Governors State University participates in the Federal Direct Loan Program where students borrow directly form the federal government. Federal loan programs offer interest rates and more flexible repayment plans than most private loans.
Student loans are not prorated
based on enrollment. However, you must
be enrolled at least half-time status in eligible coursework (recognized in your program curriculum and corresponding Degree Audit) to be eligible for loans. Failure to stay enrolled at least half-time
will cause ineligibility for student loans.
- Federal Direct Subsidized Loan (undergraduates only): is a loan for undergraduate students. Eligibility is determined by your FAFSA results and your undergraduate academic level. The government pays the interest while you are enrolled at least half-time. Loan maximums vary according to academic level and dependency status.
- Federal Direct Unsubsidized Loan: is a loan for undergraduate or graduate/professional students. Eligibility is not based on your FAFSA results, but it is determined by your academic level. The interest on the Direct Unsubsidized Loan accrues from the date of disbursement. Loan maximums vary according to academic level and dependency status.
The federal Stafford Loan programs carry both annual and cumulative (lifetime) limits. The SAR (Student Aid Report) from your FAFSA contains your cumulative borrowing history, and you may also view your entire student loan history online via NSLDS.
| ||Maximum |
Subsidized + Unsubsidized
|Independent Sophomore ||$10,500||$4,500|
Subsidized + Unsubsidized
*The graduate debt limit includes loans received for undergraduate study.
What happens if I reach a lifetime limit?
If you reach a lifetime loan limit, you will no longer be able to receive any more of that type of loan. If you exceed the limit, aid already disbursed will be billed back. You will have to find alternate ways to finance your education. Therefore it is to your advantage to borrow only what you need for educational expenses, and to keep track of your cumulative debt. Our counselors are happy to work with you to find ways to minimize your borrowing.
150% Subsidized Loan Limit
Below are the maximum lengths of time a student can receive Direct Subsidized Loans depending on their academic program. If a student reaches the 150% Subsidized Loan Limit, they are no longer eligible to borrow any additional Direct Subsidized loans. Also, if they continue attending, they will lose the interest subsidy on their previously borrowed loans beginning on the first day of continued enrollment.
|Length of Degree Program||Maximum Eligibility Period|
|2 Years||3 Years|
|4 Years||6 Years|
|5 Years||7.5 Years|
Consolidated Loans representing any underlying Stafford or SLS loans that were paid off by the Consolidation Loan is counted towards the aggregate Stafford Loan limits.