- Loan eligibility is determined by the Office of Financial Aid.
- Completed FAFSA is required before student loan eligibility can be determined.
- The Office of Financial Aid will send by mail a Financial Aid Award Letter indicating your loan eligibility.
- Required loan documents will be provided in the Financial Aid Award Letter and must be returned to the Office of Financial Aid for loan processing.
- Online Counseling and Master Promissory Notes are also required for all loan processing.
- To receive Federal Direct Loans you must be enrolled at least half-time and meet the current SBU Satisfactory Academic Progress Policy.
Loans Require Repayment
- Detailed information about repayment of federal loans, including borrower’s rights and responsibilities, is available at StudentAid.ed.gov.
- You have the right to cancel all or a portion of your federal loans. Instructions are stated on your promissory note.
- Loans require Exit Counseling once you graduate or drop below half-time status. Direct Student Loan Exit Counseling and Perkins Exit Counseling.