The Federal Direct Student Loan Program (FDSLP): Is a low interest loan to help you pay for educational expenses. Loans provide borrowed money that must be repaid plus interest. The interest rate is fixed and has been set by the Federal government. Loan eligibility is determined by your year of study, federal limits, financial need, and other types of aid awarded. There are several types of student loans, which may or may not be need-based:
Additional Unsubsidized Loan may be available to students whose parent cannot qualify for Parent Plus Loan or for independent students requesting an additional loan.
The Financial Aid Office will determine your loan eligibility based on the Free Application for Federal Student Aid (FAFSA) each academic year. There are limits on the amount in subsidized and unsubsidized loans that you may be eligible to receive each academic year (annual loan limits) and the total amounts that you may borrow for undergraduate and graduate study (aggregate loan limits).
Depending on your year of study, your eligibility, and whether you are dependent or independent student, the federal government limits the amount you can borrow. Your amount may vary depending on financial need and other types of aid awarded.
Year | Dependent Students (except students whose parents are unable to obtain PLUS Loans) | Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans) |
---|---|---|
First-Year Undergraduate Annual Loan Limit | $5,500—No more than $3,500 of this amount may be in subsidized loans. | $9,500—No more than $3,500 of this amount may be in subsidized loans. |
Second-Year Undergraduate Annual Loan Limit | $6,500—No more than $4,500 of this amount may be in subsidized loans. | $10,500—No more than $4,500 of this amount may be in subsidized loans. |
Third-Year and Beyond Undergraduate Annual Loan Limit | $7,500—No more than $5,500 of this amount may be in subsidized loans. | $12,500—No more than $5,500 of this amount may be in subsidized loans. |
Subsidized and Unsubsidized Aggregate Loan Limit | $31,000—No more than $23,000 of this amount may be in subsidized loans. | $57,500 for undergraduates—No more than $23,000 of this amount may be in subsidized loans. |
A Loan Origination Fee is deducted from the gross amount of the loan you accept. Any balance remaining will be disbursed to the student from CEI Business Office. You can see this fee on your Student Self-Service under the Student Finance Account Activity.
As a first-time loan borrower or a new student at College of Eastern Idaho receiving Federal Direct Loans, you must complete all: Loan Requirements
Please go to Managing My Direct Loans for more details.
John E. Christofferson
Multi-Purpose Building
Room 353
Phone: (208) 524-3000
Fax: (208) 525-7026
financial.aid@cei.edu