When taking out a student loan, you should only borrow an amount that you absolutely need to keep your loan indebtedness as low as possible. Remember you have to repay these funds with interest at a later time and will want to have a modest loan repayment amount when that time comes.
If you decide to take out a loan, make sure you understand who is making the loan, as well as the terms and conditions of the loan. Although Marshall University does not provide the funding source for these loans, the Marshall University Office of Student Financial Assistance has the responsibility for certifying your eligibility for these loans.
Loans made by the federal government, called federal student loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources.
Students and families should receive trustworthy, reliable guidance from institutions about financial aid, including educational loans. Marshall University enforces a Student Loan Code of Conduct as a framework to provide the best possible loan terms for students and to avoid conflicts or the appearance of conflicts of interest.
Inceptia – Return to Repayment Outreach
You’re not alone when it comes to understanding student loan repayment. Marshall University has partnered with Inceptia, a division of National Student Loan Program (NSLP), to provide you with FREE assistance on your Federal student loan obligations to ensure a successful, and comfortable, entry or return to loan repayment. Inceptia’s friendly customer representatives may reach out to you to find out if you have any questions about your repayment plan.
Inceptia is not a collection agency. We’ve partnered with them to help you understand your repayment amount and deadlines as well as explore possibilities such as alternative repayment plans, deferment, consolidation, discharge, forgiveness, and forbearance options as necessary.
For additional resources including information on repayment options, please visit Inceptia’s Federal Student Loan Overview website at Inceptia.org/FAQ. You can also view the Guide to Repaying Your Loans.
Direct Loans
To apply for a federal student loan, you must complete the Free Application for Federal Student Aid (FAFSA). All first-time borrowers must complete the Master Promissory Note (MPN) and Entrance Counseling at www.studentaid.gov.
Direct Subsidized Loan
The Direct Subsidized Loan is awarded on the basis of need. You will not be charged any interest while you are in school (at least half-time) or in a grace or deferment status.
Direct Unsubsidized Loan
The Direct Unsubsidized Loan is not awarded on the basis of need. The borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues through the life of the loan.
Federal Direct Student Loan Limits
The federal government sets limits on the amount of money a student can borrow under the Federal Direct Loan program. Marshall University awards students that have filed the FAFSA the maximum amount eligible under such limits. The annual limit applies to the maximum a student can borrow in one academic year, while the aggregate limit applies to the maximum a student can borrow in a lifetime. Independent students and dependent students whose parents are unable to borrow a PLUS Loan are eligible for additional Federal Direct unsubsidized loan. Depending upon your grade level, the type and amount of aid will vary. The chart below lists the amounts and types of aid you would be eligible for.
| ANNUAL LIMITS FOR DIRECT LOANS | SUBSIDIZED | TOTAL (Subsidized & Unsubsidized) |
| Dependent – Undergraduate Students | ||
| First Year (0 to 29 credits) | $3,500 | $5,500 |
| Second Year (30 to 59 credits) | $4,500 | $6,500 |
| Third Year & Beyond (60+ credits) | $5,500 | $7,500 |
| Independent – Undergraduate Students | ||
| First Year (0 to 29 credits) | $3,500 | $9,500 |
| Second Year (30 to 59 credits) | $4,500 | $10,500 |
| Third Year & Beyond (60+ credits) | $5,500 | $12,500 |
| Graduate & Professional Studies | N/A | $20,500 |
| Medical & Psy. D. Students | N/A | $37,167 |
| AGGREGATE LIMITS FOR DIRECT LOAN | SUBSIDIZED | TOTAL (Subsidized & Unsubsidized) |
| Dependent – Undergraduates | $23,000 | $31,000 |
| Independent – Undergraduates | $23,000 | $57,500 |
| Graduate & Professional Students | N/A | $138,500 |
| Medical & Psy. D. Students | N/A | $224,000 |
Note: Student whose parents are denied a Parent PLUS are eligible for the independent loan limits.
Federal Direct Loan Interest
The following tables provide the fixed interest rates and origination fees for new Direct Loans. These rates will apply to new Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans made during this time.
| Undergraduate | 2024 – 2025 Aid Year (07/01/2024 – 06/30/2025) |
| Direct Subsidized Loan | 6.53% |
| Direct Unsubsidized Loan | 6.53% |
| Direct Parent PLUS Loan | 9.08% |
| Graduate or Professional | 2024 – 2025 Aid Year (07/01/2024 – 06/30/2025) |
| Direct Unsubsidized Loan | 8.08% |
| Direct Graduate PLUS Loan | 9.08% |
| Federal Loan Type | First Disbursement Date: (10/01/2023 – 09/30/2024) |
| Direct Subsidized Loan | 1.057% |
| Direct Unsubsidized Loan | 1.057% |
| Direct Parent PLUS Loan | 4.228% |
| Direct Graduate PLUS Loan | 4.228% |
Loan fees are subtracted from your loan prior to the funds being paid to the university. This means a lesser amount is what is actually disbursed to your university bill.
