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    Direct Federal Student Loan Eligibility and Criteria

    Federal Direct Loan eligibility is calculated using the Federal Formula Cost of Attendance minus EFC (Estimated Family Contribution from the FAFSA form) equals need. Then we subtract out all Federal Grants, State Grants and institutional Aid; if there is a positive need you may qualify for a Direct Subsidized student loan. Subsidized student loan amounts are set by the Federal Government and the interest rates for these loans are set by July 1st of each award year. All students who are eligible for a subsidized student loan will also be eligible for an unsubsidized student loan amount. Please go to for a student loan eligibility chart.

    Students with no financial need qualify for Federal direct unsubsidized loans.

    Student Loan eligibility is determined by enrollment status meaning students can receive awards for full time but no less than part time within a semester.

    Student Loans will be disbursed directly to the students account via an electronic disbursement process. Disbursements will be made following the completion of the add/drop period is completed at the beginning of each semester.

    Students must maintain Satisfactory Academic Progress as outlined on our website at and file a FAFSA form each year by April 15th and remain eligible based on their EFC.

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    One Castle Point on Hudson, Hoboken, NJ 07030