Loans

Student Loans

The information below covers federal loan programs for both undergraduate and graduate students, along with a tool for comparing private loan options.

Loans for Undergraduate Students

Federal Direct Student Loan Program

The Federal Direct Student Loan program is a loan funded by the federal government to help pay for your education. A federal student loan is borrowed money you must repay with interest. Students who demonstrate financial need may receive a subsidized loan which means the government will pay the interest while you are in school. Unsubsidized loans are made to eligible undergraduate, graduate and professional students and is not based on financial need. This loan type accrues interest while you are in school. To be eligible, students must be enrolled at least half-time in a degree seeking program and must complete the Free Application for Federal Student Aid (FAFSA) each year.

All undergraduate annual loan amounts are subject to proration and limitations based on cost of attendance minus other financial aid. Increased loan eligibility is available for those students who advance to the sophomore or junior grade level at the end of their fall term. Students must self-identify by contacting our financial aid office at the start of the spring term.

Maximum Loan Amounts

Federal Direct PLUS Loans

Federal Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other forms of financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.

Step 1. Student should file the FAFSA (www.fafsa.ed.gov)

Step 2. Parent should visit www.studentaid.gov & SIGN-IN using the parent’s information.

• Select “Apply for a PLUS Loan”
• Select “Complete PLUS Request for Parents” and complete the four steps. A credit check will be completed during this process.

If the credit check is denied:

• Please continue to Step 3 listed below

*If a Parent PLUS is denied, freshmen and sophomores may borrow an additional $4,000 unsubsidized Direct Loan and junior and seniors $5,000.

If the credit check is accepted:
*If you are a previous Direct PLUS Loan Borrower, skip to step 3 below

• Select “Complete a Master Promissory Note”
• Select “Complete a PLUS MPN for Parents”

Step 3. Student will be awarded the amount parentrequested for the PLUS loan via application at studentloans.gov.

Questions Regarding the MPN should be directed to the Department of Education Customer Service Center (1.800.557.7394)

Loans for Graduate Students

Federal Direct Student Loan Program

The Federal Direct Student Loan Program enables a student to borrow directly from the government. A graduate student must be enrolled for at least three credit hours and must submit a FAFSA. The Financial Aid Office will counsel students as to the types of loans they may be eligible to receive and as to the amount they may borrow. New borrowers must complete an online entrance counseling session and sign a Master Promissory Note before a loan can be disbursed.

These requirements must be completed online at studentaid.gov using the student’s FSA User ID.

A graduate student may be eligible to borrow up to $20,500 per award year in a Federal Unsubsidized Student Loan, with a $100,000 aggregate limit. 

Repayment of the loan begins six months after the student graduates or ceases to be enrolled on at least a half-time basis at an institution of higher education.

Federal Direct Graduate PLUS Loan

The Federal Direct Graduate PLUS loan is a low-interest loan that graduate students may borrow on their own behalf. FAFSA completion is required to determine eligibility. A new PLUS Loan application is required for each academic year, even if the student has been awarded a PLUS Loan in a previous academic year.

Repayment begins sixty days after the loan is disbursed or may be deferred until six months after the student graduates or drops below half-time status. A student may apply for a loan amount up to the Cost of Attendance (COA), as determined by the University, less any other financial aid. We encourage students to borrow only the amount needed to cover educationally related expenses.

In addition to the Grad PLUS Loan application, new borrowers are required to complete the following:

• Online Entrance Counseling
• Grad Master Promissory Note

For applicants with adverse credit: You may still be eligible for a Grad PLUS Loan if initially denied. Visit studentaid.gov for more information. Applicants with adverse credit whose applications are denied may choose to appeal the credit decision or seek an endorser for their PLUS Loan.

Note: Starting July 1, 2026, Direct PLUS Loans are no longer available to graduate or professional students unless you qualify for the limited exception. To qualify, you must have been enrolled in your program of study as of June 30, 2026, borrowed a Direct Loan for that program before July 1, 2026, and remain continuously enrolled in the same program at the same school.

Private Education Loans

Private education loans can help students pay educational expenses not covered by other financial aid.

Before applying, consider federal loans first. Students should consider all available federal financial aid before applying for a private education loan. Federal loans may offer benefits and protections that private loans do not.

Compare Your Options

Private education loans are offered by various lenders. Students are free to choose any lender and are not required to use a lender recommended by North Greenville University.

When comparing lenders, consider:

• Interest rates
• Fees
• Repayment terms
• Eligibility requirements
• Cosigner requirements
• Enrollment requirements

Private loans are generally based on creditworthiness, and a cosigner may be required.