Loans Information

Students:

As part of your aid package we have awarded you a Federal Direct Student Loan. In order for loan funds to disburse to your student account you must have a Master Promissory Note and Entrance Counseling on file with our office. If you are a returning student this should not be an issue, however, new borrowers must follow the links below.

You can complete your Student Master Promissory Note here:

https://dlenote.ed.gov/empn/StudentLoanSelector.jsp

You can complete your Entrance Counseling here:

https://www.dl.ed.gov/borrower/EntrCounselingPage.do?cmd=doStart

You can complete your Exit Counseling here:

https://www.dl.ed.gov/borrower/BorrowerLogin.jsp

Please note that a Federal Student Aid PIN (the same PIN you used to sign your FAFSA) is required to complete both of these items; if you need a PIN please go here:

http://www.pin.ed.gov

Parents:

Parents of dependent undergraduate students may apply for the Federal Direct PLUS Loan to cover educational expenses that are not covered by the FAFSA package.

If you are interested in applying for this loan, please complete the 2009-2010 Federal Direct PLUS application and return it to the Financial Aid office. You must have a valid 2009-10 FAFSA on file in order to apply for a Federal Direct PLUS Loan. The link below includes our PLUS Loan Supplement and Parent Application, only the Application needs to be returned to our office.

Plus Loan application

You can complete your Parent Master Promissory Note here:

Please Note: The Promissory Note should only be completed once the parent has received confirmation that the loan has been approved.

https://dlenote.ed.gov/empn/completenew_plus.jsp

Graduate Students:

Students pursuing a Masters or PhD program at the University of Delaware may request funding outside of the Federal Direct Subsidized and Unsubsidized loans they can borrow by filling out a Graduate PLUS Loan Application. Please complete the application below and return it to our Office:

2009-2010 Graduate PLUS Loan Application

You can complete your Graduate Master Promissory Note here:

https://dlenote.ed.gov/empn/StudentLoanSelector.jsp

You can complete your Entrance Counseling here:

Note: This should be completed by first-time Graduate Plus Loan borrowers.

https://www.dl.ed.gov/borrower/EntrCounselingStart.do?cmd=initializeContext

Parents and Students:

Once you have exhausted your Federal availability for Financial Aid, Alternative Loans are another option to fill in the gap between the offered aid and your total Cost of Attendance. Please note that these lenders are for private student loans and are not to be used for Parent PLUS Loans.

The Office of Scholarships and Financial Aid does not sponsor any one lender but urges Parents and Students to seek the lender that best fits their needs. Some lenders include:

For more information about Federal Direct Loans please visit their website:

http://www.ed.gov/offices/OSFAP/DirectLoan/index.html

Announcements

Winter Session 2010

Scholarship and Grant Funding is limited to outside sources; however, you may have remaining Federal Direct Loan eligibility.

If you're a dependent undergraduate student (excluding students whose parents cannot borrow PLUS Loans), each year you can borrow up to:

  • $5,500 if you're a first-year student enrolled. No more than $3,500 of this amount can be subsidized loans.

  • $6,500 if you're a second-year student enrolled. No more than $4,500 of this amount can be subsidized loans.

  • $7,500 if you're a third or fourth-year student enrolled. No more than $5,500 of this amount can be subsidized loans.

You can check your loan eligibility at: http://www.udel.edu/checkfinaid