Loans

Low-interest loans for educational expenses are available to students and families. Loans are a type of financial aid that must be repaid. 

• You must complete an Entrance Interview before you can receive your first disbursement at USF (does not apply to PLUS loans).  The Entrance Interview is listed under your “Unsatisfied Requirements” in OASIS if you are required to submit one.
• You may use the Preferred Lender List to help you decide on a lender for your Stafford Loans.
• If you are a first-time Federal Stafford Loan borrower at USF, you must indicate your preferred lender by completing the Stafford Lender Request.  This form is listed under your “Unsatisfied Requirements” in OASIS.
• If you are a first time in college freshman, federal regulations require that your first disbursement be held until 30 days after the start of the term.  If you need help at the beginning of the semester meeting your expenses, see a financial aid counselor regarding an expense loan.
• You must sign a Master Promissory Note (MPN) before loan funds will disburse.  Federal Stafford and Federal PLUS Master Promissory Notes can be completed electronically.  Perkins Loan and USF Loan Promissory Notes are mailed to you by USF’s Purchasing and Financial Services.
• You must accept or decline your loan offers in OASIS.  If you do not accept your offered aid, it may be cancelled.  By accepting your award offer and/or by receiving the funds, you are accepting the responsibility to comply with the eligibility requirements of the award.  Loans also must be accepted before they will count toward your eligibility for deferments and to charge your books to your student account.
• Keep track of how much you borrow and how much your loan payments will be after graduation online through the National Student Loan Database System (NSLDS).
• For an in-school deferment on your loans, please complete the Enrollment Certification Form and return it to the Office of the Registrar in BAY 102.

Federal Stafford Loans

Federal PLUS Loan

Alternative Loans

Federal Perkins Loan

USF Loan

Short Term Tuition Loan

Federal Stafford Loans

• Students must complete the FAFSA to apply for Stafford loans.
• Students must be enrolled at least half-time to receive Stafford loans.  Half-time is six credit hours per semester for Undergraduates and five credit hours per semester for Graduates.
• Students must choose a lender from which to receive Stafford Loans.  Some lenders are listed on USF's Preferred Lender List.
• Subsidized Stafford Loan: the interest on the loan is paid on your behalf by the government while you are enrolled at least half-time, and during grace or deferment periods.
• Unsubsidized Stafford Loan: the interest on the loan begins to accrue within sixty days of disbursement and can be paid while you are in school, or capitalized until you begin repayment. Capitalized interest is added to the principal amount outstanding.
• Stafford loans will go into repayment six months after the student stops attending at least half-time.
• More information about Stafford Loans.

Federal PLUS (Federal Parent Loan for Undergraduate Students ) Loans

• PLUS Approvals result in a loan with debt incurred by the parent on behalf of the dependent student.  If Federal aid has been determined by the awarding school's financial aid office and the cost of the education still has not been met, the parent of a dependent undergraduate student may apply for a PLUS Loan.  The amount available for school certification would be based upon the Student Cost of Attendance less any other aid received.
• PLUS Denials result in the ability of the school to offer additional unsubsidized Stafford loan to the dependent student, with the debt incurred by the student.  
• PLUS Loans can be up to the cost of education minus the financial aid awarded and no more.  Rates on a PLUS Loan are 3.1% plus the 91-day Treasure Bill, but cannot exceed 9%.  Repayment begins 60 days after disbursement.
• See additional information about PLUS Loan under our Information for Parents.
• More information about applying for a Federal PLUS Loan.

Alternative (or Private) Loans

• Loans from private financial banks and credit unions offer another financial option for students.  Alternative loans are not supported or funded by the federal government and typically have higher interest rates.
• Alternative loans are useful if a student does not qualify for federal financial aid, if all the student's expenses aren't met through federal aid, or if the student is enrolled less than half-time (under 6 credit hours per semester).
• More information about applying for an Alternative (Private) Loan.

Federal Perkins Loans

• Perkins Loan is a low-interest (5%) loan for both undergraduate and graduate students with exceptional financial need.
• Students must complete the FAFSA to apply for Perkins loan.
• Student must be enrolled at least half-time to be eligible for Perkins loan.
• Repayment begins nine months after the student stops attending half-time.
• More information about applying for a Federal Perkins Loan.

USF Loans (5%)

• The USF Loan program is a need-based loan program funded by the University. The loan is interest free until repayment begins. The interest rate during repayment is 5%. Repayment begins 9 months after graduation or when the student falls below half time enrollment. This loan program is not a federal loan and therefore cannot be consolidated with Federal Stafford or Federal Perkins Loans.
• If you meet the priority application date (March 1st before the aid year), you are automatically considered for a USF Loan when you complete the Free Application for Federal Student Aid (FAFSA).  However, if you are awarded a USF Loan, you must sign a promissory note with USF's Accounts Receivable in the division of Purchasing and Financial Services, ADM 125 ((813)-974-6029).  You must also complete an Exit Interview, which is administered through Accounts Receivable in the division of Purchasing and Financial Services.
• More information about applying for a USF Loan.

Short Term Tuition Loans

A short-term tuition loan is available each semester to those not receiving financial aid. Applications are available about a month before each semester starts and the deadline to apply is at the end of the Drop/Add period, Friday during the first week of class.  The following requirements apply:

• The loan requires a co-signer who is gainfully employed and cannot be a spouse, student, or retiree.
• The cosigner must be at least 18 years old.
• The applicant must be admitted to a degree program and be enrolled for at least 6 credit hours as an undergraduate or 5 credit hours as a graduate student.
• The applicant must be in good academic standing and have at least a 2.0 GPA.
• The amount that can be borrowed on this loan is equal to the amount of tuition to a maximum of $800 and can be used for tuition purposes only.
• More information about applying for a Short Term Tuition Loan.

USF system information about loan programs offered at USF.