Federal Direct Subsidized Student Loans are based on FAFSA results. Individuals borrow directly from the federal government, not a private lender. Annual subsidized loan limits are $3,500 freshman, $4,500 sophomore, $5,500 junior, $5,500 senior. Students receive an award letter indicating the maximum eligibility for this loan.
A Subsidized Direct Loan is awarded based on financial need. The federal government pays the interest on the loan while you are enrolled in college, and no payments are due until you discontinue attending college at least half time.
All students choosing to use the Federal Direct Student Loan Program must successfully complete an Electronic Master Promissory Note and Entrance Counseling session via the federal website: https://studentloans.gov/
Le Moyne participates in electronic funds transfer (EFT) for loan funds. The loan funds will arrive electronically at the college and be credited directly to the student’s account. Federal loan funds are always disbursed in two equal disbursements, and should arrive at the beginning of each semester.