Emmanuel students may apply for the Federal Direct Loan, a low-interest student loan from the federal government. The amount you are eligible to borrow appears on your financial aid award letter.
These loans are awarded to students with financial need. A "subsidized" loan means the federal government pays the interest while the student is in school. The maximum amount that may be borrowed is based on dependency status and grade level according to the annual and aggregate loan limits established by Congress. Applicants may receive both types of loan, but the total may not exceed the federal loan limits. Borrowers who have both types of loans may have a single repayment schedule.
This loan is not based on financial need and is available to all eligible students, regardless of income. A FAFSA application is required to apply. The loan is "unsubsidized" because the student is responsible for paying all interest due; there is no federal interest subsidy for the loan. The terms and conditions for Direct Unsubsidized Loans are otherwise the same as for Direct Subsidized Loans.
To complete the application process for a Federal Direct Loan, all first time borrowers at Emmanuel College must complete both the:
You will need your FSA ID (formerly FAFSA PIN) to complete both the Entrance Counseling and MPN. To obtain a FSA ID, please visit fsaid.ed.gov.
To decline the loan(s) or reduce the amount you wish to borrow, please login to Financial Aid via EC Online Services and select the "My Awards" page. Scroll down to the Loans section, then click "Change loan amount".
| Subsidized Loan | Unsubsidized Loan | |
|---|---|---|
| Fixed Interest Rate |
|
|
| Origination Fee (Deducted from the amount of the loan prior to disbursement.) |
|
|
| Maximum Undergraduate Annual Loan Amount | See chart below. | |
| Maximum Undergraduate Aggregate Amount | Dependent students: $31,000-No more than $23,000 of this amount may be in subsidized loans. Independent students: $57,500-No more than $23,000 of this amount may be in subsidized loans. | |
| Repayment | 10 years; begins 6 months after no longer enrolled at least half-time. Minimum monthly repayment of $50 begins six months after graduation or withdrawal from the University. You can monitor the total amount you borrow and the repayment requirements that you will have when you finish your education through studentloans.gov. Sample Direct Loan repayment schedules are available on the U.S. Department of Education Direct Loan website. You can choose from a variety of repayment plans to fit your financial circumstances and modify plans if circumstances change. | |
| Deferment | You can defer your loan under various circumstances, which will postpone your loan payments. For example, while you are enrolled as a half-time student (including graduate school) in a degree granting program or while you are unemployed, you can request loan deferment. Learn more about deferment provisions and repayment options at studentloans.gov and the Direct Loan website. Provisions for loan deferment or cancellation can be found on the loan promissory note and at studentloans.gov. | |
| Interest Charged While Enrolled at Least Half-time in a degree granting program |
|
|
| Servicer | Visit studentaid.ed.gov for information regarding your servicer. | |
| Subsidized Loan | Unsubsidized Loan | |||
|---|---|---|---|---|
| Fixed Interest Rate |
|
|
||
| Origination Fee (Deducted from the amount of the loan prior to disbursement.) |
|
|
||
| Maximum Undergraduate Annual Loan Amount | See chart below. | |||
| Maximum Undergraduate Aggregate Amount | Dependent students: $31,000-No more than $23,000 of this amount may be in subsidized loans. Independent students: $57,500-No more than $23,000 of this amount may be in subsidized loans. | |||
| Repayment | 10 years; begins 6 months after no longer enrolled at least half-time. Minimum monthly repayment of $50 begins six months after graduation or withdrawal from the University. You can monitor the total amount you borrow and the repayment requirements that you will have when you finish your education through studentloans.gov. Sample Direct Loan repayment schedules are available on the U.S. Department of Education Direct Loan website. You can choose from a variety of repayment plans to fit your financial circumstances and modify plans if circumstances change. | |||
| Deferment | You can defer your loan under various circumstances, which will postpone your loan payments. For example, while you are enrolled as a half-time student (including graduate school) in a degree granting program or while you are unemployed, you can request loan deferment. Learn more about deferment provisions and repayment options at studentloans.gov and the Direct Loan website. Provisions for loan deferment or cancellation can be found on the loan promissory note and at studentloans.gov. | |||
| Interest Charged While Enrolled at Least Half-time in a degree granting program |
|
|
||
| Servicer | Visit nslds.ed.gov for information regarding your servicer. | |||
| To learn more, visit | studentaid.ed.gov | |||
| Grade (credits completed) | Dependent Students | Independent Students |
|---|---|---|
| Freshman (0-31 credits) |
|
|
| Sophomore (32-63 credits) |
|
|
| Junior/Senior (64+ credits) |
|
|
Students who are graduating or who will no longer be enrolled at least half-time are required to complete Exit Counseling at studentloans.gov. Information regarding the following may also be found at studentloans.gov:
Loans will be submitted to the National Student Loan Data System and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system. Please visit our detailed Student Loan Repayment page for more information.
Growing up in a suburban town outside of Boston, going to college in the city had always been a goal for Jake. After touring Emmanuel's campus he felt it had the perfect mixture of “small campus feel and big city appeal.”
Michael chose Emmanuel because of its location in Boston and its proximity to the city's "big players," specifically its leading names in the financial industry.
What began as an on-campus job in Emmanuel's student center transformed into a new career path for Jessie, one that brought her to Harvard University as a master's candidate in higher education administration.
Chemistry graduate Jennifer Scarborough '17 has found a way to combine her love for science and education. She shares her enthusiasm for the subjects as an education associate in the Hall of Human Life exhibit at Museum of Science Boston—one of the top science museums in the country (according to National Geographic).
At Emmanuel, management major Juan Sebastian Levy '14 prepared to succeed in an increasingly global society, experience that has taken him to Wayfair's offices in Berlin and back to Reebok's international headquarters in Boston.
As a high school student Benjamin Craig's motto was, "Here's my plate, load it on." He brought that mentality with him to Emmanuel, where he has always been ready to take on a new opportunity.
Kylia visited Emmanuel's Career Center for the first time during her freshman year and made key connections that would eventually lead her to a full-time position in research administration at Harvard University.
One of Jannet Desvira's goals early in her Emmanuel career was to become president of the Business Leaders of Emmanuel Club. She has achieved that and more—and is poised to become a business leader in the real world.
On campus and off, Jaxell Negron is all about building community. As an RA, he creates a strong, safe sense of rapport within his residence hall. Through the on-campus boxing club he co-founded, he gave students a new way to work out and relieve stress.
During her time at Emmanuel, Michelle Church has aimed to be well-rounded-in her academics, in her co-curricular activities and in her approach to finding the right fit for her career aspirations.
Just a few short weeks after graduating in May 2018, Kevin began working to make one of the country's fastest growing tech companies ever bigger.
Greater Boston is home to thriving startups, storied financial firms, major media markets, world-class medical centers, leading universities and game-changing non-profits. How is Boston able to continually attract top talent and incubate innovative organizations?
Emmanuel is a place where students broaden their sense of what’s possible and prepare for inspiring careers in an ever-changing world. Be here.
Questions?
617-735-9715
