Educational Loans

Federal Direct Loans

Student Loans

The William D. Ford Federal Direct Loan Program provides subsidized and/or unsubsidized loans to eligible students to assist with their educational costs. Students are awarded these loans when they file a FAFSA and the student is the borrower. Repayment typically begins 6 months after graduation. These loan funds are provided by the federal government. For more information on interest rates, difference between subsidized and unsubsidized loans and amounts, please visit the Federal Student Aid loan page. Interest Rates.

To Reject your loans, please log in to the UArts Portal and visit the Self Service Financial Aid page. You can reject your loans under the My Awards tab. If you need assistance reviewing loan rates or have questions, please contact Student Financial Services for assistance.

If you have a Federal Direct loan and graduate or leave the university, you must complete Loan Exit Counseling as required by the Department of Education.

Master Promissory Note / Entrance Counseling

Students receiving Direct Loans are required to electronically sign a Master Promissory Note (MPN), the promise to repay the loan, and complete Entrance Counseling in order to receive direct loan funds. Entrance Counseling goes through the student’s rights and responsibilities, important information on the loans terms and repayment. The MPN and Entrance Counseling are done the first year the student borrows and may need to be completed again if the student takes a break from their studies. The MPN and Entrance Counseling can be completed at

Parent Loans

Federal Direct Parent PLUS Loans are federal loans that parents of dependent undergraduate students can use to help pay for college. Undergraduate students cannot borrow a PLUS loan, only their parent is eligible. The student must file a FAFSA and the parent needs to complete a PLUS loan application. If approved, the parent borrower must complete a Master Promissory Note (MPN) and may need to complete loan counseling if required by the Department of Education.

PLUS loan calculator

The PLUS loan calculator helps parents determine the amount they will need to borrow from the Parent PLUS loan to include the origination fee which is subtracted from the borrowed amount prior to disbursement.

To use the calculator, enter the loan amount needed below. The origination fee will be automatically calculated based on the current rate (4.228% as of 2021-2022).

webform reference

To calculate the amount to borrow, add the loan amount needed to the origination fee.

If a parent of a dependent student applies for the PLUS loan and is denied, the student may be eligible for additional Federal Direct Unsubsidized loan funds. For additional information on the PLUS loan program, interest rates, or to apply visit

Perkins Loans

The Federal Perkins Loan Program was a University-based loan program for undergraduate students with exceptional financial need. Note: The Perkins Loan program ended Sept. 30, 2017.

If you have an existing Perkins Loan in repayment with UArts, contact Student Financial Services for assistance and information on repayment.

Private Loans

Private education loans are privately funded loans which may be used to supplement students’ federal and University-based aid. When combined with all other forms of aid, private loans may not exceed the University’s cost of attendance. Approval for these loans is credit-based.

Once you and your family have considered federal loan options, you can use ELMSelect to find & utilize private lenders.

Apply for Student Loan Debt Relief

The Student Loan Debt Relief Application has officially launched!

As part of the presidential administration’s one-time student loan debt relief plan, you can now apply for relief of up to $20,000.

Apply today

Filling out the application is easy and takes about five minutes. You don’t need to log in or provide any documents. The application is available in English and Spanish and works on both desktop and mobile.

To find more information about eligibility, visit the student loan debt relief page

Beware of Scams

You might be contacted by a company saying they will help you get loan discharge, forgiveness, cancellation or debt relief for a fee. You never have to pay for help with your federal student aid. Make sure you work only with the U.S. Department of Education and its  loan servicers, and never reveal your personal information or account password to anyone.

U.S. Department of Education emails to borrowers come from, or You can report scam attempts to the Federal Trade Commission by calling 1-877-382-4357 or by visiting