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 Loan Options 

 

SPOTLIGHT

Slippery Rock University awards Federal Direct Loans to eligible students.  Also, students and parents can borrow PLUS (for parents of undergraduate students or Graduate students) loans through Department of Education Direct Loan Program or an Alternative Private Education Loan to meet their educational expenses each year up to the cost of attendance.  

Federal Direct Loans require that all new borrowers complete Entrance Counseling and a Master Promissory Note (MPN).  Slippery Rock University also requires students to accept, decline or cancel their awarded Direct Subsidized and/or Unsubsidized Loans on MySRU.  

Note: Federal Direct and Federal PLUS Loans can be disbursed only when the student has actually begun attendance in a total of six credits.  It is the attendance in the 6th credit of class that constitutes eligibility for federal financial aid.  In the case of 8 week Sessions, this may result in later disbursement. Please see the following examples below:

Example 1: If a student enrolls for 3 credits in the Fall semester 8 week Session 1, beginning  in August, but does not begin enrollment in an additional 3 credits (constituting half-time enrollment) until the 8 week Session 2, beginning in October, the  Federal Direct or Federal PLUS loans disbursement will not occur  until approximately 10 days prior to the start of their second 8 week class.  Refunds will be issued to students by the Student Accounts Office shortly after disbursement.  

Example 2: If a student enrolls in a 3 credit course during Summer pre-session, but does not begin enrollment in the second 3 credit course until Session 1 (or Session 2), the Federal Direct or Federal PLUS loans disbursement will not occur until approximately 5 days prior to the start of their Session 1 class (or Session 2).  Refunds will be issued to students by the Student Accounts Office shortly after disbursement.

Therefore, students who will not begin attendance in a total of six credits until later in the semester will need to plan accordingly for the purchase of any books or materials for their classes.  Also, please note that if a student adjusts their schedule (drops the class) after a loan disbursement has been made which now makes the student less than half-time, the loan will need to be cancelled and will result in a balance due to SRU.

There are separate guidelines for disbursement of aid for other programs, please visit www.sru.edu/finaid for additional information.

 PLUS Appeal/Endorser Intention Form

 Additional Loan-Related Resources:

Undergraduate (Bachelor's Degree) Students:

Who
Applies

Loan Type

To Apply:

Entrance Counseling Requirement
(
First Time Borrowers)

Master Promissory Note Requirement(First Time Borrowers)

Student

Direct Loan 

FAFSA

Entrance Counseling Instructions

Instructions for signing your MPN

Student

Perkins Loan

FAFSA

Not Applicable

Instructions for signing your MPN

Parent

Parent PLUS Loan

FAFSA & ParentPLUS Application

Not Applicable

Complete online at StudentLoans.gov.

Parent/

Student

Alternative Private Education  Loan

Contact lenders and follow their instructions for application.
Graduate Level Students:

Who
Applies

Loan Type

To Apply:

Entrance Counseling (First Time Borrowers)

Master Promissory Note (First Time Borrowers)

Student

Direct Loans

FAFSA

 

Entrance Counseling Instructions

 

Instructions for signing your MPN

Student

Graduate PLUS Loan

FAFSA+Grad PLUS Application

Complete online at StudentLoans.gov

Complete online at StudentLoans.gov.

Parent/

Student

Alternative Private Education Loan

Contact lenders and follow their instructions for application.
Teacher Certification Students:

Who
Applies

Loan Type

To Apply:

Entrance Counseling (First Time Borrowers)

Master Promissory Note (First Time Borrowers)

Student

Direct Loans

FAFSA

Entrance Counseling Instructions

  Instructions for signing your MPN

Parent

Parent PLUS Loan

FAFSA & Parent PLUS Application

Not Applicable

Complete online at StudentLoans.gov.

Parent/

Student

Alternative Private Education Loan

Contact lenders and follow their instructions for application