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Educational Loans

If you are interested in applying for Federal Direct Loans (U.S. citizens and eligible non-citizens only), you should not wait for an admission decision before applying.

You should file the Free Application for Federal Student Aid (FAFSA)  as soon as possible after October 1 (depending on FAFSA availability) and prior to June 30 for aid for the following academic year.

Federal Changes to Loan Eligibility:

The OBBBA [PDF] was signed into law on July 4, 2025.

The Department of Education released final regulations regarding Federal Student Loan Program changes on May 1, 2026.

This legislation impacts Federal Student Aid programs, including Federal Student Loan repayment plans, Federal Student Loan limits, loan reduction for less-than-full-time enrollment, Federal Parent PLUS Loans, and Federal Graduate PLUS Loans. These changes became effective on July 1, 2026.

For more information, please visit our Upcoming Federal Changes webpage.

Federal Student Loans

Loan Adjustments and Requirements

The Federal student loan funding will be in Offer status in MySlice. Students must log in to MySlice, select the Financial Aid button, click on the relevant aid year, and then select the Accept/Declinetab. Students will then have the option to Accept, Reduce, or Decline the Federal student loan amounts in MySlice.

The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). Once you have accepted your loan amounts in MySlice, you will need to complete the MPN requirements on your MySlice Financial Aid To Do List.

Entrance Counseling ensures you understand the terms and conditions of your loan(s) and your rights and responsibilities. You’ll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default. Once you have accepted your loan amounts in MySlice, you will need to complete the Entrance Counseling requirements on your MySlice Financial Aid To Do List.

If your loan(s) have been disbursed to your Bursar’s account and you would like to reduce the loan amount or decline the loan completely, you must notify the Office of Financial Aid and Scholarship Programs by completing the: Loan Reduction/Cancellation Form

Alternative (Private) Loans

Alternative (private) education loans are offered through banks, credit unions, and states to help bridge the gap between financial aid and the cost of education.

Learn more about selecting a private lender and responsible borrowing.

Federal Direct Subsidized Loan

Direct Subsidized Loans are for undergraduate students to help pay for the cost of their education after high school. The lender is the U.S. Department of Education. Eligibility for Federal Direct Subsidized and Unsubsidized Loans is determined by the information you submit on the Free Application for Federal Student Aid (FAFSA) and according to U.S. Department of Education regulations.

  • Federal Direct Subsidized Loans are based on need.
  • No interest is charged while the student is enrolled at least half-time.
  • The U.S. Government charges a small fee, which will reduce the amount of the loan disbursed to your account.
  • Repayment begins six months after you cease to be enrolled at least half-time.

Loan with first disbursement between 7/1/26 to 6/30/27: 6.52%
Loan with first disbursement between 7/1/25 to 6/30/26: 6.39%
Loan with first disbursement between 7/1/24 to 6/30/25: 6.533%

Loan with first disbursement between 10/1/20 to 6/30/27: 1.057%

No credit check is required for a Federal Subsidized Loan.

You must be enrolled at least half-time*. You must also be enrolled in a program that leads to a degree or certificate awarded by the school. Federal Subsidized Loans are available only to undergraduate students who have financial need as determined by the FAFSA. Students must meet the general eligibility requirements for federal student aid.

*Any student enrolled less-than-full-time will have their federal student loans adjusted for less-than-full-time enrollment. 

First Year (0-29 credits): $3,500
Second Year (30-59 credits): $4,500
Third and Fourth Year (60-90+ credits): $5,500

Any student enrolled less-than-full-time will have their federal student loans adjusted for less-than-full-time enrollment. 

Undergraduate students: $23,000

After you graduate, leave school, or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment. During this period, you'll receive repayment information from your loan servicer, and you'll be notified of your first payment due date. Payments are usually due monthly. Learn more about repaying your loan.

The repayment plans available to you will depend on when you receive your loan. Your loan servicer can help you understand which repayment options are available to you. Generally, you’ll have 10 to 30 years to repay your loan, depending on the repayment plan that you choose. Learn more about your repayment options

  • If you are unable to make your scheduled loan payments, contact your loan servicer immediately. Your loan servicer can help you understand your options for keeping your loan in good standing. For example, you may wish to change your repayment plan to lower your monthly payment or request a deferment or forbearance that allows you to temporarily stop or lower the payments on your loan. Learn more about deferment or forbearance options.
  • Under certain conditions, you may be eligible to have all or part of your loan discharged or forgiven (canceled). Find out about loan cancellation, discharge, or forgiveness.
  • If you have multiple student loans, you may be able to combine them into one loan with a fixed interest rate based on the weighted average of the interest rates of the loans being consolidated. Learn more about loan consolidation.

