{"id":197,"date":"2020-04-14T20:08:02","date_gmt":"2020-04-14T20:08:02","guid":{"rendered":"https:\/\/www.trincoll.edu\/student-accounts\/loans-for-students-and-parents\/stafford-loans\/"},"modified":"2022-04-28T12:51:47","modified_gmt":"2022-04-28T12:51:47","slug":"direct-loans","status":"publish","type":"page","link":"https:\/\/www.trincoll.edu\/student-accounts\/loans-for-students-and-parents\/direct-loans\/","title":{"rendered":"Direct Loans"},"content":{"rendered":"<p>There are two types of Direct Loans:<\/p>\n<p><strong>Subsidized (need based)<\/strong> &#8211; Loan principal is deferred and the government pays the interest on the loan while you are enrolled at least half-time.<br \/>\n<strong>Unsubsidized (non-need based)<\/strong> &#8211; Loan principal may be deferred but interest will accrue. If you choose to defer interest, it will be added to the principal of the loan.<\/p>\n<h3>Interest Rate &amp; Repayment<\/h3>\n<p>Interest rates for both Subsidized and Unsubsidized Direct Loans can be found at <a href=\"https:\/\/studentaid.gov\/sites\/default\/files\/federal-loan-programs.pdf\">https:\/\/studentaid.gov\/sites\/default\/files\/federal-loan-programs.pdf .<\/a>\u00a0 Standard ten-year repayment begins six months after graduation, or ceasing to be enrolled at least half-time. Other repayment options ( income contingent) may be available through the servicing agent when the loan enters repayment.<\/p>\n<p>Deferments are available while the borrower is enrolled at least half time as an undergraduate, while doing graduate or professional studies and for economic hardship as defined by the Department of Education.<\/p>\n<h4>Maximum Loan Amounts<\/h4>\n<p>First Year: $3,500<br \/>\nSecond Year: $4,500<br \/>\nJunior: $5,500<br \/>\nSenior: $5,500<br \/>\nGraduate Students: $20,500<\/p>\n<p>Students may be eligible for an additional $2,000 of <strong>Unsubsidized<\/strong> <strong>Direct Loan<\/strong> upon request.<\/p>\n<p>If a parent is denied the Direct PLUS loan, a student may be eligible to borrow additional <strong>Unsubsidized<\/strong> <strong>Direct Loan<\/strong>: $4,000 first and sophomore years; $5,000 junior and senior years.<\/p>\n<h4>Direct Loan Application Process<\/h4>\n<p><strong>Step 1<\/strong> \u2013 Complete your financial aid documents. A FAFSA can be completed online at\u00a0<a href=\"https:\/\/studentaid.gov\/h\/apply-for-aid\/fafsa\">https:\/\/studentaid.gov\/h\/apply-for-aid\/fafsa<\/a> . Trinity College\u2019s federal school code is 001414. Please contact The Financial Aid Office in writing (email) to request a Direct Loan and inquire if additional documents are needed.<\/p>\n<p><strong>Step 2<\/strong> \u2013 Wait for your financial aid award. Please make sure that all of your financial aid documents have been received by the Financial Aid Office. If they have not, your award cannot be completed. You can check the status of your award and documents on the Financial Aid Office\u2019s Trinity webpage by using your Trinity ID number and the last four digits of your Social Security number.<\/p>\n<p><strong>Step 3<\/strong> \u2013 If a Direct Loan is part of your financial aid award and you do not want the loan, you must submit a Declined Aid Form to the Financial Aid Office indicating you decline the loan. Otherwise, the loan will be accepted and remain as part of your award. If you have no other financial aid, a Direct Loan can be requested by email or in writing to the Financial Aid Office.<\/p>\n<p><strong>Step 4<\/strong> \u2013 Complete your loan documents. All borrowers will need to sign a Direct Master Promissory Note (MPN) online at <a href=\"https:\/\/studentaid.gov\/mpn\/subunsub\/landing\">https:\/\/studentaid.gov\/mpn\/subunsub\/landing<\/a><\/p>\n<p><strong>Step 5<\/strong> \u2013 Direct Loan Disbursement. All first time borrowers will be required to complete Loan Entrance Counseling online at <a href=\"https:\/\/studentaid.gov\/entrance-counseling\/\">https:\/\/studentaid.gov\/entrance-counseling\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are two types of Direct Loans: Subsidized (need based) &#8211; Loan principal is deferred and the government pays the interest on the loan while you are enrolled at least half-time. Unsubsidized (non-need based) &#8211; Loan principal may be deferred but interest will accrue. If you choose to defer interest, it will be added to [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":195,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-197","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.5 (Yoast SEO v25.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Direct Loans - Student Accounts and Loans<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.trincoll.edu\/student-accounts\/loans-for-students-and-parents\/direct-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Direct Loans\" \/>\n<meta property=\"og:description\" content=\"There are two types of Direct Loans: Subsidized (need based) &#8211; Loan principal is deferred and the government pays the interest on the loan while you are enrolled at least half-time. 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