Educational Loans
When scholarships and grants don’t cover your educational costs, the next step is to look for loans that will “fill the gap.” College is one of the most significant and worthwhile investments of time, effort, and money that you will make during your entire life. Carefully consider your return on investment and research your future career’s median salary before deciding how much money you will borrow. The investment you make now will lead to a marketable degree from a respected university that will equip you to make the world a better place.
In order to accept federal loans students will need to complete Entrance Counseling and the Master Promissory Note. More information is available below.
Direct Subsidized and Unsubsidized Loans are federal student loans offered by the U.S. Department of Education (ED) to help eligible students cover the cost of higher education.
Direct Subsidized Loans are available to undergraduate students with financial need.
The U.S. Department of Education pays the interest on a Direct Subsidized Loan
- while you’re in school at least half-time,
- for the first six months after you leave school (referred to as a grace period), and
- during a period of deferment (a postponement of loan payments).
Direct Unsubsidized Loans are available to undergraduate and graduate students who have completed a FAFSA.
Interest Rates and Loan Fees
| Borrow Type | Loan Type | Fixed Interest Rate | Loan Fee |
|---|---|---|---|
| Undergraduate | Subsidized/Unsubsidized Loans | 6.39%1 | 1.057%2 |
| Graduate/Professional Students | Unsubsidized Loans | 7.94%1 | 1.057%2 |
Yearly* Loan Limits Undergraduate
| Classification | Dependent Students | Independent Students |
|---|---|---|
| Freshman (0-29 units) |
Total: $5,500 |
Total: $9,500 |
| Sophomore (30-59 units) |
Total: $6,500 |
Total: $10,500 |
| Junior (60-89 units) |
Total: $7,500 |
Total: $12,500 |
| Senior (90+ units) |
Total: $7,500 |
Total: $12,500 |
| Undergraduate Cumulative Total |
Total: $31,000 |
Total: $57,500 |
*Yearly is defined as the Fall/ Spring terms.
Yearly Loan Limits Graduate
| Classification | Loan Limits | Notes |
|---|---|---|
| Graduate/Professional Students |
Yearly: $20,500 |
*New Limit set by the Big Beautiful Bill. For more information please click here. |
The Parent PLUS loan can help pay for education expenses not covered by other financial aid.
- Current interest rates: 8.94% (Fixed)
- Loan fee: 4.228%
- The maximum PLUS loan amount a parent can borrow is $20,000 per year per student. With a lifetime limit of $65,000 per student.
To receive a Parent PLUS loan, you must
- be the biological or adoptive parent (or in some cases, the stepparent) of a dependent undergraduate student enrolled at least half-time at an eligible school;
-
not have an adverse credit history (unless you meet certain additional requirements); and
-
meet the general eligibility requirements for federal student aid
To apply for the Parent PLUS Loan, log into www.studentaid.gov
Note: Grandparents (unless they have legally adopted the dependent student) and legal guardians
are not eligible to receive parent PLUS loans, even if they have had primary responsibility
for raising the student.
Yearly and lifetime limits have recently been updated due to the Big Beautiful Bill.
For more information on these changes and grandfather clauses please click here.
The Graduate PLUS Loan program has been discontinued with the passing of the Big Beautiful Bill. For more information on these changes and grandfather clauses please click here.
Private loans can be a great alternative to the loans provided by the federal government and are available to students that do not qualify for federal loans. If a student has good credit or has someone that is willing to cosign on the loan with them, it is possible to receive a private loan with a lower interest rate then a federal student loan. Each lender provides different benefits and terms for their loans; please be sure to read all loan documents and talk with your lender if you have any questions about their loans before applying.
We work with many lenders that send the funds electronically to your student account.
You can view those lenders via our private lender portal: Elm Select
Entrance Counseling (EC)
A mandatory online session that educates first-time federal student loan borrowers
about their loan responsibilities
To complete your Entrance Counseling please follow the instructions below:
- Please visit www.studentaid.gov
- Go to “Loans and Grants” section
- Select “Loan entrance counseling”
- Select your student status to begin
- Please log in using your FSA ID.
