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Student Loans

Depending on a student's financial need, their Federal Direct loan could be a combination of both subsidized and unsubsidized.

Annual Subsidized and Unsubsidized
Direct Loan Limits for Undergraduate Students 

Grade Level Dependent Students 
(Subsidized and Unsubsidized)
Independent Students or
Dependents with Plus Denials
(Subsidized and Unsubsidized)
(0-29 Earned Credits)
$3,500 (sub)+ $2,000 (unsub) $3,500 (sub)+ $6,000 (unsub)
(30-59 Earned Credits)
$4,500 (sub)+ $2,000 (unsub) $4,500 (sub)+ $6,000 (unsub)
(60-89 Earned Credits)
$5,500 (sub)+ $2,000 (unsub) $5,500 (sub)+ $7,000 (unsub)
Earned Credits)
$5,500 (sub)+ $2,000 (unsub) $5,500 (sub)+ $7,000 (unsub)
Aggregate Limits Undergraduate Subsidized Limit $23,000
Undergraduate Dependent Combined Limit (subsidized and unsubsidized)  $31,000
Undergraduate Subsidized Limit  $23,000
Undergraduate Independent Combined Limit (subsidized and unsubsidized)  $57,500


Graduate and Professional Students

The Federal Stafford loan is a low-cost, fixed-rate federal student loan available to graduate and professional school students, not just undergraduate students. Federal Stafford loans are the most common – and among the lowest-cost – way to pay for graduate and professional school. As of July 1, 2012, only unsubsidized Federal Stafford loans are available to graduate students. Listed below are some benefits of the Federal Stafford Loan for Graduate and Professional Students:

1.    Low fixed interest rate (unsubsidized).

2.    Borrow up to $20,500 per year.

3.    No payments while enrolled in school.

4.    Acceptance not based on credit.

5.  Graduate Subsidized Limit (including all undergraduate loans)  $65,500

6. Graduate Combined Limit (including all undergraduate loans)  $138,500

What additional steps must I take to receive my loans?

If your financial aid package includes federal student loans,

You can view your awards, as well as view Terms and Conditions, on your MyCU account by following the steps below:

1. Log into your MyCU Account
2. Click on Self Service under Tools
3. Click on Financial Aid tab
4. Click on Award
5. Click on Award by Aid Year
6. Select aid year
7. Click on Accept Award Offer

If it is your first time receiving a Direct Loan, please go to to complete: 

Entrance counseling, a tool to ensure you understand your obligation to repay the loan; and

Sign a Loan Agreement or (Master Promissory Note), agreeing to the terms of the loan.

The PLUS Loan

Plus loans are for graduate or professional students and parents of dependent undergraduate students.  The borrower must not have an adverse credit history, and the maximum loan amount is the cost of attendance minus any other financial aid received.  CU requires the Plus Application to be submitted through

If you are eligible for a Direct PLUS Loan, you will be required to sign a Direct PLUS Loan Master Promissory Note (MPN) at, agreeing to the terms of the loan. Graduate or professional students who haven't previously received a PLUS loan will also be required to complete entrance counseling at  

If I have an adverse credit history, is there any way I can still get a Direct PLUS Loan?

There are two ways that you may still be able to qualify for a Direct PLUS Loan.
First, you can receive a Direct PLUS Loan if you obtain an endorser (similar to a cosigner) who does not have an adverse credit history. (A credit check will be performed on the endorser.) An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay it. If you’re a parent Direct PLUS Loan applicant, the endorser can’t be the child on whose behalf you are borrowing.

Second, you have the option of trying to qualify by documenting to the satisfaction of the U.S. Department of Education that there are extenuating circumstances related to your adverse credit history.

If you qualify by obtaining an endorser or by documenting to the satisfaction of the U.S. Department of Education that there are extenuating circumstances related to your adverse credit history, you’ll also be required to complete PLUS counseling before you can receive a Direct PLUS Loan.

If you apply for a Direct PLUS Loan and are notified that you have an adverse credit history, you’ll be given detailed information on the options for qualifying by obtaining an endorser or submitting documentation of extenuating circumstances, along with instructions on how to complete the required PLUS counseling.

For more information contact the U.S. Department of Education Student Loans Support Center at 800-557-7394.

I’m a parent who can’t qualify for a Direct PLUS Loan to help pay for my child’s college expenses. Where can we get the additional funding my child needs for school?
If you’re unable to obtain a Direct PLUS Loan, your child may be eligible to receive additional Direct Unsubsidized Loan funds to help pay for his or her education.
Is there a guide to assist me with student loan repayment?

