Federal Loans

Subsidized Direct Loan

This loan is awarded based on financial aid need. Interest is paid by the federal government (subsidized) while the student is enrolled at least half time. Payment of both interest and principal begins 6 months after the student graduates, or drops below half time. The FAFSA is required to apply for this loan. All students awarded an Estimated Subsidized Direct Loan will need to complete a Master Promissory Note (MPN). All students applying for a loan at VUSC will also be required to complete an Entrance Counseling for Direct Loans prior to the receipt of loan funds.

Unsubsidized Direct Loan

A loan available to students who do not qualify, in whole or in part, for a Subsidized Direct Loan. The student is responsible for the interest while enrolled. Repayment may be deferred until 6 months after the student graduates or drops below half-time enrollment. Interest accrues during the time the student is enrolled. The FAFSA must be completed to apply for this loan. All students awarded an Estimated Unsubsidized Direct Loan will need to complete a Master Promissory Note.

Perkins Loan

The Perkins Loan is a low-interest loan available to full-time students demonstrating exceptional financial aid need. A FAFSA must be submitted by the Priority Deadline of March 2nd to be considered for this program. Interest is deferred while the student is enrolled at least half time and repayment begins nine months after graduation or the point at which the student drops below half-time enrollment. The maximum annual loan award will be $2,000. ECSI, Vanguard University’s Perkins vendor, will contact you directly after you have accepted your loan to complete Perkins Entrance Counseling and a Perkins Master Promissory Note.

Parent PLUS Loan

This loan is available to parents of undergraduate students and graduate students to cover educational expenses. Parents may borrow up to the cost of attendance minus financial aid. Interest and repayment can begin while student is enrolled, but it is not required. You are encouraged to check to see if deferment options may be available. The FAFSA is required to apply for the loan and eligibility is based upon the credit of the parent.

Graduate PLUS Loan

The Direct Graduate PLUS Loan is available to graduate students who are enrolled at least half-time (5 units or more). Students can borrow up to cost of attendance minus any financial aid already awarded.