Admissions & Aid
The Federal Direct Loan program has several different types of loans available. These are loans issued directly by the U.S. government, not a private lender. Click the links below to learn more about each loan type:
Note: PLUS Loans are available only to a graduate borrower who has already borrowed the annual maximum of the direct unsubsidized loan.
Interest rates for the Federal Direct Loan program are published for the academic year, usually in July, on the Federal Student Aid website.
Yes. Loan origination fees (which are fees for creating the loan) are deducted from all the loan types listed above prior to disbursement of the loan. The loan fee may be different for the type of loan.
In order to qualify for a Federal Direct Loan, a student must first have filed a FAFSA for the current academic year. All processes related to the FAFSA must complete before a loan can be disbursed.
To be eligible, a student must:
Entrance counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You’ll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default.
The Annual Student Loan Acknowledgment is an additional component of the loan process that should be completed once each academic year that a student borrows. The purpose is to guide you in understanding the implications of initial and continued borrowing before you request a Federal Direct Loan.
A Master Promissory Note (MPN) is the contract that a borrower (in this case the student and/or parent) has with a lender (in this case the U.S. Government) that states the terms of the loan and that the loan must be repaid. You should carefully read the master promissory note before you sign it.
A student must sign an electronic MPN for the subsidized or unsubsidized loan before the loan can be disbursed. Once a student has signed an MPN, it is valid for 10 years from the date it was signed and can be used for loans in future academic years that are within the 10-year period.
A parent must sign an electronic PLUS loan Master Promissory Note if he or she is borrowing a parent PLUS loan.
Federal Direct Loan requests are submitted using our online electronic Dynamic Form.
The Brooklyn College loan processing unit will review your request for completeness and to determine if you meet all of the eligibility criteria. If you do, then a loan will be posted to CUNYfirst. If additional steps are needed, you will be notified by e-mail to address them before the loan will be posted.
After the loan has been posted to CUNYfirst, it is then originated (created) within the Federal Aid origination system. The origination, entrance counseling, Annual Student Aid Acknowledgment, and MPN must be confirmed within CUNYfirst before the loan can disburse to your CUNYfirst account.
Federal Direct Loans follow the same refund procedures as other types of financial aid. You can learn more on the bursar’s refunds webpage.
You can request an increase, decrease, or cancel a not yet disbursed direct loan by using the Federal Direct Loan Status Change Form on the financial aid forms webpage.
If your enrollment drops below six credits your eligibility for disbursement and your loan repayment grace period will be affected. We recommend you speak with a financial aid representative or financial aid advisor before making changes to enrollment that will affect loan eligibility.
Visit the Federal Student Aid Portal Repayment page for information on loan repayment requirements, to access the loan simulator, and to learn about repayment plan options.
To view your Federal Direct Loan borrowing history, log in to the Federal Student Aid Portal.