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Loan Applications

 

 **For Perkins and Nursing / Health Professions Loans you must complete your Master Promissory Note (MPN) each academic year. The MPN can be completed at E-Sign On-Line. You will need your FAFSA PIN to begin this process.

 

Select from the following tabs below to complete your loan application requirements:

Federal Direct

Federal Direct Loans

 Subsidized: A subsidized loan is awarded on the basis of financial need. It is funded by the federal government and administered through colleges and universities. Students receiving these loans are not charged any interest and do not have to begin repaying the loan while they are enrolled in school at least half time, during a grace period, or during authorized periods of deferment. Effective for loans made for periods of enrollment (loan periods) beginning on or after July 1, 2012, graduate and professional students are no longer eligible to receive Direct Subsidized Loans.

 Unsubsidized: With an unsubsidized loan, you will be charged interest from the time the loan is disbursed until it is paid in full. You may choose to pay the interest while you're in school to reduce your final repayment amount.

New student?

As a first-time borrower at Duquesne University, for both subsidized and unsubsidized loans, you must complete the following before the funds will release to your student account:

Direct E-MPN

Direct Entrance Counseling

Both the MPN and Entrance Counseling are completed online through Direct Lending. More information can be found at www.direct.ed.gov or by telephone at 1-800-848-0979 (8 a.m. - 8 p.m. EST, Monday thru Friday)

Graduated?

If you borrowed Stafford loans while attending Duquesne University or you've dropped below at least a half-time enrollment status, you must complete:

An Exit Interview online at the National Student Loan Data System (NSLDS)

Perkins

Perkins Loans

Federal Perkins: A Federal Perkins Loan is a low-interest (5 percent) loan for undergraduate students with financial need.

Interest does not accumulate until repayment begins.

  • Duquesne University is your lender.
  • You must repay this loan to Duquesne University.

 

*You must complete a Perkins Loan Promissory Note each academic year. This can be found online at E-Sign On-Line. You will need your FAFSA PIN to begin this process.

New student: As a first-time borrower at Duquesne University, you must complete the Institutional Entrance Interview online at Financial Counselor.

Graduates: Once you graduate or leave Duquesne University, you must complete an Institutional Exit Interview online at Financial Counselor.

Nursing and Health Professions

Nursing and Health Professions Loans

Selection and repayment identical to Perkins loan except that only full-time; dependent freshman undergraduate Nursing students are eligible for the Nursing Loans and only full-time, dependent undergraduate Pharmacy (not Pre-Pharmacy) students in years 3 thru 5 are eligible for the Health Professions Loan.

*You must complete a Nursing / Health Professions Loan Promissory Note each academic year. This can be found online at E-Sign On-LineYou will need your FAFSA PIN to begin this process.

New student: As a first-time borrower at Duquesne University, you must complete the Institutional Entrance Interview online at Financial Counselor.

Graduates: Once you graduate or leave Duquesne University, you must complete an Institutional Exit Interview online at Financial Counselor.

Parent PLUS

Parent PLUS Loans

A Federal loan available to parents of dependent undergraduate students. A separate application is required and must be applied for through Federal Direct Loans. Maximum is calculated cost of education minus all financial aid.**

**If awarded Federal Work-Study, it will reduce the amount approved by the school in the PLUS loan. It is recommended the student declines the Work-Study award if not working so as to allow the maximum eligibility in the PLUS loan.

Must be credit-approved for eligibility. If parent is denied by lender, student is then eligible for additional Unsubsidized Stafford loan funds:

Freshman and sophomore: Additional $4,000
Junior and senior: Additional $5,000

Note: Student must be enrolled at least half-time and meet all other requirements.

Graduate PLUS

Graduate PLUS Loans

A Federal loan available to Graduate students. A separate application is required and must be applied for through Federal Direct Loans. Maximum is calculated cost of education minus all financial aid.

You must be enrolled at least half-time, credit-approved for eligibility (may use co-signer), and complete the Free Application for Federal Student Aid (FAFSA). Additionally, you are required to first apply for your annual loan maximum eligibility in Stafford loans.

*As a first-time borrower at Duquesne University, you must complete an Entrance interview online at Federal Direct Loans.

Alternative Educational Loans

Alternative Educational Loans

Duquesne University strongly urges students to apply for Stafford loans and parents of students to apply for PLUS loans before resorting to Alternative loans. However, Alternative loans may be an effective method of financing unmet costs of education for some students. The University recommends that students apply with co-signers to secure the best possible interest rates.

Once you have considered scholarships, grants and federal student loans, you can find a private student loan using the Private Student Loan Marketplace. The Marketplace is the only website that presents, side-by-side, the specific loan rates and terms you would see if you applied with each lender directly. You should then pick the private loan that is most appropriate for you and continue on to your chosen lender to complete the loan process.

The Marketplace will pull your credit report in order to instantly simulate the actual terms of loans available to you from local and national lenders - complete with APR, interest rate, total cost, monthly payment, borrower benefits, fees and repayment options. Your credit report will not be harmed by using the Marketplace. Remember that only by completing the lender's application can you be sure to receive the product rate and terms you select in the Marketplace.

**Duquesne University does not endorse any specific financial institution present on the Private Loan Marketplace nor any financial institution that is not represented. Duquesne students are free to choose any financial institution to borrow an alternative educational loan. The financial aid staff will certify a loan from all financial institutions if a student is eligible.

Pennsylvania Private Loan Marketplace

Disclosure Information Regarding Pennsylvania Private Loan Marketplace

Citizens Bank TruFit Student Loan -- Variable and Fixed Rate Disclosures

PNC Alternative Loans - Variable and Fixed Rate Disclosures

iHELP - Variable Rate Disclosure

**All alternative loan applicants must complete a Self-Certification form before the money will be released to the school. This form will be supplied by your lender, or you can download it here:

Self-Certification Form