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Undergraduate Students - Student Loans

To apply for the loans indicated below, the Free Application for Federal Student Aid (FAFSA) is required.

 

Nursing Student Loan

These loans are a low interest (5%) loan from the federal government and Fitchburg State. Interest charges and repayment begins nine months after the student graduates, withdraws or drops below half-time status. Repayment can be extended for as long as ten years. 

Federal Direct Stafford Loan

Federally guaranteed student loan administered by the university. Subsidized Direct Loans are need-based loans whose interest is paid by the government while the student is enrolled at least half-time. Students are responsible for the interest on an Unsubsidized Direct Loan for the life of the loan. Repayment of principal begins six months after the student graduates, withdraws or drops below half-time status.

Annual Direct Stafford Loan Limits
Grade Level Dependent Independent
Freshman $5,500 $9,500
Sophomore $6,500 $10,500
Juniors/Seniors $7,500 $12,500
Graduate Students   $20,500

These loan limits include both subsidized and unsubsidized amounts and cannot exceed your cost of attendance minus other financial aid. You are required to complete a Master Promissory Note (MPN) and Entrance Counseling online.