Student Financial Services
Student Loan Information
Federal Direct Student Loans
STUDENTS MUST BE ENROLLED IN AT LEAST 6 CREDIT HOURS TO BE ELIGIBLE TO RECEIVE FEDERAL STUDENT LOANS.
Student loan programs provide long-term, low interest loans to students. To be considered for loans at UNA, complete the FAFSA. Students at UNA can be awarded subsidized or unsubsidized Stafford loans, depending on the student's demonstrated need and cost of attendance. View the US Department of Education's brochure on Direct Student Loans here.
Subsidized Stafford Loans
Federal Stafford Subsidized Loans are based on financial need as well as annual and aggregate loan limits. Interest on this loan does not accrue during eligible periods of enrollment and stated grace periods. The interest rate is variable not to exceed 8.25%. Both interest accrual and repayment begins six months after graduation or when a student is no longer enrolled at least half time (6 semester hours). For Stafford loans with a first disbursement date on or after July 1, 2012, the interest rate is 3.4%. Effective with loans disbursed on or after July 1, 2012, graduate students are no longer eligible for subsidized Stafford loans.
Unsubsidized Stafford Loans
Annual Loan Limits (combined maximum for subsidized and unsubsidized) under the Stafford Loan Programs effective July 1, 2008:
- Dependent Undergraduate students
- Freshmen - $5500
- Sophomores - $6500
- Juniors and Seniors - $7500
The aggregate limit is $31,500 (no more than $23,000 may be in subsidized loans)
- Independent Undergraduate students
- Freshmen - $9500
- Sophomores - $10,500
- Juniors and Seniors - $12,500
The aggregate limit is $57,500 (no more than $23,000 may be in subsidized loans).
- Graduate Students
- $20,500 annually, limited to cost of attendance (no more than $8500 of this amount may be in subsidized loans for loans with a first disbursement date before 7/1/12). As required by the Budget Control Act of 2011, EFFECTIVE WITH LOANS WITH A FIRST DISBURSEMENT DATE ON OR AFTER JULY 1, 2012, Graduate Students are eligible for UNSUBSIDIZED LOANS ONLY.
The aggregate limit for graduate students is $138,500 (no more than $65,500 of this amount may be in subsidized loans).
Accepting Your Student Loan Awards
STEP 1: Read and Accept Terms and Conditions. You MUST read, understand and accept the Terms and Conditions Governing Financial Aid Awards.
To do this, access your UNA Portal account, click Self-Service, select Financial Aid, then click Award and select the current aid year. Select the Terms and Conditions tab and click the link to read the actual terms and conditions. When you have finished, click "Accept." If you have any questions regarding any of the listed terms and conditions, please contact our office before accepting them. You cannot move on to complete the rest of the steps on this page until you have accepted the Terms and Conditions.
STEP 2: Accept Loan(s) in UNA Portal Financial Aid Self-Service.
To accept, reduce, or decline your financial aid, access your UNA PORTAL account and click Self Service, then Financial Aid and choose Award. Select Award for Aid Year and the the current aid year. Click on the Accept Award Offer tab.
STEP 3: Complete Entrance Counseling. Students borrowing Direct Stafford Loans for the first time must complete an online entrance counseling sessions. Students who have completed entrance counseling previously do not need to repeat entrance counseling. Click here to complete entrance counseling. UNA will receive electronic confirmation from the US Department of Education when you have successfully completed the counseling.
STEP 4: Complete a Master Promissory Note (MPN). Click here to view and complete the MPN online.
If you are unable to complete your MPN online, paper MPN(s) can be generated. Contact us to have paper copies of your MPN mailed to you.