How to Apply for a Federal Direct Loan
Step 1: You must complete and submit a Free Application for Federal Student Aid (FAFSA).
Step 2: Before loan(s) will be awarded, you are required to complete both the Entrance Counseling and Loan Agreement for Subsidized/Unsubsidized Loan (MPN) to agree with the terms of the loan.
Step 3: Students, who wish to receive federal loans at ASU-Beebe, must complete and submit to the Financial Aid office an ASU-Beebe Direct Loan Request form for each academic year and are encouraged to review the Financial Awareness Counseling session prior to the first loan disbursement. Parents interested in the Parent Loan (PLUS) must complete and submit to the financial aid office the ASU-Beebe PLUS Loan Certification Request form and request a Direct PLUS Loan.
- Important Withdrawal Information (Voluntary or Involuntary): Students, who are no longer attending school or drop below 6 credit hours in one semester, begin a grace period and are required to complete Exit Counseling at that time.
You must be enrolled in 6 credit hours toward your ASU-Beebe degree at the time of awarding and at the time of each disbursement to be eligible for federal direct student loans.
Direct Subsidized Loans are loans made to eligible students who have demonstrated financial need as determined by federal guidelines. The government pays the interest on these loans as long as the student remains enrolled in 6 credit hours or more. Interest does not accrue during enrollment, but will accrue during the 6-month grace period.
Direct Unsubsidized Loans are loans made to eligible students, but the student does not have to demonstrate financial need for the loan. The government does not pay the interest on these loans and interest accrues during enrollment as well as during the 6-month grace period.
Direct PLUS Loans are loans made to parents of dependent undergraduate students and graduate or professional students to help pay for education expenses not covered by other financial aid.