A loan servicer is a company that the Department of Education assigns to handle the billing and other services on your federal student loan. Your loan servicer will work with you on repayment options (such as income-driven repayment plans and loan consolidation) and will assist you with other tasks related to your federal student loans. Learn more about your loan servicer and the role of a loan servicer.

Federal Direct Unsubsidized Loan

Unsubsidized Direct Loans are for students to help pay for the cost of their education after high school. The lender is the U.S. Department of Education. Eligibility for Unsubsidized Loans is determined by the information you submit on the Free Application for Federal Student Aid (FAFSA) and according to U.S. Department of Education regulations.

  • An unsubsidized Federal Direct Loan is not based on need.
  • Interest is charged while you are enrolled at least half-time.
  • You may choose to defer the interest, but if this option is selected, the interest will be capitalized (added to the principal amount).
  • The U.S. Government charges a small fee, which will reduce the amount of the loan disbursed to your account.

Undergraduate Students:
Loan with first disbursement between 7/1/26 to 6/30/27: 6.52%
Loan with first disbursement between 7/1/25 to 6/30/26: 6.39%
Loan with first disbursement between 7/1/24 to 6/30/25: 6.533%

Graduate/Professional Students:
Loan with first disbursement between 7/1/26 to 6/30/27: 8.07%
Loan with first disbursement between 7/1/25 to 6/30/26: 7.94%
Loan with first disbursement between 7/1/24 to 6/30/25: 8.083%

Loan with first disbursement between 10/1/20 to 6/30/27: 1.057%

No credit check is required for a Federal Unsubsidized Loan.

You must be enrolled at least half-time*. You must also be enrolled in a program that leads to a degree or certificate awarded by the school. Federal Unsubsidized Loans are available to undergraduate, graduate, and professional students. Students are not required to have financial need as determined by the FAFSA. Students must meet the general eligibility requirements for federal student aid.

*Any student enrolled less-than-full-time will have their federal student loans adjusted for less-than-full-time enrollment. 

Any student enrolled less-than-full-time will have their federal student loans adjusted for less-than-full-time enrollment.
 

Dependent Undergraduate Students:

  • First Year (0-29 credits): $5,500
    • (no more than $3,500 can be subsidized)
  • Second Year (30-59 credits): $6,500
    • (no more than $4,500 can be subsidized)
  • Third and Fourth Year (60-90+ credits): $7,500
    • (no more than $5,500 can be subsidized)
Most dependent undergraduate students are eligible to receive up to $2,000 in unsubsidized Federal Direct Loans. Students who do not receive full eligibility for subsidized loans (based on need and student’s academic level) may receive the difference in federal unsubsidized loans.

Independent Undergraduate Students*:

  • First Year (0-29 credits): $9,500
    • (no more than $3,500 can be subsidized)

  • Second Year (30-59 credits): $10,500
    • (no more than $4,500 can be subsidized)

  • Third and Fourth Year (60-90+ credits): $12,500
    • (no more than $5,500 can be subsidized)
    *and dependent students, if your parent is unable to obtain a Direct Parent PLUS Loan due to adverse credit; however, if the student has reached the $65,000 aggregate limit for Parent PLUS Loans, the student is not eligible for additional unsubsidized loans at the independent loan limit.

    Graduate Students:

    • up to $20,500

    Professional Students:

    • up to $20,500*
      OR
    • up to $50,000
      • (only for students beginning a new professional degree program after July 1, 2026 or those not eligible for the legacy provisions)
    *Students are not subject to the new loan limits (for up to three academic years or the remainder of their expected time to credential, whichever is less) if they remain continuously enrolled in the same program of study at the same institution as they were enrolled as of June 30, 2026 and for whom a Direct Loan was made for that program of study prior to July 1, 2026.

     

    The Department of Education has established the definition of professional student as part of the One Big Beautiful Bill Act. More information about the final rule on the professional degree designation can be found on the Federal Student Aid website. 

