Federal Direct Loan Program
To apply for a Direct Loan, students must meet with a Financial Assistance advisor to obtain CSM's Federal Direct Loan Request Form.
The applicant must complete and return the form to the Financial Assistance Department, as well as complete a Loan Entrance Interview and Master Promissory Note. The department will determine the student's eligibility for a loan, and send the application to the federal loan processor.
- Eligible applicants demonstrating sufficient financial need will receive a Subsidized Direct Loan, where the federal government pays the interest on the loan while the borrower is in school.
- Eligible applicants without financial need will receive an Unsubsidized Direct Loan, where the borrower either pays the interest on a regular basis or agrees to let the lender "capitalize" the interest, i.e., add the interest to the loan balance.
Loan funds are sent to the college for delivery to the student. Repayment begins after you graduate or otherwise cease to be at least a half-time student.