Federal Student Loan FAQ



How do I receive a Federal Direct Loan?

To apply for a Federal Direct Loan, you must complete and submit the Free Application for Federal Student Aid (FAFSA) and complete Entrance Loan Counseling, and a Master Promissory Note.


What is the difference between a Federal Direct Subsidized and an Unsubsidized loan?

Federal Direct Subsidized loans are based on financial need. Interest is paid by the government while you are enrolled at least half-time and during the grace period or period of deferment.

Federal Direct Unsubsidized loans are not based on financial need. Interest begins to accrue within 60 days of disbursement.


What is the Federal Direct Parent Loan for Undergraduate Student (PLUS) and how do I apply for one?

The Federal Direct Parent Loan for Undergraduate Students (PLUS) is for parents of dependent students only. PLUS is a non-need-based federal loan available through the federal government. Awards are up to the cost of attendance per academic year, minus other aid.


Am I eligible for a student loan?

The U.S. Department of Education’s federal student loan program is the William D. Ford Federal Direct Loan (Direct Loan) Program. Under this program, the U.S. Department of Education is your lender. To be eligible for a federal student loan you will have to complete the FAFSA application and not be in default on a previous student loan.

To receive a student loan at HSSU you will have to complete a student loan request form. This lets us know that you want a student loan, understand that you will have to pay it back, and how much you will need for the semester/year.

You can find additional details about federal student loans at the Department of Education.

Your loans will be submitted by the Department of Education to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.

All borrower of a Federal Direct Loan (other than consolidated or Parent PLUS loans) will receive comprehensive information on the terms and conditions of the loan and of the borrower’s responsibilities by completing a Master Promissory Note and completing Entrance Loan Counseling at

  This information includes:

  • The effect of the loan on the eligibility of the borrower for other forms of aid
  • An explanation of the use of the Master Promissory Note
  • The seriousness and importance of the students’ repayment obligation
  • Information on the accrual and capitalization of interest
  • Borrowers of unsubsidized loans have the option of paying interest while in school
  • Definition of half-time enrollment and the consequences of not maintaining half-time enrollment
  • Importance of contacting appropriate offices if student withdraws prior to completion of program of study
  • Sample monthly repayment amounts
  • The obligation of the borrower to repay the full amount of the loan regardless of whether the borrower complete program or completes within regular time for completion, is unable to obtain employment upon completion, or is otherwise dissatisfied with or does not receive the educational or other services the borrower purchased from the school
  • Consequences of default
  • Information about the NSLDS and how the borrower can access the borrowers records

Name and contact information for individual the borrower may contact with questions about the borrower’s rights and responsibilities or the terms and conditions of the loan


Are there other requirements for a student loan?

Yes, you will need to complete and exit counseling at once you leave the University for any Reason. This counseling will let you know what to expect moving forward and remind you of the rights and responsibilities you have regarding your federal student loans.

Image of the HSSU seal


Located at 3026 Laclede Ave., St. Louis, MO 63103 | (314) 340-3366

Thank you for visiting In order to ensure compliance with the Acceptable Use and Security Policies of Harris-Stowe State University and those of MORE Net, our Internet Service Provider, internet traffic on this site is monitored. Copyright (©) Harris-Stowe State University. Questions about this and other Web sites owned by Harris-Stowe State University may be directed to Click here to submit feedback or report errors.