Federal Loan Programs

Students must have a completed a Free Application for Federal Student Aid (FAFSA) on file at UMM to be eligible for federal loans.

Ford Federal Direct Subsidized Loan
The Ford Federal Direct Subsidized Loan is a need-based program, subsidized by federal funds that allows students to borrow money interest-free while in school at least half- time.

Ford Federal Direct Unsubsidized Loan
The Ford Federal Direct Unsubsidized Loan is a non-need-based program. Students will be charged interest on this loan, but have the option to defer the interest while in school at least half-time.

Ford Federal Direct PLUS Loan
Parents of a dependent student may apply for a Ford Federal Direct Parent Loan for Undergraduate Students (PLUS) Loan, a non-need-based program that allows a parent to borrow an amount up to the cost of attendance minus other financial aid awarded.

Federal Perkins Loan
The Federal Perkins Loan is a low interest (5%) need-based program available to students who meet the eligibility requirements.