Loans | University of Illinois Springfield

Name	Description	Amount	For
Graduate Direct Loans	Loans for graduate students from the US Department of Education	up to $20,500/year. Additional available under the PLUS loan program.	Graduate
Parent PLUS Loans	Loans available for parents of Undergraduate students from the US Department of Education	amount varies	Undergraduate
Private Loans	Private loans for students from banks or lenders	amount varies	First-Year, Undergraduate, Transfer, Graduate
Undergraduate Direct Loans	Federal student loans from the US Department of Education	$5,500- $12,500/year; amount varies by student	Undergraduate

Name

Description

Amount

For

Graduate Direct Loans

Loans for graduate students from the US Department of Education

up to $20,500/year. Additional available under the PLUS loan program.

Graduate

Parent PLUS Loans

Loans available for parents of Undergraduate students from the US Department of Education

amount varies

Undergraduate

Private Loans

Private loans for students from banks or lenders

amount varies

First-Year, Undergraduate, Transfer, Graduate

Undergraduate Direct Loans

Federal student loans from the US Department of Education

$5,500- $12,500/year; amount varies by student

Undergraduate

Repaying Your Loans

Once you graduate, leave school, or fall below half time enrollment, you will need to complete Exit Counseling and have to start repaying your loans.

You are obligated to repay any federal student loans that have not been repaid and are not in deferment or forbearance. On the StudentAid.gov website, you can log in using your StudentAid.gov username and password to:

Complete Exit Counseling
Review information about repayment options
Update your profile with current contact information
Ensure that your loans are in good standing
Access your total federal student loan history
Access your loan servicers

How do I contact the Direct Loan Program?

Student Loan Support Center: The Student Loan Support Center may be reached by phone 1-800-433-3243 or visit the Federal Student Aid Help Center.
StudentAid.gov Account: A StudentAid.gov account is required in order for you to sign your Direct Loan MPN. The account is a username and password that gives you access to Federal Student Aid’s online systems including the Free Application for Federal Student Aid (FAFSA) and can serve as your legal signature for the Direct Loans process. The account can be created here:StudentAid.gov Account.
Master Promissory Note: A Federal Direct Loan MPN is required of all new and current borrowers.
Entrance Counseling: Federal Direct Loan Entrance Counseling is required for all new and returning borrowers.
Direct Loan Account Information: Online account and billing information.

For a complete listing of your school's loan volume, please visit Federal Student Aid

University of Illinois at Springfield (00933300)

Three-year Official Cohort Default Rate Information

A school’s cohort default rate is the percentage of a school’s borrowers who enter repayment on certain Federal Family Education Loans (FFELs) and/or William D. Ford Federal Direct Loans (Direct Loans) during that fiscal year and default (or meet the other specified condition) within the cohort default period.

Cohort FISCAL Year	Borrowers in Default	Borrowers Entering Repayment	Official Default rate
2019	10	993	1%
2018	42	1055	3.9%
2017	57	1031	5.5%

For more information, please visit the FSA Default Management Center