Direct Parent PLUS Loan
Direct Parent PLUS Loans are available to credit-worthy parents of dependent students who enroll at least half-time (six credit hours per semester) and are meeting Satisfactory Academic Progress (SAP). If your parent applies for the Parent PLUS Loan, the loan will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guarantee agencies, lenders, and schools that are authorized users of the data system.
- Available to the parent of a dependent-age undergraduate student enrolled at least half-time (6 units).
- A credit check is required.
- Please note: If you have your account on a credit freeze, please contact Transunion and Equifax to lift the hold for two weeks before you apply.
- The student must complete a FAFSA each academic year.
- Must reapply for the Plus loan for any future academic years.
- Create or Locate your FSA ID Username or Password
- Choose: Parent PLUS application.
- Complete the application and proceed to decision results
Read the results page carefully for the next steps.
If approved, complete the Master Promissory Note and Entrance Counseling. The credit decision is only valid for 6 months after the date of the application. If you would like to increase the loan after the 6 months, you must reapply.
If denied, the applicant must decide how to move forward. If a dependent student would like to request the additional unsubsidized loan and the parent selected options 1,2, or 4, the parent must submit a signed statement to the financial aid office indicating they will not pursue an Endorser or Appeal the credit decision.
- I want to obtain an endorser.
- This option requires the applicant to find a credit-worthy cosigner to complete an Electronic Endorser Addendum. The endorser will determine the amount of the loan. Only the endorser can increase the loan amount by completing a new addendum within the 6 months the credit decision is still active.
- Applicant must complete PLUS Credit Counseling
- Applicant must complete a Master Promissory Note (MPN)
- After all steps are completed, the student or applicant must notify the financial aid office that the requirements have been met to proceed with processing the loan.
- I want to provide documentation of extenuating circumstances.
- This option requires the applicant to Appeal Credit Decision
- If approved the applicant must complete Plus Credit Counseling
- The applicant must complete a Master Promissory Note (MPN)
- After all steps are completed, the student or applicant must notify the financial aid office that the requirements have been met to proceed with processing the loan.
- I do not want to pursue a Direct Plus Loan at this time.
- An undergraduate dependent student may be eligible for an additional $4,000 of Federal Direct Unsubsidized Loan. To request the additional loan, the student must notify the financial aid office via their Marshall email account. The additional loan will be offered and can be accepted through MYMU.
- Undecided.
- No action is taken.
FAQ’s
- Can both parents apply for a plus loan in the same year? Yes, if the parents would like to split the responsibility of financing, they may apply using separate applications.
Graduate PLUS Loan
The Federal Direct Graduate PLUS (Grad PLUS) loan is an affordable, low interest loan for graduate and professional students. You can borrow up to the total cost of attendance (minus any other financial aid awarded). If you are denied the Graduate PLUS loan due to an adverse credit history, you will not be eligible for any additional Unsubsidized Direct Loan. If you apply for the Graduate PLUS Loan, the loan will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guarantee agencies, lenders, and schools that are authorized users of the data system.
- Available to the graduate student enrolled at least half-time (6 units).
- A credit check is required.
- Please note: If you have your account on a credit freeze, please contact Transunion and Equifax to lift the hold for two weeks before you apply.
- The student must complete a FAFSA each academic year.
- Must reapply for the Plus loan for any future academic years.
- Create or Locate your FSA ID Username or Password
- Choose: Graduate PLUS application.
- Complete the application and proceed to decision results
Read the results page carefully for the next steps.
If approved, complete the Master Promissory Note and Entrance Counseling. The credit decision is only valid for 6 months after the date of the application. If you would like to increase the loan after the 6 months, you must reapply.
If denied, the applicant must decide how to move forward.
- I want to obtain an endorser.
- This option requires the applicant to find a credit-worthy cosigner to complete an Electronic Endorser Addendum. The endorser will determine the amount of the loan. Only the endorser can increase the loan amount by completing a new addendum within the 6 months the credit decision is still active.
- Applicant must complete PLUS Credit Counseling
- Applicant must complete a Master Promissory Note (MPN)
- After all steps are completed, the student or applicant must notify the financial aid office that the requirements have been met to proceed with processing the loan.
- I want to provide documentation of extenuating circumstances.
- This option requires the applicant to Appeal Credit Decision
- If approved the applicant must complete Plus Credit Counseling
- The applicant must complete a Master Promissory Note (MPN)
- After all steps are completed, the student or applicant must notify the financial aid office that the requirements have been met to proceed with processing the loan.
- I do not want to pursue a Direct Plus Loan at this time. You are not eligible for any other federal aid.
Learn more about the various student loan programs available to Marshall University students:
Students Withdrawn, Are Graduating or Dropped to Below Half-Time
Exit Counseling
Exit counseling is required for all student federal loan borrowers who have withdrawn, are graduating, or have dropped below half-time status. It will take about 30 minutes to complete. Click here to complete.
