US Federal Student Aid

U.S. FEDERAL STUDENT AID

The University of Windsor participates in the William D. Ford Federal Direct Loan (Direct Loan) Program. U.S. citizens and permanent residents of the United States who are attending the University of Windsor may qualify for the federal loan program.

⇒ The following programs are not Direct Loan eligible programs:

          *  Certificate
          *  Non-degree
          *  Professional Education
          *  Teacher Certificate
          *  Medical or Nursing

Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's post-secondary education. The lender is the U.S. Department of Education (the Department) rather than a bank or other financial institution.

Note: Students and parents who previously received loans through the Federal Family Education Loan (FFEL) Program now borrow through the Direct Loan Program. The Direct Loan Program offers the same types of loans as the FFEL Program and Direct Loans generally have the same terms and conditions as FFEL Program loans, but instead of a bank lending the money, the U.S. Department of Education (the Department) lends the money directly to students and parents through the University of Windsor. There are also some differences in the names of the loans. The FFEL Program's Federal Stafford Loans (subsidized and unsubsidized) are called Direct Subsidized Loans and Direct Unsubsidized Loans in the Direct Loan Program, Federal PLUS Loans are called Direct PLUS Loans.

Direct Subsidized Loans are for students with demonstrated financial need, as determined by federal regulations. No interest is charged while you are in school at least half-time, during your grace period, and during deferment periods.

Direct Unsubsidized Loans are not based on financial need; interest is charged during all periods.

Direct PLUS Loans are low interest unsubsidized loans available to parents of dependent students or for graduate/professional degree students. PLUS loans help pay for education expenses up to the Cost of Attendance (COA) minus Estimated Financial Assistance (EFA). Interest is charged during all periods.

Note: PLUS loan borrowers cannot have an adverse credit history - a credit check will be done. If you are determined to have an adverse credit history, you may still receive a Direct PLUS Loan if you obtain an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if the borrower defaults on payment.

** For additional information about Direct Loans, visit www.direct.ed.gov/student.html