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Financial Aid

Financial Aid

Federal Student Loans

The U.S. Department of Education offers eligible students at participating schools Direct Subsidized and Direct Unsubsidized Loans (some people refer to these loans as "Stafford Loans" or "Direct Stafford Loans"). These federally guaranteed loans are available to Florida Tech students who are U.S. citizens or eligible non-citizens.

To be considered for a federal student loan:

  • Student must file the FAFSA
  • Student must be accepted by FL Tech
  • Student must be enrolled in a degree-seeking program
  • Student must register for at least half time status

If you qualify, your loan options will be presented to you in your financial aid award letter. If you wish to take advantage of the loan(s) presented to you, you must then accept your loan(s).

Federal Student Loan Terms

Federal Loan Program

Program Details (subject to change)

Maximum Annual Award (subject to change)
Direct Subsidized Loan
  • For undergraduate students who have financial need
  • For loans first disbursed on or after July 1, 2018, and before July 1, 2019, interest rate is 5.05%
  • You’re not usually charged interest on the loan during certain periods, such as when you’re in school at least half-time
  • The U.S. Department of Education (ED) is the lender; payment is owed to ED
Up to $5,500 depending on grade level and dependency status* For total lifetime limit, go to StudentAid.gov/subunsub
Direct Unsubsidized Loan
  • For undergraduate, graduate, and professional degree students; financial need is not required
  • For loans first disbursed on or after July 1, 2018, and before July 1, 2019: o 5.04% interest rate for loans made to undergraduate students, and o 6.6% interest rate for loans made to graduate and professional degree students
  • You’re responsible for interest during all periods
  • ED is the lender; payment is owed to ED
Up to $20,500 (less any subsidized amounts received for same period) depending on grade level and dependency status* For total lifetime limit, go to StudentAid.gov/subunsub
Direct PLUS Loan
  • For parents who are borrowing money to pay for their dependent undergraduate child’s education, and for graduate or professional degree students; financial need is not required
  • For loans first disbursed on or after July 1, 2018, and before July 1, 2019, interest rate is 7.6%
  • Borrower must not have adverse credit
  • ED is the lender; payment is owed to ED
Maximum amount is cost of attendance minus any other financial aid student receives

 

For more information on Federal Student Loans please visit Studentloans.gov.

Direct Subsidized Loans

Direct Subsidized Loans are available to undergraduate students who demonstrate financial need, as determined by the FAFSA. The U.S. Department of Education subsidizes the interest on your direct subsidized loan (a) while you're in school at least half-time, (b) for the first six months after you leave school ("grace period"), and (c) during a period of deferment.  For more information visit Studentloans.gov.

Direct Unsubsidized Loans

Direct Unsubsidized Loans are available to undergraduate and graduate students. The borrower is responsible for paying the interest on a direct unsubsidized loan. If you choose not to pay the interest while you are in school, your interest will accrue and be added to the principal amount of your loan.  For more information visit Studentloans.gov.

Accepting Your Loans

You may accept a portion of or the full amount of your loan(s) via Florida Tech's Panther Access Web System (PAWS). To complete the process, new Florida Tech students must also complete entrance counseling session and a master promissory note on StudentLoans.gov. Students must complete all of these steps before their first loan disbursement can be deposited in their student account (returning students with standing loans do not need to repeat the StudentLoans.gov steps again).


For additional assistance with your loans or to adjust the accepted amount, please contact us.