Affordable options to help you invest in your future.
Paying for college shouldn’t be confusing. At NSU, we’ll help you confidently choose the right loan option so you can focus on your goals—earning an affordable degree, launching your career, and joining a vibrant community that invests in your future.
Why this matters: Direct Loans are low-interest loans backed by the U.S. Department of Education—built to help students and parents pay for college with flexible repayment options and trusted servicers. You must be enrolled in at least six hours per semester to be eligible for Federal Stafford and PLUS loans. Any accepted loan will be submitted to the National Student Loan Data System (NSLDS).
Subsidized: Need-based. No interest charged while you’re enrolled at least half-time, during your grace period, and during deferments.
Unsubsidized: Not need-based. Interest accrues in all periods, including while in school, grace, and deferment.
Start with Federal Student Aid
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Unsubsidized loans for parents of dependent students. PLUS can help cover up to the cost of attendance (minus other aid), and interest is charged during all periods. Accepted loans are reported to NSLDS.
You must be the student’s biological, adoptive, or eligible stepparent. Your student must be a dependent enrolled at least half-time at a school that participates in the Direct Loan Program. (Exceptions exist for veterans, wards of court, and other circumstances.) Dependent students must report parent income/assets on the FAFSA.
Parent PLUS borrowers cannot have an adverse credit history (a credit check will be performed). Parent and student must be U.S. citizens or eligible non-citizens, not be in default or owe an overpayment, and meet other general Federal Student Aid requirements.
Learn more: 2023–2024 Do You Need Money for College?
When you apply, the Department of Education checks your credit history. You must not have an adverse credit history to receive a PLUS Loan.
Direct Grad PLUS Loans are not need-based. A completed FAFSA is required. If approved, graduate/professional students may borrow up to the cost of attendance, minus other financial aid, and have PLUS eligibility beyond maximum unsubsidized limits. Enrollment of at least 5 hours is required.
Grad PLUS borrowers must complete entrance counseling, sign a Master Promissory Note, and complete Exit Counseling if you graduate, drop below 5 hours, or no longer attend.
Notice: Perkins funding is no longer available beginning Spring 2018.
(Historic info from CRD) Undergraduate students could be awarded up to $5,500 per year; graduate students up to $8,000 per year. Recipients completed Entrance Counseling and a Master Promissory Note annually and were notified via NSU student email with instructions.
For students who don’t qualify for federal aid or who need funds beyond their federal eligibility, alternative (private/non-federal) loans are an option—but usually more expensive and should be used only if absolutely necessary. In most cases, lender approval requires the student’s and/or co-signer’s credit. The eligible loan amount cannot exceed cost of attendance minus other aid.
Carefully research options and apply for the loan that best fits your needs—after you’ve pursued all federal loans. FastChoice provides lender comparisons and explains borrowing essentials (rate type, grace period, interest, etc.). You are not required to use FastChoice; if you use another servicer, contact NSU for processing.
After you apply, NSU will be notified to certify your loan (not to exceed cost of attendance minus other aid). Disbursements follow the lender’s disclosure timeline, typically aligning with semester start dates. If your lender does not use EFT, a paper check to NSU and the borrower will require your endorsement before funds are credited. The Office of Student Financial Aid will notify you if a paper check needs endorsement.
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Before a private loan can be processed, the federal government requires lenders to collect a self-certification form. It clarifies other financial aid and federal loan options and uses your NSU cost of attendance and expected aid to help determine eligibility. If you have questions, please contact the NSU Financial Aid Office.