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These are loan funds provided to the ¾Ã¾ÃÈÈ by the U.S. Department of Education, through Miami. Undergraduate ¾Ã¾ÃÈÈs and graduate ¾Ã¾ÃÈÈs, regardless of their need, qualify for an unsubsidized loan, provided they have filed the Free Application for Federal Student Aid (FAFSA). Interest accrual begins immediately, and the ¾Ã¾ÃÈÈ can choose to pay the interest while enrolled or upon entering repayment. There are annual limits on the amounts that may be borrowed, which vary by the ¾Ã¾ÃÈÈ's academic year in school and the ¾Ã¾ÃÈÈ's dependent or independent status.

These are loan funds provided to the ¾Ã¾ÃÈÈ by the U.S. Department of Education, through Miami. Undergraduate ¾Ã¾ÃÈÈs with financial need can qualify for a subsidized loan. The government pays the interest on the loan while the ¾Ã¾ÃÈÈ remains enrolled at least half time and during certain periods of deferment. There are annual limits on the amounts that may be borrowed, which vary by the ¾Ã¾ÃÈÈ's academic year in school and the ¾Ã¾ÃÈÈ's dependent or independent status.

These are loan funds provided to graduate ¾Ã¾ÃÈÈs by the U.S. Department of Education, through Miami. This federal loan program allows graduate ¾Ã¾ÃÈÈs with no adverse credit history to apply for a loan amount up to their cost of attendance each year, less any other financial aid received. The  must also be submitted before a PLUS Loan Application can be processed. Graduate ¾Ã¾ÃÈÈs may apply for this loan at .

If a graduate ¾Ã¾ÃÈÈ has adverse credit history, they may still receive a PLUS Loan through one of these two options:

1. Obtaining an endorser who does not have an adverse credit history.
2. Documenting to the U.S. Department of Education’s satisfaction extenuating circumstances relating to the adverse credit history.

The amount you can borrow may be limited by factors such as other financial aid you may receive. The loans are for educational purposes and can never exceed the cost of your attendance less any other aid. 

Entrance counseling is required if you have not previously received a Federal Direct Subsidized Loan, a Federal Direct Unsubsidized Loan, or a Direct PLUS Loans for graduate/professional ¾Ã¾ÃÈÈs. Entrance counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You'll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default. Miami will be notified of your status upon completion.

Completing entrance counseling to borrow a loan as a graduate or professional ¾Ã¾ÃÈÈ will fulfill counseling requirements for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans.

Entrance counseling must be completed before loans will disburse to the ¾Ã¾ÃÈÈ’s account. Entrance counseling can be completed at .

Student loans must be accepted and all requirements completed prior to loan disbursements. Students can accept loans and also view outstanding requirements in . In accordance with federal ¾Ã¾ÃÈÈ aid regulations, Federal Direct Loan disbursements may occur as early as ten days prior to the beginning of the semester if all requirements are met.

The interest rate is fixed and is adjusted each year on July 1. There is a loan fee deducted from each disbursement of the ¾Ã¾ÃÈÈ loan. Visit  to view information about interest rates and fees.

The loan will be applied to the ¾Ã¾ÃÈÈ’s account. The loan must be disbursed in two equal amounts at the beginning of each term. If the disbursement is in excess of the amount owed on the bill, a refund will be issued to the ¾Ã¾ÃÈÈ.

Students may cancel all or portions of their loan(s) after the funds have been credited to their account by contacting the One Stop in writing within 30 days after the date of the disbursement notice.

The purpose of exit counseling is to ensure you understand your ¾Ã¾ÃÈÈ loan obligations and are prepared for repayment. You'll learn about what your federal ¾Ã¾ÃÈÈ loan payments will look like after school. You must complete exit counseling each time you leave Miami, drop below half-time enrollment, or graduate. 

Student loans originate with the Direct Loan Servicing Center which, in addition to , provides  to help determine how much to pay and how long it will take to repay the loan based on the plan chosen.

Approximately 7–10 business days after the first disbursement of the loan, the loan is assigned to a loan servicer who will then send information regarding the loan. Repayment of ¾Ã¾ÃÈÈ loans is managed by the loan servicer. Students that graduate, drop below half-time enrollment, or leave school, will enter  into repayment on their Federal Student loan(s) after a six-month grace period. When the loan enters repayment, the servicer will automatically place the ¾Ã¾ÃÈÈ on the Standard Repayment Plan. Students can request a  at any time. The Federal Direct Loan Program offers loan repayment plans designed to meet the needs of almost every borrower and allows them to choose which repayment plan is best for them. Students can review their loans, and obtain their loan servicer contact information, at .

Current ¾Ã¾ÃÈÈs can see information about their estimated educational loan debt from ¾Ã¾ÃÈÈ by visiting our Know Before You Owe page and logging in with their Miami UniqueID and password.

Borrowers who encounter difficulty making monthly loan payments may be able to postpone payments through a deferment or forbearance request. Deferments are also an option for borrowers returning to school after an absence. Borrowers may also be eligible to have Federal Direct Loans forgiven. Visit  for a listing of forgiveness programs.

Loan consolidation may be an option for some borrowers to avoid loan delinquency or a default. A Direct Consolidation Loan allows borrowers to combine one or more federal education loans into a new loan that offers several advantages. For more information, visit .

The guiding principles for ensuring the integrity of the ¾Ã¾ÃÈÈ aid process and the ethical conduct of employees in regard to ¾Ã¾ÃÈÈ loan practices are provided in the Miami Student Loan Code of Conduct.