Federal Loans—Title IV

Title IV is a federal college aid program created by the Higher Education Act of 1965. Under this program, loans are offered primarily on the basis of financial need.

The U.S. government distributes federal loans and administers repayment either directly or through third parties. All charges on your student account for the current semester could be paid through this aid.

Title IV application procedures may seem complex, but the Excelsior College financial aid office can simplify the process for you. Contact the financial aid office at (855) 323-9235 to ensure that you get all the Title IV aid you're eligible for.

Excelsior College participates in the Direct Loan Program, established in 2010. Under the Direct Loan program, eligible students borrow directly from the U.S. Department of Education rather than from third-party lenders.

There are two types of Direct Stafford Loans:

  • Subsidized (interest does not accrue while you're in school)
  • Unsubsidized (interest does accrue while you're in school)

The subsidized program is offered to students who demonstrate financial need as defined by federal regulations. Important points include:

  • The federal government pays the interest on subsidized loans while you are enrolled in school.
  • You begin paying interest and principal six months after leaving school.
  • To determine your eligibility for the Direct Stafford Loan, submit the Free Application for Federal Student Aid form (FAFSA), your study plan and course approval.
  • You need to be enrolled at least half-time (six credits of Excelsior College courses) in a term.
  • If you are enrolled for less than a full academic year your original loan award may be reduced.

Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013

As of July 1, 2013, any new federal subsidized loan borrower will have a limit on the length of time they are eligible for subsidized loans. For more information, please review this PDF. (Students who are not enrolled full-time will have their loan usage prorated based on their enrollment status.)

If you do not qualify for the subsidized loan, you may be eligible to borrow under the Direct Unsubsidized Loan program. Important points include:

  • An eligibility determination for the subsidized program must be made prior to applying for the unsubsidized loan.
  • Interest on unsubsidized Direct Stafford Loans accrues while you are enrolled in college.
  • You begin paying interest and principal six months after leaving school.

All other program rules are the same for both the subsidized and the unsubsidized loans.

Self-supporting/independent students and graduate students can borrow additional amounts under the unsubsidized Direct Stafford Loan Program.

There are two Direct PLUS Loan Program options:

Important points of these two Direct PLUS programs include:

  • Parents and graduate students may borrow up to the cost of education minus any financial aid.
  • Loans are subject to the Department of Education's credit policy and the Office of Financial Aid certification of enrollment and costs.
  • The interest rate is a fixed rate that changes annually. Please see Direct Lending Interest Rate section for current rate.
  • Repayment begins within 60 days of disbursement and may extend for up to 10 years.
  • Deferred repayment may be available for some borrowers.
  • Loans are made jointly payable to the parent/graduate student borrower and Excelsior College.

2015–2016

Loan Type
Grade Level
First Disbursed
July 1, 2015 through June 30, 2016
Subsidized Stafford
Undergraduate
4.29
Graduate
NA
Unsubsidized Stafford
Undergraduate
4.29
Graduate
5.84
PLUS Loans
Parent and Grad Student
6.84

 

Previous Years

Loan Type
Grade Level
First Disbursed
July 1, 2009 through
June 30, 2010
First Disbursed
July 1, 2010 through
June 30, 2011
First Disbursed
July 1, 2011 through
June 30, 2012
First Disbursed
July 1, 2012 through
June 30, 2013
First Disbursed
July 1, 2013 through
June 30, 2014
First Disbursed
July 1, 2014 through
June 30, 2015
Subsidized Stafford
Undergraduate
5.60
4.50
3.40
3.40
3.86
4.66
Graduate
6.80
6.80
6.80
N/A
N/A
N/A
Unsubsidized Stafford
Undergraduate
6.80
6.80
6.80
6.80
3.86
4.66
Graduate
6.80
6.80
6.80
6.80
5.41
6.21
PLUS Loans
Parent and Grad Student
7.90
7.90
7.90
7.90
6.41
7.21

Independent Students
Annual Limits
Subsidized
Unsubsidized
Total Limit
Freshman (under 30 credits)
$3,500
$6,000
$9,500
Sophomore (30-60 credits)
$4,500
$6,000
$10,500
Junior (61-90 credits)
$5,500
$7,000
$12,500
Senior (91+ credits)
$5,500
$7,000
$12,500
Graduate Students
N/A
$20,500
$20,500
Lifetime Limits
Subsidized
Unsubsidized
Total Limit
Undergraduate
$23,000
$34,500
$57,500
Graduate
N/A
$138,500
$138,500
Dependent Students
Annual Limits
Subsidized
Unsubsidized
Total Limit
Freshman (under 30 credits)
$3,500
$2,000
$5,500
Sophomore (30-60 credits)
$4,500
$2,000
$6,500
Junior (61-90 credits)
$5,500
$2,000
$7,500
Senior (91+ credits)
$5,500
$2,000
$7,500

For information regarding repayment options and to calculate your estimated repayment amount, please visit the Repayment Estimator Calculator.


For more information regarding the Federal Direct Subsidized Loan and Direct Unsubsidized Loan program, please view the Loan Disclosure Statement (PDF).


All students who have received subsidized, unsubsidized or PLUS loan(s) under the Direct Loan Program or the FFEL Program are required to complete an Exit Counseling Interview each time they graduate, stop attending, or drop below half-time status.

The Exit session will provide information that will help manage your student loan repayments and will review the following:

  • Lender and Servicer contact information.
  • Loan repayment options.
  • Deferment, forbearance, hardship, disability, discharge and forgiveness benefits.
  • Loan default prevention tools.
  • Repayment start dates.
  • Tax credits and deductions for students in repayment.
  • Repayment incentive programs.

There are two options for completing Exit Counseling; by visiting studentloans.gov or a paper form that can be obtained and returned to The Office of Financial Aid. We strongly encourage all students to complete an Exit Counseling Interview using the studentloans.gov website.

To complete counseling at studentloans.gov:

  1. Log in to studentloans.gov using your Federal Student Aid (FSA) ID.
  2. Select "Complete Counseling" found in the left navigation bar.
  3. Select "Exit Counseling" under "Choose Counseling Type."
  4. Select the school(s) you want to notify of counseling and continue until completed.

Students will receive their loans in two disbursements during the trimester. For specific dates, please log into MyExcelsior and go to your My Details page to view your disbursement schedule.

FATV – Loan Information


If you are seeing a message on the FATV player that says "Application is unable to access your file system" please don't be alarmed. To remove the error message, you can follow the simple instructions below to set your Global Storage Settings for Flash Player to their default values.

Instructions

  1. Navigate to this page at macromedia.com (will open in a new page). 
  2. Set the storage amount to 100K on the "Global Storage Settings" tab.
  3. Check the box for "allow third-party Flash content to store data on your computer".
  4. Check the box for "store common Flash components to reduce download times".
  5. Save the settings by clicking on any other Flash settings tab (i.e. on the left side-bar).
  6. Come back to this page and reload it.

If the problem persists

  1. Navigate to this page at macromedia.com (will open in a new page). 
  2. Set the information access to "always ask".
  3. Save the settings by clicking on any other Flash settings tab (i.e. on the left side-bar).
  4. Come back to this page and reload it.

Speak with an Excelsior College financial aid advisor

+1-855-323-9235

Delaying Loan Payments

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