Federal Direct Loan
You must have completed the 2012/2013 FAFSA in order to be eligible for the loan. This can be completed at www.studentloans.gov.
- All first-time borrowers are required to complete Entrance Counseling and sign the MPN at this same web-site.
- Prior borrowers who previously signed an MPN with a lender and have not yet signed an MPN with the Federal Government must do so to receive a loan
To sign a new Master Promissory Note (MPN) for the Federal Direct Loan (formerly Stafford Loan) please go to www.studentloans.gov.
Federal Perkins Loan
The Federal Perkins Loan is a campus-based federal program which is awarded to students on the basis of financial need.
It is interest free and non-repayable until nine months after termination of education, at which time it becomes repayable at five percent interest.
Federal Direct Plus
A parent of a dependent student can apply for a Direct PLUS loan at www.studentloans.gov
Federal Direct Grad Plus
A graduate student can apply for a Graduate PLUS at www.studentloans.gov
Alternative Loans at
Many private loan programs are available to families ineligible for federal financial aid or those in need of additional funds for education.
Interest rates, repayment terms, and maximum amounts available vary by program. Loan approval is generally based on creditworthiness and ability to repay.
The interest on most alternative loans accrues while the student is in school.
However, in some cases it can be deferred until after graduation or when the student ceases to be enrolled at least half-time.
Average Loans Indebtness
As with any loan, careful consideration should be made in determining the amounts to be borrowed, as the loan must be repaid. The average loan indebtness of a student at East Stroudsburg University about $22,300 (this figure includes Federal Direct Loans, Federal Plus Loans, Federal Perkins Loans and Alternative Loans).
Exit Counseling for Student Borrowers
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's (ED's) central database for student aid. Students can visit the NSLDS for Exit Counseling information.