Due to the COVID-19 pandemic, UM-Dearborn classes are being held remotely through the end of the semester, Summer I and Summer II. Most campus operations are being conducted remotely and buildings are closed. Before coming to campus please call ahead to determine how services are being delivered. Events have been postponed or canceled, including Spring 2020 Commencement. For more updates please visit the Coronavirus information page

Federal student loans for college or career school are an investment in your future.

When a student borrows a federal student loan (Subsidized or Unsubsidized Direct Loan), it is different than nearly all loans:

  • No credit check
  • No co-signer

You are eligible if you are an eligible student who is accepted in an eligible program and enrolled at least half-time (6 credits for undergraduates, 4 credits for graduate students) at an eligible university.

If you are offered a federal student loan in your award offer by the Office of Financial Aid & Scholarships, you will meet these requirements.  You won't need to worry about a credit check or finding a co-signer.




Federal Direct Loans for Students

  • Interest rate for Subsidized and Unsubsidized Direct Loans is a variable fixed 4.529% undergraduate students
  • Interest rate for Unsubsidized Direct Loans is a variable fixed 6.079% for graduate and professional students
Federal Direct Parent Loans (PLUS)

Parents are able to borrow on behalf of their dependent student through a credit-based loan from the Direct Loan Program.

  • Interest rate is a variable fixed rate of 7.079%
  • FAFSA must be completed by parent and student
  • Student must be half-time and making academic progress
  • PLUS Loans cannot be accepted online and must begin the process by completing the Direct Loan Parent PLUS application
  • Parents borrowing on behalf a their student must complete a Master Promissory Note after approval at studentloans.gov
  • Parents who are declined may seek an endorser or their student may borrow additional unsubsidized loan funds up to his/her grade level limit
Federal Direct Graduate PLUS

Graduate and professional students who need additional funds beyond the graduate loan limitations are able to borrow a credit-based loan through the Direct Loan Graduate PLUS Program

  • Interest rate is a variable fixed rate of 7.079%
  • Student is required to complete the FAFSA
  • Student must be half-time and making academic progress
  • Begin the process by completing the Graduate PLUS Application Form
  • Students borrowing for the first time in the Graduate PLUS Loan Program must complete a Master Promissory Note (MPN) at studentloans.gov
Alternative or Private Loans

Alternative or private loans can be used to supplement federal student loans or when a student is ineligible for federal student loans.  These loans require credit-worthiness and cannot be consolidated with federal student loans.

Student Loan Acceptance and Processing Tips

First Time Borrowers

The Direct Loan Program requires students to complete Entrance Loan Counseling (allow 40 minutes) and a Master Promissory Note (MPN) at studentloans.gov using your FSA ID to enter the secured area.

Office of Financial Aid & Scholarships

University Center (UC)
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