Loans

Several types of loans are available to cover college expenses – both federal and non-federal. Students and/or parents of dependent students may borrow up to the full amount of their Estimated Cost of Attendance (COA) or budget each academic year. Borrowers must complete every step needed for their loans to be disbursed including special “First Time Borrower Requirements” such as Entrance Counseling and Master Promissory Notes. The WVU Financial Aid Office will download the results of your First Time Borrower Requirements within one week of your completion of them. More details are provided in the links below for each type of loan.

Undergraduate (Associate’s or Bachelor’s Level) Students:
Who Applies?	Loan Type (Click a link below for more information)	To Apply:	Entrance Counseling (First Time Borrowers)	Master Promissory Note (First Time Borrowers)
Student	Federal Direct Student 'Stafford' Loans (Subsidized and Unsubsidized)	FAFSA	http://www.dl.ed.gov and select “Stafford Loan” Do not select “Combination – Stafford and PLUS Loans” even if your parent is applying for a PLUS Loan	www.dlenote.ed.gov select “Complete New MPN for Student Loans” then select “Subsidized / Unsubsidized Loans” and use Student FAFSA PIN
Student	Federal Perkins Loan	FAFSA + Need	Not Applicable	www.ecsi.net/prom31 and use Student FAFSA PIN
Parent	Federal Direct PLUS Loan for Parents of Undergraduate Students	FAFSA + Parent PLUS Application	Not Applicable	www.dlenote.ed.gov select “Complete New MPN for Parent PLUS Loans” and use Parent Borrower’s FAFSA PIN
Student	Alternative Loans	Contact Lenders and follow their instructions for application

Graduate Level Students:
Who Applies?	Loan Type (Click the link for more information)	To Apply:	Entrance Counseling (First Time Borrowers)	Master Promissory Note (First Time Borrowers)
Student	Federal Direct Student 'Stafford' Loans (Subsidized and Unsubsidized)	FAFSA	http://www.dl.ed.gov and select “Stafford Loan or “Combination – Stafford and PLUS Loans” if you have both types of loans”	www.dlenote.ed.gov select “Complete New MPN for Student Loans” then select “Subsidized / Unsubsidized Loans” and use Student FAFSA PIN
Student	Federal Direct PLUS Loan for Graduate Level Students	FAFSA + Grad PLUS Application	http://www.dl.ed.gov and select “PLUS Loan” or “Combination – Stafford and PLUS Loans” if you have both types of loans	www.dlenote.ed.gov select “Complete New MPN for Student Loans” then select “Graduate PLUS Loan” and use Student FAFSA PIN
Student	Alternative Loans	Contact Lenders and follow their instructions for application