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 University 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.

Federal Direct Stafford Loans

Excelsior participates in the Direct Loan Program. Under the Direct Loan program, eligible students borrow directly from the U.S. Department of Education rather than from third-party lenders. Read more at the link below.

There are two types of Federal Direct Stafford Loans, subsidized and unsubsidized:

Subsidized loans do not accrue interest while you’re in school. This program is offered to students who demonstrate financial need as defined by federal regulations.

Important notes:

  • You begin paying principal 6 months after leaving school
  • To determine your eligibility for the Federal Direct Stafford Loan, complete a FAFSA, your study plan, and course approval
  • You need to be enrolled at least half-time (6 credits of Excelsior courses in a term)
  • If you are enrolled for less than a full academic year your original loan award may be reduced

If you do not qualify for the subsidized loan, you may be eligible to borrow under the Federal Direct Unsubsidized Loan Program. With this program, interest accrues while you’re in school and you begin paying the interest and principal six months after leaving school.

An eligibility determination for the subsidized program must be made prior to applying for the unsubsidized loan.

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 Federal Direct Stafford Loan Program.

Federal Direct PLUS Loans

With the Federal Direct PLUS Loans:

  • 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. See the Direct Lending Interest Rate section below 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 University.

Read the details on the U.S. Department of Education PLUS Loan page.

Repayment Estimator Calculator

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

Exit Counseling Interviews

All students who have received subsidized, unsubsidized or PLUS loan(s) under the Federal 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:

  • Go to studentloans.gov
  • Select “Complete Exit Counseling” from the options listed.
  • Log in to begin the counseling.
  • Select the school(s) you want to notify of counseling and continue until completed.
Students will receive their loans in one disbursement during the trimester. For specific dates, log into MyExcelsior and go to your My Details page to view your disbursement schedule.
Have questions about delaying your loan payments? Learn more here.

More Information

Loan Type Grade Level First disbursed on or after July 1, 2023 and before July 1, 2024
Federal Subsidized Direct Loan Undergraduate 5.50%
Graduate NA
Federal Unsubsidized Direct Loan Undergraduate 5.50%
Graduate 7.05%
Federal PLUS Loans Parent and Grad Student 8.05%

The U.S. Department of Education maintains a page showing interest rates on federal student loans dispersed in previous years.

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
Total Limit
Undergraduate (of which no more than $23,000 can be subsidized) $57,500
Graduate $138,500

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
Total Limit
Undergraduate (of which no more than $23,000 can be subsidized) $31,000

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