Federal Direct Loan Programs

1) Be admitted and enrolled at least half time (minimum 3 units/quarter) in an eligible degree program at Pacifica.

2) Complete the Free Application for Federal Student Aid (FAFSA) form each year to determine eligibility for federal financial assistance. Pacifica's School Code is G31268.

3) Be in good standing in order to qualify for federal financial assistance (student may not have federal liens, or be in default on prior student loans, or owe a refund on any federal financial aid program).

4) Be a U.S. Citizen, legal permanent resident of United States or eligible non-citizen; provide proof of compliance with drug conviction regulations and if male, provide proof of compliance with selective service registration.

5) Be making Satisfactory Academic Progress (SAP) toward the completion of degree requirements (See SAP policy for details).

• Low interest loans made to students admitted to an eligible academic program and attending at least half time (minimum 3 units/quarter)
• Fixed interest rate of 6.8% for the life of the loan
• Subject to a 1.0% origination fee, which is deducted from each quarterly disbursement
• The Direct Stafford loans also offer a repayment incentive benefit with a 0.5% up-front interest rate rebate. The rebate is in effect as long as, during repayment, the borrower makes the first 12 monthly payments on time. If timely payments are not made, the rebate amount will be added back to the principle loan amount
• Repayment is deferred while enrolled in school at least half-time and during a six-month post-enrollment grace period
• The maximum repayment period is ten (10) years although there are extended repayment terms available. Consult with the Direct Loan Servicing Center for complete details on the repayment options available
• Early repayment in whole or in part may be made without penalty at any time.
  

• Available to qualifying graduate/professional students to assist with education expenses (tuition, housing, books, travel, and reasonable personal expenses)
• Direct PLUS Loans are not based on income or assets
• Fixed interest rate at 7.9% and interest begins to accrue as the funds are disbursed each quarter
  
• Subject to 4% origination fees, which is deducted from each quarterly disbursement
• Repayment incentive benefits are also available with a 1.5% up-front interest rate rebate. The rebate is in effect as long as the borrower makes the first 12 monthly payments on time. If timely payments are not made, the rebate amount will be added back to the loan amount
• Repayment is deferred while enrolled in school at least half-time and during a six-month post-enrollment grace period
• The maximum repayment period is ten (10) years although there are extended repayment terms available. Consult with the Direct Loan Servicing Center for complete details on the repayment options available
• Early repayment in whole or in part may be made without penalty at any time

1) Be a U.S. Citizen or eligible non-citizen and have a valid Social Security Number.

2) Complete the FAFSA and apply for the maximum amount of Stafford loans for which you are eligible.

3) Meet credit eligibility requirements as determined by the US Department of Education.

4) Complete a Direct Plus Loan Request and an electronic Master Promissory Note (E-MPN) online with the US Department of Education under the Manage My Direct Loan section.

5) Complete online Entrance Counseling requirements online with the US Department of Education under the Manage My Direct Loan section.