    Dependent Undergraduate Students:

    • Total Amount: $31,000
      • (not more than $23,000 can be subsidized)
      • (total amount includes all subsidized and unsubsidized loans received for undergraduate study)

    Independent Undergraduate Students*:

    • Total Amount: $57,500
      • (not more than $23,000 can be subsidized)
      • (total amount includes all subsidized and unsubsidized loans received for undergraduate study)
      • (*and dependent students, if your parent is unable to obtain a Direct Parent PLUS Loan due to adverse credit)
      • (*if a dependent student has reached the $65,000 aggregate limit for Parent PLUS Loans, the student is not eligible for additional unsubsidized loans at the independent loan limit)

    Graduate Students (eligible for legacy provisions):

    • Total Amount: $138,500
      • (total amount includes all subsidized and unsubsidized loans received for undergraduate and graduate study)

    Graduate Students (not eligible for legacy provisions):

    • Total Amount: $100,000
      • (total amount includes all subsidized and unsubsidized loans received for graduate study)
      • (for borrowers who are not, and have never been, a professional student)

    Professional Students (eligible for legacy provisions):

    • Total Amount: $138,500
      • (total amount includes all subsidized and unsubsidized loans received for undergraduate and graduate study)

    Professional Students (not eligible for legacy provisions):

    • Total Amount: $200,000
      • (total amount includes all subsidized and unsubsidized loans received for graduate and/or professional study)
    The Department of Education has established the definition of professional student as part of the One Big Beautiful Bill Act. More information about the final rule on the professional degree designation can be found on the Federal Student Aid website. 

    Total Amount*: $257,500

    *Includes the following Direct and FFEL loan types: subsidized loans, unsubsidized loans, and Graduate PLUS Loans (regardless of any amounts paid, forgiven, or discharged). Parent PLUS Loans are excluded from this lifetime maximum. 

    Students who meet the requirements for legacy provisions may not be subject to this new lifetime loan maximum for a limited period.

    After you graduate, leave school, or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment. During this period, you'll receive repayment information from your loan servicer, and you'll be notified of your first payment due date. Payments are usually due monthly. Learn more about repaying your loan.

    The repayment plans available to you will depend on when you receive your loan. Your loan servicer can help you understand which repayment options are available to you. Generally, you’ll have 10 to 30 years to repay your loan, depending on the repayment plan that you choose. Learn more about your repayment options

    • If you are unable to make your scheduled loan payments, contact your loan servicer immediately. Your loan servicer can help you understand your options for keeping your loan in good standing. For example, you may wish to change your repayment plan to lower your monthly payment or request a deferment or forbearance that allows you to temporarily stop or lower the payments on your loan. Learn more about deferment or forbearance options.
    • Under certain conditions, you may be eligible to have all or part of your loan discharged or forgiven (canceled). Find out about loan cancellation, discharge, or forgiveness.
    • If you have multiple student loans, you may be able to combine them into one loan with a fixed interest rate based on the weighted average of the interest rates of the loans being consolidated. Learn more about loan consolidation.

    A loan servicer is a company that the Department of Education assigns to handle the billing and other services on your federal student loan. Your loan servicer will work with you on repayment options (such as income-driven repayment plans and loan consolidation) and will assist you with other tasks related to your federal student loans. Learn more about your loan servicer and the role of a loan servicer.

    Federal Direct Parent PLUS Loan

    Starting July 1, 2026, the Department of Education has placed both annual and aggregate limits for Parent PLUS Loan borrowers

    • For students continuing enrollment at Syracuse University as of July 1, 2026, there is an Interim Exception (legacy provisions) to the new loan limits:
    • Please visit our Federal Changes to Parent PLUS Loans for more information. 

    The Federal Parent PLUS Loan is a type of loan a parent can obtain to help pay for the cost of education for their dependent undergraduate children. A Free Application for Federal Student Aid (FAFSA) must be filed to apply. The loan funds are borrowed from the federal government.

    Parents may apply for a Parent PLUS Loan at any time during the academic year. Parents are encouraged to budget their costs for the entire academic year to determine the Parent PLUS Loan amount needed and then submit an application to cover those costs. Parents must reapply for a Parent PLUS Loan each year their child is an undergraduate student.

