Federal Direct Subsidized & Unsubsidized Loans
Before a Federal Direct Loan can be awarded, you must complete a Free Application for Federal Student Aid (FAFSA) form.
Subsidized Loan
You are not responsible for the interest while in school at least half-time and the first 6 months after you leave school.
- Must demonstrate financial need
- Repayment of the loan begins at the end of the six month grace period after leaving school or dropping below half-time.
- Interest is paid by the federal government as long as you are enrolled at least half-time at the university and during your six month grace period.
- Click here to learn more, see interest rates, and origination fees at studentaid.gov.
Unsubsidized Loan
You are responsible for paying the interest during all periods.
- Awarded regardless of demonstrated need
- Interest begins accruing from the date of disbursement
- Unpaid interest while in school is capitalized (added to the principal amount)
- Click here to learn more, see interest rates, and origination fees at studentaid.gov.
Direct Loan Limits for Subsidized & Unsubsidized Loans
Dependent undergraduate students enrolled in a degree-seeking program may borrow per year up to:
- $5,500 as a freshman ($3,500 of which may be subsidized loans)
- $6,500 as a sophomore (at least 30 credit hours earned & $4,500 of which may be subsidized loans)
- $7,500 as a junior or senior (at least 60 credit hours earned & $5,500 of which may be subsidized loans)
- Maximum amount allowed to borrow while in school: $31,000
Independent undergraduate students and dependent students whose parents have been denied access to a Federal Direct PLUS Loan may borrow per year up to:
- $9,500 as a freshman ($3,500 of which may be subsidized loans)
- $10,500 as a sophomore (at least 30 credit hours earned & $4,500 of which may be subsidized loans)
- $12,500 as a junior or senior (at least 60 credit hours earned & $5,500 of which may be subsidized loans)
- Maximum amount allowed to borrow while in school: $57,500
Accepting or Denying Federal Direct Subsidized & Unsubsidized Loans
1) Log into your MyACU homepage, and click “Banner” under “Shortcuts”
2) Under “Main Menu” click on “Student & Financial Aid”
3) Click on Financial Aid
4) Choose the current aid/academic year from the “Award Year” drop-down menu
5) Click on “Award Offer”
6) Scroll down to view Loan Offer
7) From the drop-down menu under “Take Action” you can either select “Accept All”, “Decline All” or choose to “Modify” to accept a partial amount of your loans.
8) Your loans will be displayed by semester. You can take action for each semester’s award as you wish.
9) If you wish to accept a partial amount of your award, choose “Modify” and then enter the amount of loans you’d like to accept.
10) Selecting “Accept”, you agree to borrow the full awarded funds.
11) To complete your adjustments and submit your changes, you must select “Ok’’ and “Submit”
Federal Direct PLUS (Parent) Loans
Before a Federal Direct Loan can be awarded, you must complete a Free Application for Federal Student Aid (FAFSA) form.
Parents of dependent students (who are enrolled at least half time) may apply for a Direct PLUS Loan which is used to supplement other financial aid awarded to a student, such as the Direct Stafford Loan. Parents, not students, are responsible for repaying this loan.
Parents wanting a PLUS Loan for the 23/24 school year should wait until June 1st, 2023 to apply. By then, the 23/24 application window should be open on studentaid.gov.
Federal Perkins Loans
If you are a Federal Perkins Loan recipient through ACU and would like more information regarding your loan, you can view information at the University Accounting Service website. This is the link to the loan servicer being used by ACU. Through this site, you can update your address and phone number, find benefit forms, make payments, and research loan cancellation eligibility.