Click here to learn more about student loan repayment

For student loan consolidation information, click here

Why am I receiving communication from Inceptia?
Concord University has partnered with Inceptia, a division of National Student Loan Program (NSLP), to provide you with FREE assistance on your Federal student loan obligations to ensure successful, and comfortable, loan repayment. Inceptia’s friendly customer representatives may reach out to you during your grace period to answer questions you have about your loan obligation and/or repayment options. Inceptia is not a collection agency. We’ve partnered with them to inform you of a wide variety of possibilities such as alternative repayment plans, deferment, consolidation, discharge, forgiveness, and forbearance options. Inceptia will stay in touch with you via phone calls, letters, and/or emails to help you understand your repayment timing and options. For additional resources including information on repayment options, please visit Inceptia’s Federal Student Loan Overview website at

Loan Forms and Links

First Time Loan Acceptance Checklist
Loan Adjustment Form
Direct Student Loan Entrance Counseling
Direct Student Loan Exit Counseling

Private Education Loans

Private Education Loans, also known as Alternative Education Loans, help bridge the gap between the actual cost of your education and the limmited amount the government allows you to borrow in its programs. Private loans are offered by private lenders and there are no federal forms to complete.

Federal education loans are less expensive and offer better terms than private student loans, so exhausting your eligibility for the federal loans before resorting to private student loans is a better option. It is best to get as much information as possible before you begin the process.

The chart below provides a summary of the differences:
Federal Student Loans Private Student Loans
No repayment necessary until you graduate, leave school, or change your enrollment status to less than half-time. Many private loans require payments while you are still in school.
The interest rate is fixed and is often lower than private loans--and much lower than some credit card interest rates. View the current interest rates on the federal loan site. Private student loans can have variable interest rates, some greater than 18%. A variable rate may substantially increase the total amount you repay.
Undergraduate students with financial need will likely qualify for a subsidized loan where the government pays the interest while you are in school at least half-time. Private student loans are not subsidized. No one pays the interest on your loan but you.
You don't need to get a credit check for most federal student loans (except for PLUS loans). Federal student loans can help you establish a good credit record. Private student loans may require an established credit record. The cost of a private student loan will depend on your credit score and other factors.
You will not need a co-signer to get a federal student loan in most cases. You may  need a co-signer.
Loans can be consolidated into a Direct Consolidation Loan. Learn about your consolidation options. Private student loans cannot be consolidated into a Direct Consolidated Loan.
If you are having trouble repaying your loan, you may be able to temporarily postpone or lower your payments. Private student loans may not offer forbearance or deferment options.
There are several repayment plans, including an option to tie your monthly payment to your income. You will need to check with your lender to find out your repayment options.
There is no prepayment penalty fee. You will need to check with your lender about prepayment penalty fees.
You may be eligible to have some portion of your loans forgiven if you work in public service. Learn about loan forgiveness programs. It is unlikely that your lender will offer a loan forgiveness program.
Free help is available at 1-800-4-FED-AID and on our website. The Consumer Financial Protection Bureau's private student loan ombusdsman may be able to assist you if you have concerns about your private student loans.
Some of the major considerations involved in choosing a private lender include cost, flexibility and customer service!

We advise you to only borrow what is truly needed to pay for qualified educational expenses. When borrowing to finance your education, you should give serious consideration to the loan amounts needed throughout your entire education. You will want to make sure you can comfortably afford your student loan indebtedness and estimated expected monthly payment based on your expected income upon entering repayment.


How do i apply for a private student loan?

  • Make sure you have completed the FAFSA and accepted your annual maximum in Federal Direct Student loans, and exhausted all other financing options.
  • Consider applying with a willing, creditworthy co-signer, as doing so will likely increase your chances of approval and potentially lower your interest rate.
  • Choose a lender. You have the right to select the private lender of your choice whose loan products best suit your eligibility and needs. Elm Select is a private loan search engine where you can search and compare different lenders and loan products. Neither Concord University nor the Office of Financial Aid intends any specific endorsement of these lenders.
  • Submit the completed Self-Certification Form if your lender does not use Elm for certification.
  • The lender with whom the student and/or co-signer apply will conduct a pre-approval credit investigation and notify the applicant(s) as to approval or denial. If approved by a lender for a private student loan, the student and co-signer will need to complete a Master Promissory Note (MPN).
  • Loan proceeds will be sent directly to Concord University. The proceeds will be applied to the student account to clear any balances, and remaining funds will be direct deposited, or mailed directly to the borrower if direct deposit is not set up.