    Loan with first disbursement between 7/1/26 to 6/30/27: 9.07%
    Loan with first disbursement between 7/1/25 to 6/30/26: 8.94%
    Loan with first disbursement between 7/1/24 to 6/30/25: 9.083%

    Loan with first disbursement between 10/1/20 to 6/30/27: 4.228%

    A credit check will be performed during the application process. If you have an adverse credit history, you may still receive a Parent PLUS loan through one of these two options:

    1. Obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Parent PLUS loan if you do not repay it. The endorser cannot be the child on whose behalf you are borrowing.
    2. Documenting to the satisfaction of the U.S. Department of Education that there are extenuating circumstances relating to your adverse credit history.

    With either option 1 or option 2, you also must complete credit counseling for parent PLUS loan borrowers. You may also wish to read this article to learn more about what to do if you are denied a PLUS loan based on an adverse credit history.

    Students must be enrolled at least half-time and in a program that leads to a degree or certificate awarded by the school.

    To receive a Parent PLUS loan, you must

    Note: Grandparents (unless they have legally adopted the dependent student) and legal guardians are not eligible to receive Parent PLUS loans, even if they have had primary responsibility for raising the student.

    Annual Parent PLUS Loan Limits:

    • $20,000
      • The maximum amount of all Parent PLUS Loans that you (and all other parents) may borrow on behalf of each dependent student may not exceed $20,000 each academic year. 

    Parents/Students Eligible for Legacy Provisions:

    Aggregate Limit:

    • $65,000
      • The total amount of all Parent PLUS Loans that you (and all other parents) may borrow on behalf of each dependent student may not exceed $65,000 in total for the student's undergraduate study (regardless of any amounts paid, forgiven, or discharged).

    Parents/Students Eligible for Legacy Provisions:

    If you request a deferment, you will not need to make payments while your child is enrolled at least half-time and for an additional six months after your child graduates, leaves school, or drops below half-time enrollment.

    If you do not request a deferment, you will be expected to begin making payments after the loan is fully disbursed (paid out).

    During periods of deferment, interest will accrue on your loan. You may choose to pay the accrued interest or allow the interest to be capitalized (added to your loan principal balance) when you have to start making payments. Your loan servicer will notify you when your first payment is due.

    If any Parent PLUS Loan funding is disbursed on or after July 1, 2026, you’ll have access to the following repayment plans:

    If all your Parent PLUS loans have a first disbursement dated before July 1, 2026 (and you do not borrow additional Parent PLUS Loans on or after July 1, 2026), you’ll have access to the following repayment plans:

    More information about repayment plan eligibility can be found on studentaid.gov

      • If you are unable to make your scheduled loan payments, contact your loan servicer immediately. Your servicer can help you understand your options for keeping your loan in good standing. For example, you may wish to request a deferment or forbearance that allows you to temporarily stop or lower the payments on your loan. Learn more about deferment and forbearance options.
      • Under certain conditions, you may be eligible to have all or part of your loan forgiven (canceled) or discharged. Find out about loan forgiveness, cancellation, and discharge.
      • If you have multiple student loans, you may be able to combine them into one loan with a fixed interest rate based on the weighted average of the interest rates of the loans being consolidated. Learn more about loan consolidation.

      A loan servicer is a company that the Department of Education assigns to handle the billing and other services for your Federal Parent PLUS Loan. Your loan servicer will work with you on repayment options and will assist you with other tasks related to your federal loans. Learn more about your loan servicer and the role of a loan servicer.

      To Apply for a Federal PLUS Loan:

      1. Determine the amount of Parent PLUS Loan that you wish to borrow.
      2. Go to studentaid.gov.
      3. After signing in, select:
        • Apply for "I am the Parent of a Student."
        • On the next page, you will need to log in with your FSA ID
        • Follow steps 1 – 5 to complete the online credit check
          • To transmit your Parent PLUS information to Syracuse University, please enter our school code: 002882 in the "School Information" section.
        • Upon completing step 5, a credit decision will be displayed.
      4. Syracuse University will transmit the final loan approval and disbursement request to the Department of Education.

        To reduce the loan amount or decline the loan completely, students must notify the Office of Financial Aid and Scholarship Programs by completing the Loan Reduction/Cancellation Form.

        Federal Direct Graduate PLUS Loan

          Starting July 1, 2026, the Department of Education has removed the Federal Direct Graduate PLUS Loan for students beginning a new graduate or professional program on or after July 1, 2026.

          • For students continuing enrollment at Syracuse University as of July 1, 2026, there is an Interim Exception (legacy provisions) to the new loan limits:
          • Please visit our Federal Changes to Graduate PLUS Loans for more information. 

