Saint Louis University participates in the William D. Ford Direct Loan Program. Direct Loan funds are provided through the U.S. Department of Education.
Direct Unsubsidized Loans are available to students who are or will be enrolled at least half-time at an accredited school. Students must apply for these loans by submitting the Free Application for Federal Student Aid (FAFSA) each year. Saint Louis University’s federal school code is 002506. Once Saint Louis University receives FAFSA information, award letters are sent out to students in March for the upcoming academic year. A student must then confirm the amount of the loan via the mySLU by selecting “Financial Aid Awards” under the student tab.
If a student is a first-time borrower with this loan program, they must also complete a Direct Unsubsidized Loan Master Promissory Note and Entrance Counseling via http://studentloans.gov.
Direct Unsubsidized Loan
Eligibility: U.S. Citizen, eligible non-citizen. Students with an F1 or F2 student visa or a J1 or J2 exchange visitor visa or a G series visa are NOT eligible for federal aid.
Amounts: Up to $20,500 per academic year
Interest Rate: 6.60% fixed
Repayment: 10-25 years, depending on the total amount borrowed. Click here to use the repayment calculator tool to explore the various options.