Master Promissory Note (MPN)
A legally binding document in which you agree to repay your federal student loans,
along with any accrued interest and fees.
Please ensure that you are submitting the correct type of Master Promissory Note.
- Please visit www.studentaid.gov
- Go to “Loans and Grants” section
- Select “Master Promissory Note (MPN)”
- Select the correct student status
- Please log in using your FSA ID
Parent PLUS Loan
Parent PLUS Loan will also require a Master Promissory Note and may require PLUS Loan Credit Counseling if a endorser was used.
CBU has partnered with Student Connections to provide you with additional support regarding your loans. Talk to a Borrower Advocate for free at (866) 311-9450. They’re available to answer questions about your outstanding loans and will work directly with you and your loan servicer when needed - Monday through Friday, 9 a.m. to 6 p.m. ET
Worried about Affording Your Monthly Payments?
The Borrower Advocates at Student Connections can help answer any questions you have and determine what steps you need to take. This service is completely free to you!
IDR Applications Are Available Again
On March 26, 2025, the U.S. Department of Education (ED) reopened the online income-driven
repayment (IDR) and loan consolidation applications at StudentAid.gov/idr. This comes after a temporary pause triggered by a court injunction that impacted
the SAVE Plan and other IDR programs.
Borrowers may now apply for the following repayment options:
- Income-Based Repayment (IBR)
- Pay As You Earn (PAYE)
- Income-Contingent Repayment (ICR)
Loan consolidation applications are also available through the updated online form.
According to ED, the loan servicers are still updating their systems and will begin processing the applications in the near future.
Avoid Student Loan Debt Relief Scams
Federal Student Aid (FSA) continues to warn borrowers about student loan scams. With so many recent efforts to create new programs that provide debt relief, even savvy borrowers might find it hard to tell the difference between a scam and legitimate forgiveness and relief efforts.
Beware of any source that is not directing you to FSA or your loan servicer.
Loan Repayment Updates
The recently passed Big Beautiful Bill is changing many aspects of loan repayment. For more information on these changes please click here.
| What is the difference between a Subsidized Stafford and an Unsubsidized Stafford
loan? The federal government pays the interest on a subsidized loan for you while you are in school. However, the interest on an unsubsidized loan will accrue while you are in school. |
|
What do I need to do to get my subsidized and/or unsubsidized loan?
|
| Do I have to pay the interest on an Unsubsidized Stafford loan while I am in school? No, you do not have to pay any interest while you are in school. However, you may choose to make payments in an effort to keep the interest down. When you leave school, the accrued interest on the unsubsidized loans will be capitalized (added to the principal). |
|
What is a loan fee? Example: Subsidized $5,500 loan for the 2026-27 school year: Fall Disbursement $2,750 - 1.057% = $2,721 Spring Disbursement $2,750 - 1.057% = $2,721 Total Received = $5,442 |
| I need to update a loan that I already accepted, how do I do that? You can fill out a loan change form on our Student Forms portal. Go to 'Manage Requests' and request the relevant action and aid year. |
| Why didn’t I receive a Direct Subsidized Loan? Your eligibility for a Direct Subsidized Loan is determined by the results of the FAFSA, Cost of Attendance and any additional aid you receive. |
|
When do I start repaying my loans?
|
| Can I combine my federal loans or change repayment plans? Yes. You can consolidate federal loans into one payment through the Direct Consolidation Loan program. You can also choose from several repayment plans—Standard, Graduated, Income-Driven, and more—through your loan servicer. Visit https://studentaid.gov/loan-consolidation/ for more details. |
|
Where can I find my federal loan information? Visit https://studentaid.gov/ and log in with your FSA ID to view your:
|
| Can your office help me with repayment options and answer my question when I go into
repayment? CBU has partnered with Student Connections to provide you with additional support regarding your loans. Talk to a Borrower Advocate for free at (866) 311-9450. They’re available to answer questions about your outstanding loans and will work directly with you and your loan servicer when needed - Monday through Friday, 9 a.m. to 6 p.m. ET |
| For detailed information regarding Federal Student Loans, in addition to the content below, please visit: https://studentaid.gov/understand-aid/types/loans |