Loan Programs

Financial Aid Office at EOU
Loans Are Financial Aid That Must Be Repaid

Federal Direct Loan

The Federal Direct Loan has both a need based Subsidized component and a non-need based Unsubsidized component. Direct Subsidized Loans have deferred interest and principal payments through the student’s grace period. Direct Unsubsidized Loans do not have the interest deferment option–interest accrues while the student is in school and during the grace period. Direct Loan interest rates are set by law and may vary from award year to award year. Direct Loan award amounts are based on a student’s class level.  Students who elect to borrow in the Federal Direct Loan program must complete a Master Promissory Note (MPN) and first time borrowers must complete entrance counseling.  To complete your Direct Loan MPN and entrance counseling go to:

Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers on or after July 1, 2013

(NOTE: If you received a Direct Subsidized Loan that was first disbursed between July 1, 2012, and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period.)

Federal Direct Parent Loan for Undergraduate Students (PLUS)

The Federal Direct PLUS Loan is available to parents of undergraduate students. Parents may borrow the difference between the student’s cost of attendance and other financial aid. Parents who want to borrow the PLUS loan must complete an EOU PLUS Loan Acceptance Form and a pre-approval credit check. Once the parent borrower is approved, the parent borrower can complete a PLUS Master Promissory Note (MPN). Generally, repayment begins after the last disbursement for the academic year and interest begins accruing as soon as the school receives the first disbursement. Students who have had a parent denied during the PLUS approval process are eligible to borrow additional funding in the Federal Stafford Loan program. Any credit balances on a students account resulting from receipt of PLUS loan funds will be mailed directly to the parent borrower.

Federal Direct Graduate PLUS

The Federal Graduate PLUS loan is offered to students enrolled in a Graduate or Professional program.  Students who borrow in the Graduate PLUS program must complete a credit check and pre-approval process.  Students who have been approved must then complete a Graduate PLUS Master Promissory Note (MPN).  Students should borrow their full Subsidized and Unsubsidized Stafford Loan annual maximums before applying for the Federal Graduate PLUS loan.  For additional questions on this program please contact the Financial Aid Office or visit:

Federal Direct Loan and PLUS Interest Rates for 2018-19

Loan Type Student Level Loans Disbursed Between July 1, 2018 and June 30, 2019
Subsidized Undergraduate Fixed Interest rate = 5.05%
Unsubsidized Undergraduate Fixed Interest rate = 5.05%
Graduate Fixed Interest rate = 6.60%
PLUS Parent PLUS (Undergraduate) Fixed Interest rate = 7.60%
Graduate PLUS Fixed Interest rate = 7.60%

Federal Direct Loan and PLUS Interest Rates for 2017-18

Loan Type Student Level Loans Disbursed Between July 1, 2017 and June 30, 2018
Subsidized Undergraduate Fixed Interest rate = 4.45%
Unsubsidized Undergraduate Fixed Interest rate = 4.45%
Graduate Fixed Interest rate = 6.00%
PLUS Parent PLUS (Undergraduate) Fixed Interest rate = 7.00%
Graduate PLUS Fixed Interest rate = 7.00%

Private Loan (Non-Federal)

Please click here for more information.

Federal Loan Servicer Information

Please click here for information about the federal loan servicers.

Loan Repayment Options

There are multiple Federal Loan Repayment Options.

US Department of Education Loan Repayment & Forgiveness Presentation

This presentation was created for financial aid administrators; however, it has current information on student loan repayment options and loan forgiveness programs.

Take a few minutes to review this important information

EOU Financial Aid Code of Conduct

Please click on the following link to read the EOU Financial Aid Office Code of Conduct