In addition, the student will be required to sign a Master Promissory Note in order to receive federal loan funds. The subsidized loan is awarded based on financial need. The Federal Government pays the interest on the loan amount while the student is enrolled at least half-time and up to six months following the student s last date of enrollment. The unsubsidized loan is not based on need. The student has the option to pay the interest on the loan amount while enrolled in school or request deferred payment on the interest.
Priority is given to students who have a prior history of receiving the loan.
Repayment can be deferred until 9 months after last date of enrollment.