Loans are funds that must be repaid with interest, usually after the student leaves college. Students must meet eligibility requirements to qualify for federal student loans. Student loans are a serious financial obligation, and we encourage you to be very careful with your student loan borrowing. It is easy to incur a large student loan debt through these loan programs that will impact your financial future for years to come. For more detailed information regarding loans please visit

William D. Ford Federal Direct Student Loan Program

Direct student loans are low-interest loans for students and parents to help pay for the cost of a college education. The lender is the U.S. Department of Education although you will deal with a private loan servicer on most matters related to your loan.

Federal regulations require student loans to be paid in two equal installments. If you have a loan for the entire academic year you will receive half the amount in the fall and half in the spring. If your loan is for one semester only you will receive two disbursements, one at the beginning of the semester and one mid semester. All first time freshman level loan borrowers have a required 30 day waiting period from the day classes begin before their loans can be disbursed.

The Direct Subsidized Loan is a loan for undergraduate students with financial need. The interest rate is set annually by federal law. These loans come directly from the Department of Education.  The federal government pays the interest on subsidized loans while you are still in school, and repayment begins six months after you graduate, leave school, or drop below half-time enrollment.  

The Direct Unsubsidized Loan is a loan for undergraduate and graduate students that have no financial need. The interest rate is set annually by federal law. These loans come directly from the federal government. The federal government does not pay the interest on unsubsidized loans while you are still in school, and repayment begins six months after you graduate, leave school or drop below half-time enrollment.

The Direct Parent/Graduate PLUS Loan is a loan for parents of undergraduate students as well as graduate students and requires a separate application at

Interest rates and loan fees are set annually by federal law. PLUS loans go into repayment 60 days after the loan is fully disbursed. The amount of a Parent PLUS loan is based on the student’s cost of attendance and any additional need they may be receiving.

All federal student loans are reported to and tracked through the National Student Loan Data System (NSLDS). NSLDS records are accessible to all authorized users including students, schools, student loan guaranty agencies, lenders, federal agencies and other authorized users. Students and parents may view and keep track of their federal loan debt by logging into the National Student Loan Database with their individual FSA ID and password.

Subsidized Loan Limit Usage (SULA)

This provision limits first time loan borrower’s eligibility for Direct Subsidized Loans to not exceed 150% of the borrower’s educational program. The 150% limit provision applies to first time loan borrowers on or after July 1, 2013. In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program. This is called your “maximum eligibility period.” You can usually find the published length of any program of study in your school’s catalog.

Your maximum eligibility period is based on the published length of your current program. This means your maximum eligibility period can change if you change programs. Also, if you receive Direct Student Loans for one program and then change to another program, the Direct Subsidized Loan you received for the earlier program will generally count against your new maximum eligibility period.

In addition, if you continue to be enrolled in any undergraduate program after you have received Direct Subsidized Loans for your maximum eligibility period, the Department of Education will no longer (with certain exceptions) pay the interest that accrues on your Direct Subsidized Loans for periods when they would normally have done so. For addition please review the following SULA fact sheet.

To apply for a federal student loan complete the Free Application for Federal Student Aid (FAFSA) and apply for admission to Rogers State University. After you have been awarded, you will receive an award letter with instructions to accept your awards, complete entrance counseling and sign a Master Promissory Note for any loans you choose to accept.

Loans are disbursed directly to the University and applied to your account. Any remaining balance after all your charges have been paid will be refunded back to you. Loan amounts vary based on grade level, financial need, and other types of aid received.  For additional information on loan limits, rates and eligibility view the current federal loan fact sheet.

Students must complete an Exit Counseling session once they graduate, fall below half-time status, or sit out of school for a period longer than six months.

Alternative/Private Education Loans

Alternative and private education loans are non-federal student loans offered by private lenders.  Students who apply for these types of loans may need a credit-worthy cosigner. RSU recommends that students first determine their eligibility for federal grants or student loans as those typically have terms that are more favorable than those offered by private lenders. While we do not recommend specific private lenders we do provide access to a list of lenders who offer this service for students to evaluate.

Student Loan Code of Conduct

In August, 2008, Congress enacted and the President signed into law the Higher Education Opportunity Act (HEOA), reauthorizing the Higher Education Act of 1965, as amended. Among its many provisions, the HEOA requires every institution participating in federal financial aid programs to adopt a code of conduct and display it prominently on its website.

In addition to the requirements of the HEOA, as members of the National Association of Student Financial Aid Administrators (NASFAA), Rogers State University financial aid personnel also adhere to the NASFAA Statement of Ethical Principles and Code of Conduct which contains principles specific to the financial aid profession.

Consistent with the requirements of the HEOA and the NASFAA Statement, Rogers State University has adopted this Code of Conduct (pdf) for financial aid professionals.