Loan Programs

We encourage you to explore for valuable information and resources on borrowing federal student and parent loans. You can learn about responsible borrowing, interest rates, loan terms and loan repayment options. Loan repayment charts and online calculators can help you estimate future loan payments so you can plan ahead and borrow wisely.

Sample Student Loan Monthly Payments
Total Student Loans Borrowed Estimated Monthly Payment
Estimates are based on a standard, 10-year repayment plan at an interest rate of 4.29%
Annual Federal Direct Loan Limits
Dependent Undergraduate Students Independent Undergraduate Students + Graduate/Professional Degree Students
Interest Rates* Subsidized & Unsubsidized
Subsidized & Unsubsidized
(0-29 college credits)
(max. $3,500 subsidized)
(max. $3,500 subsidized)
unsubsidized loan only
(30-59 college credits)
(max. $4,500 subsidized)
(max. $4,500 subsidized)
unsubsidized loan only
(60+ college credits)
(max. $5,500 subsidized)
(max. $5,500 subsidized)
unsubsidized loan only
Aggregate Loan Amounts $31,000
(No more than $23,000 may be in subsidized loans)
(No more than $23,000 may be in subsidized loans)
(The graduate debt limit includes Direct Loans recieved for undergraduate study.)
NOTE: Students must be enrolled at least half time to borrow Direct Loans.

+ Includes dependent students whose parents are denied a PLUS loan

* Interest Rates apply to Direct Loans first disbursed on or after July 1, 2020 but before July 1, 2021. Interest rates are set by Congress each year, and updated information on interest rates will be made available each year after the rates are published by the U.S. Department of Education. For prior year interest rate information, please visit or contact the Financial Aid Office.

Direct Loan Entrance Counseling

First time borrowers of Federal Direct Loans must complete entrance counseling for comprehensive information on terms, conditions, rights and responsibilities of borrowing Direct Loans before your loan funds will disburse to your student account.

Master Promissory Note

The promissory note is a binding agreement you sign promising to repay your loans in the future and to accept the terms, conditions, rights and responsibilities of your federal student loans. You must complete the promissory note before your loan funds will disburse to your student account.

Parent PLUS Loan

Parents of dependent undergraduate students without adverse credit may wish to explore federal funds to help pay for educational expenses not covered by other types of student aid.

Private Student Loan Options

We encourage you to maximize all federal and state financial aid options before considering private student loans. Keep in mind that federal loans usually offer borrowers better interest rates, benefits like fixed interest, and more flexible repayment options than loans from private sources. However, you may have unmet costs after all government sources are exhausted and may wish to research private loans.

Direct Loan Exit Counseling

Students graduating, withdrawing or dropping below half-time enrollment must complete exit counseling for comprehensive information on borrower rights and responsibilities, including various repayment options, debt management strategies and consequences of default.

Undergraduate Admissions

Sign up for an individualized campus visit, phone call or virtual visit with an Admissions Counselor to learn more about scholarships, admissions requirements, and more.

Online/Graduate Admissions

Learn more about our module format, payment options, and more during a personalized phone call or online meeting with an Admissions Counselor.

Admitted Students

Congratulations on your admission to Midway University! There are a few more steps you need to take to complete your registration as an Eagle.