Financial Aid

Financial Aid - Direct Loan Information

Information for the following may be found below:


Deadlines for Direct Loan Applications

Term Deadline
Fall 9th Friday of Semester
Spring 9th Friday of Semester
Summer 6th Friday of Semester

No Loan Offer Requests, Revision Requests or Parent PLUS Applications will be processed if submitted the Friday of the noted weeks above. *No Exceptions*


 Interest Rates


Type of Loan Interest Rate
Direct Subsidized- Undergraduate 4.53%
Direct Unsubsidized- Undergraduate 4.53%
Direct Unsubsidized- Graduate 6.08%
Direct Parent PLUS Loans 7.08%


Types of Direct Loans We Offer

  • Subsidized: for students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school at least half-time, during the grace period, and during deferment periods.
  • Unsubsidized: not based on financial need; interest is charged during all periods, even during the time a student is in school and during grace and deferment periods.
  • PLUS: unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.
  • Consolidation: Eligible federal student loans can be combined into one Direct Consolidation Loan.

Student borrowers are not required to begin making payments until after they drop below half-time attendance.
Your school will tell you how much you may borrow and the types of loans your are eligible to receive. The information below will give you an idea of how much you may be eligible to receive.

Note: PLUS loan borrowers cannot have an adverse credit history (a credit check will be done).


When Applying for a Loan Consider the Following:

Get an idea of your monthly loan payments after you graduate, take a look at our repayment calculator

If you wish to adjust your aid, please submit a "Revision Request" form, accessible via your myEGSC, online form tab.


Direct Subsidized Loan Limits

Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers


Aggregate and Aid Year Loan limits

The maximum amount you can borrow each year in Direct Subsidized and Unsubsidized Loans depends on your grade level and on whether you are a dependent student or an independent student. The following table shows the maximum amount of money you may borrow each academic year in Direct Subsidized and Unsubsidized Loans as well as the total or aggregate amount you may borrow:

Direct Stafford Loan Limits
(Subsidized and Unsubsidized)
  Undergraduates Graduates
  Dependent Independent  
1st year $5,500 ($3,500)³ $9,500 ($3,500) $20,500  for each year
2nd Year $6,500 ($4,500) $10,500 ($4,500)  
3rd and 4th year $7,500 ($5,500) $12,500 ($5,500)  
Aggregate $31,000 ($23,000) $57,500 ($23,000) $138,500

1Except those whose parents are unable to borrow a PLUS loan.
2These limits also apply to dependent students whose parents are unable to borrow a PLUS loan.
3The numbers in parentheses represent the maximum amount that may be subsidized.
4Graduate and professional students are not eligible to receive Direct Subsidized Loans for loan  periods beginning on or after July 1, 2012.
5The aggregate amounts for graduate students include loans for undergraduate study.

The actual loan amount you are eligible to receive for an academic year is determined by your school and may be less than the maximum annual amounts shown in the chart above. The aggregate limits include both Direct Subsidized and Unsubsidized Loans and any subsidized and unsubsidized Stafford Loans received through the Federal Family Education Loan (FFEL) Program.
With a Direct PLUS Loan, a graduate/professional student or the parent of a dependent student can borrow up to the cost of the student's attendance minus other financial aid the student receives.


Credit Check & Endorser Alternative

When you apply for a Direct PLUS Loan, the Department will check your credit history. To be eligible to receive a PLUS loan, you must not have an adverse credit history. If you are determined to have an adverse credit history, you may still receive a Direct PLUS Loan if you obtain an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay the loan. If you are a parent borrowing on behalf of your dependent student, the endorser may not be the student on whose behalf a parent obtains a Direct PLUS Loan. In some cases, you may also be able to obtain a Direct PLUS Loan if you document to our satisfaction that there are extenuating circumstances related to your adverse credit history.


Entrance Counseling

Except for parent Direct PLUS Loan borrowers, if you haven't previously received a loan, you must complete entrance counseling before your school can make the first disbursement of your loan. This helps you to understand your responsibilities regarding your loan.  East Georgia State College requires students to complete the Entrance Counseling on-line.


The Master Promissory Note

To take out a Direct Loan for the first time, you must complete a Master Promissory Note (MPN). The MPN will be provided either by your school or the Department. You must complete the MPN online at the website. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department. It also explains the terms and conditions of your loan(s).

To complete an MPN online, you will be required to use your Department of Education Federal Student Aid ID (FSAID) user name and password. If you do not have an FSAID, you may request one from the Federal Student Aid FSA ID site.

A parent borrower must also request an FSA ID from the Federal Student Aid site to use when completing a PLUS MPN.

In most cases, once you've submitted the MPN and it's been accepted, you won't have to fill out a new MPN for future loans you receive. Unless your school does not allow more than one loan to be made under the same MPN, you can borrow additional Direct Loans on a single MPN for up to 10 years.

If you are applying for a Direct PLUS for the first time as a graduate/professional student, you'll need to complete and sign a PLUS MPN that is separate from the one that you use for your Direct Subsidized and Unsubsidized Loans.

You'll receive a disclosure statement that gives you specific information about any loan that the school plans to disburse under your MPN, including the loan amount, fees, and the expected disbursement dates and amounts.


Exit Counseling

Exit counseling sessions are required of all borrowers of federal and University-administered student loan programs. Exit counseling provides you with information regarding the rights and responsibilities of a borrower and a lender/servicer. You learn about repayment, deferment, and cancellation of your loan. These sessions prepare you to be responsible and effective in repayment of your educational loans.

You are required to complete Exit Counseling when you:

  • are about to graduate
  • leave the University (even if it is just temporary)
  • drop your registration below half-time enrollment
  • transfer to another institution or leave for a National Student Exchange (NSE) experience.

How to complete Exit Loan Counseling:


Student Loan Repayment Information


Loan Lender Locator Instructions

  1. Log in to your myEGSC account
  2. Select BannerWEB
  3. Select Student
  4. Select Student Records
  5. Go to National Student Clearing House
  6. Select Connect
  7. Select Loan Locator
  8. Go to GAURANTOR
  9. You will then be able to view your Loan Lender and their contact information.

Additional Loan Information


Contact Financial Aid: