FINANCIAL AID
 Direct Loans
The William D. Ford Federal Direct Loan Program
A loan program allows a student to borrow money to help pay for college education. This money must be repaid.
Direct Loans
- The Direct Subsidized Loan is for students who can prove financial need.
- The federal government subsidizes (pays) the interest on the loan as long as you're enrolled in college in at least half-time status and making satisfactory academic progress.
- Interest is also subsidized during the six-month grace period that starts when you leave college or your enrollment drops to less than half-time status. Payment of principal and interest begin immediately after the grace period ends.
- Unsubsidized means the federal government does not subsidize (pay) the interest on the loan. The borrower is responsible for principal and interest from the time loan proceeds and is consummated (delivered to you). Unlike grants and scholarships, loans must repaid.
Applying for a Loan
If you have been offered a student loan and are a first-time borrower, you will be required to complete the following steps:
- First time borrowers must accept loans by returning the award letter or loan amount request form to Rogers State financial aid office. (Either by mail or in person)
Loan Periods Beginning Summer 2010
Upon completion of these steps, your loan will be certified at the Office of Financial Aid.
Students and Parents, please be aware that the loan will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.
Amount You May Borrow
- The amount you are eligible to receive is determined by many factors. This amount will be outlined in your award letter. Consult with the financial aid office for additional information.
Exit Counseling
- Before you leave school or graduate, you are required to complete exit counseling.
The purpose of Exit Counseling is to:
- select a repayment plan
- review deferment, forbearance, and cancellation provisions
- review loan consolidation
- review serious consequences of delinquency and default
You will receive a notice when it is time for you to complete the Exit Counseling requirement. If the Exit Counseling requirement is not met within the designated time frame--typically one semester, you may experience a delay in the disbursement of your financial aid. Also, a hold will be placed on your account and no transcripts will be released.
Repayment Information
Repayment of your Direct loan(s) will begin six months after you graduate, withdraw or drop below half-time enrollment status. Make your payments ON TIME – don’t DEFAULT!
Rogers State University Student Loan Code of Conduct
Rogers State University Student Loan Code of Conduct  was developed in adherence with the requirements
of the Higher Education Opportunity Act (HEOA) of 2008. HEOA requires all institutions participating in the Title IV
Loan Programs to develop, publish, and administer specific bans and prohibitions on certain conduct as it relates to
student lending. The Student Loan Code of Conduct was created to ensure that student and families continue to receive sound and impartial
advice from the Office of Financial Aid and all offices at the Rogers State University as they relate to education loans.
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