Dominican College participates in the William D. Ford Direct Loan Program (DL). Eligible students and their parents borrow Subsidized, Unsubsidized and/or Plus loans directly from the U.S. Department of Education (DOE) Loans are also repaid directly to the DOE.
You must complete a FAFSA (Free Application for Federal Student Aid) each year listing Dominican College’ s School code (002713) in order to be awarded a Federal Student Loan. Click here to complete a FAFSA.
The Financial Aid office will review the results of your processed FAFSA and send you an award letter showing your recommended loan amounts. Carefully review your award letter. If you choose to accept a loan recommendation, you must complete a Federal Loan Application including the Loan Entrance Counseling and the Master Promissory Note (MPN). The MPN is a legally binding agreement to repay your loan. Click here to complete a Federal Loan application.
The following kinds of Direct Loans are available:
- Direct Subsidized Loans
Direct Subsidized Loans are awarded on the basis of financial need. No interest is charged while you are enrolled at least half-time, during which your grace period or during deferment periods, Your school will determine if you are eligible for a Direct Subsidized Loan.
- Direct Unsubsidized Loans
Direct Unsubsidized Loans are not based on financial need. Interest is charged during all periods, including while you are in school and during grace deferment periods.
- Direct PLUS Loans
Direct PLUS Loans are for parents of dependent student and for graduate/professional degree students. Interest is charged during all periods. Plus loans help pay for education expenses up to the cost of attendance minus all other financial assistance.
- Direct Consolidation Loans
Direct Consolidation Loans are loans for borrowers who want to combine different eligible federal loans into one direct consolidated loan.
In addition to Direct Loans from the DOE, loans are available through private lenders. For more information about these Alternative Loans, please contact the Business Office at (845) 848-7829.