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 have to start repaying your loans.

Complete Exit Counseling when you drop below half-time enrollment, Graduate, or Leave school
Access your total federal student loan history and loan servicers by logging into the studentaid.gov.
Learn more about the Repayment Plan projections and options through the Student Aid Student Loan Repayment.
To help borrowers across the state of Illinois, the Illinois Student Assistance Commission (ISAC) is hosting free webinars on how federal student loan borrowers can navigate repayment. To learn how you can prepare for repayment, visit the Return to Repayment page.
- For registration details, visit the Webinars page located within the Professional Development Opportunities area at ISAC's website (isac.org). For questions, contact isac.borrowersupport@illinois.gov.
- Join on one of these dates in September to learn about the steps you can take to prepare for repayment, what repayment options are available, and how to stay out of default.
  - Thursday, September 7, 9-10 a.m. (CT)
  - Wednesday, September 13, 12-1 p.m. (CT)
  - Friday, September 22, 10-11 a.m. (CT)

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, https://studentaid.gov/help-center/contact.
Federal Student Aid (FSA) ID: An FSA ID is required in order to sign your Direct Loan MPN. An FSA ID 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. An FSA ID can be created here: https://studentaid.gov/fsa-id/create-account/launch.
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 https://studentaid.gov

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