed on or after October 1, 2014 will be charged a 4.292% fee. Loan rates and fees are subject to change due to congressional action. Repayment begins on the date of the last disbursement of the loan and the first payment is due within 60 days after the date the loan is fully disbursed. A Graduate PLUS borrower may receive a deferment while enrolled at least half-time (6 credit hours) at an eligible school. Upon dropping to less than half-time enrollment status, the borrower is not entitled to a grace period on his or her Graduate PLUS Loan.

How to Apply for a Federal Direct Graduate PLUS Loan

  1. Complete the FAFSA.
  2. Accept the Federal Direct Student Loan offer on Fish 'R' Net.
  3. FIRST TIME BORROWERS ONLY: Select Sign In under Manage My Direct Loan at StudentLoans.gov. Sign In using your FAFSA PIN. Select Complete Entrance Counseling. Select Graduate Student.
  4. Once you have successfully completed the Entrance Counseling, select You can submit a Master Promissory Note. Select Graduate PLUS loan type.

For More Information

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