          The information on Federal Graduate PLUS Loans is only for students who meet all legacy provisions and are eligible for Federal Graduate PLUS Loans for a limited period.

          The Federal Direct Graduate PLUS Loan is a long-term, fixed-rate loan borrowed by graduate students to bridge the financial gap between their educational cost of attendance and their other financial aid.

          • Students must borrow their maximum eligibility in Federal Direct Loans before they may apply for the Graduate PLUS Loan.
          • Eligibility is calculated by the Cost of Attendance minus all other financial aid the student receives.
          • Students enrolled less-than-full-time will have their Graduate PLUS Loans adjusted for less-than-full-time enrollment.

            Loan with first disbursement between 7/1/26 to 6/30/27: 9.07%
            Loan with first disbursement between 7/1/25 to 6/30/26: 8.94%
            Loan with first disbursement between 7/1/24 to 6/30/25: 9.083%

            Loan with first disbursement between 10/1/20 to 6/30/27: 4.228%

            A credit check will be performed during the application process. If you have an adverse credit history, you may still receive a Graduate PLUS loan through one of these two options:

            1. Obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Graduate PLUS loan if you do not repay it.
            2. Documenting to the satisfaction of the U.S. Department of Education that there are extenuating circumstances relating to your adverse credit history.

            With either option 1 or option 2, you also must complete credit counseling for PLUS loan borrowers. You may also wish to read this article to learn more about what to do if you are denied a PLUS loan based on an adverse credit history.

            To receive a Graduate PLUS loan, you must

            Eligibility is calculated by the Cost of Attendance minus all other financial aid the student receives.

            Students enrolled less-than-full-time will have their Graduate PLUS Loans adjusted for less-than-full-time enrollment.

            None

            Total Amount*: $257,500

            *Includes the following Direct and FFEL loan types: subsidized loans, unsubsidized loans, and Graduate PLUS Loans (regardless of any amounts paid or discharged). Parent PLUS Loans are excluded from this lifetime maximum. 

            Students who meet the requirements for legacy provisions may not be subject to this new lifetime loan maximum for a limited period.

            Payment of principal and interest begins once the loan is fully disbursed. The loan will be placed into deferment for graduate students while you are enrolled at least half-time.

            The repayment plans available to you will depend on a number of factors, including when you receive your loan. Your loan servicer can help you understand which plans you’re eligible for. Generally, you’ll have 10 to 30 years to repay your loan, depending on the repayment plan that you choose. Learn about your repayment options.

            • If you are unable to make your scheduled loan payments, contact your loan servicer immediately. Your servicer can help you understand your options for keeping your loan in good standing. For example, you may wish to request a deferment or forbearance that allows you to temporarily stop or lower the payments on your loan. Learn more about deferment and forbearance options.
            • Under certain conditions, you may be eligible to have all or part of your loan forgiven (canceled) or discharged. Find out about loan forgiveness, cancellation, and discharge.
            • If you have multiple student loans, you may be able to combine them into one loan with a fixed interest rate based on the weighted average of the interest rates of the loans being consolidated. Learn more about loan consolidation.

            A loan servicer is a company that the Department of Education assigns to handle the billing and other services for your Federal Graduate PLUS Loan. Your loan servicer will work with you on repayment options and will assist you with other tasks related to your federal loans. Learn more about your loan servicer and the role of a loan servicer.

            o Apply for a Federal Direct Graduate PLUS Loan:

            1. Determine the amount of Graduate PLUS Loan that you wish to borrow.
            2. Go online to studentaid.gov and click on “Login to Start”
            3. After signing in:
              • Follow steps 1 – 4 to complete the online credit check
                • Be sure to enter Syracuse’s school code: 002882, so that SU receives your PLUS Loan information.
              • Upon completing step 4, a credit decision will be displayed.
              • Complete the Federal Direct Graduate PLUS Loan master promissory note.
              • Complete the Annual Student Loan Acknowledgement.
            4. Syracuse University will transmit the final loan approval and disbursement request to the Department of Education.
            5. For new borrowers, an entrance counseling or loan counseling session must be completed on studentloans.gov.

                To reduce the loan amount or decline the loan completely, students must notify the Office of Financial Aid and Scholarship Programs by completing the: Loan Reduction/Cancellation Form.