To apply for Federal Direct Loans, visit the Student Checklist on my.CSS (loan section) for more details.
The Federal Direct Subsidized Loan is awarded to students who demonstrate financial need as determined by the FAFSA. Interest on a Federal Direct Subsidized Loan is paid by the federal government while the student is enrolled at least half-time (six credits).
The Federal Direct Unsubsidized Loan is not a need-based loan. Interest accrues on this loan before repayment. The student has the option to make interest payments during the in-school period, or to allow the accrued interest to be capitalized (added on) to the principal balance.
- $5,500 – Freshman (up to $3,500 may be subsidized)
- $6,500 – Sophomore (up to $4,500 may be subsidized)
- $7.500 – Junior and Senior (up to $5,500 may be subsidized)
- Dependent annual limit plus
- $4,000 – Freshman and Sophomore (always unsubsidized)
- $5,000 – Junior and Senior (always unsubsidized)
- $31,000 – dependent limit (no more than $23,000 can be subsidized)
- $57,500 – independent limit (no more than $23,000 can be subsidized)
Federal Nursing Loan
The Federal Nursing Loan is a low-interest loan (fixed 5 percent) awarded to students who demonstrate high financial need as determined by the results of the FAFSA and are fully accepted into the Nursing program. Funding is limited.
Federal Direct Parent PLUS Loan
A Federal Direct Parent PLUS Loan is an excellent option for families who need to borrow beyond the Federal Direct Loan limits. This loan can be used by parents to borrow on behalf of dependent undergraduate students. A credit check is required and performed by the U.S. Department of Education. If a parent is denied this loan, and chooses to appeal the decision, or apply with an endorser, there will be a required financial counseling session to complete before any funds are released to the school.
There is a loan origination fee associated with this loan; you may increase your parent PLUS loan amount by $555 to offset this amount if needed.
Federal Graduate Student PLUS Loan
A Federal Graduate Student PLUS loan option can be a good option for a graduate student who needs to borrow beyond the Federal Direct Loan limits. A credit check is required and performed by the U.S. Department of Education. If the student is denied, the student has the right to appeal the decision or apply with an endorser. Students must complete a required financial counseling session before any funds are released to the school.
There is a loan origination fee associated with this loan; you may increase the loan amount to offset this amount if needed.
Private loans are available through banks, credit unions, and the Office of Higher Education, and are available with the student as borrower. The list is provided as a service to you but you are welcome to select any lender for your private educational loan. Most of these loans require the student to have a credit-worthy cosigner.
Student loan Code of Conduct
All loans at St. Scholastica are governed by the Student Loan Code of Conduct. Please read this document carefully before accepting any loans.
Loan Forgiveness Programs
Learn more about these loan forgiveness programs by visiting their websites.
- Minnesota Health Professional Loan Forgiveness Program
- Wisconsin Health Professions Loan Assistance Program
- HRSA Nursing Education Loan Repayment Program
- National Health Service Corps
- Federal Student Aid Forgiveness, Cancellation and Discharge Programs
- NHSC Substance Use Disorder Workforce Loan Repayment Program