Loan Programs

• Long-term, no interest (zero percent) loan awarded through the Massachusetts Office of Student Financial Assistance to financially eligible Massachusetts residents
• Awards range from $1000 to $4000
• Available to undergraduate students enrolled full-time
• Student must sign promissory note by BSU's deadline, prior to the last day of the semester, or prior to the last day of enrollment, whichever comes first.
• If you borrow a Massachusetts No Interest Loan (NIL) while attending BSU, you must complete exit counseling before you drop below 1/2 time status or graduate. This exit counseling is mandatory. If you are dropping below 1/2 time status, please contact us first so we can instruct you on how to complete this process. If you are graduating and you do not receive any information about NIL Exit counseling well before your graduation, please contact us as soon as possible.

• Long-term federal loan available through the university
• Available to undergraduate students who demonstrate financial need and eligibility
• Student pays an origination fee
• Fixed interest rate, set each year on July 1. Refer to studentaid.gov for current interest rate
• Loan limits based on grade level: $3500, freshmen; $4500, sophomores; $5500,  juniors and seniors 
• Student must complete a Direct Loan master promissory note and Direct Loan Entrance Counseling by BSU's deadline, prior to the last day of the semester, or prior to your last day of enrollment (whichever comes first) in order to receive this loan

• Direct Loan exit counseling is a federal requirement for all students who have borrowed Federal Direct Loans while enrolled at Bridgewater State University. Federal regulations require that loan counseling take place before exiting the college or before enrolling for fewer than 6 credits.   

  You will need your Federal Student Aid user ID in order to complete the online exit counseling. If you need a user ID, you may request one at https://fsaid.ed.gov.

  If you have any questions regarding either the completion of Direct Loan exit counseling or the direct loans you have borrowed while attending Bridgewater State University, you may check InfoBear (for loan amount borrowed), or contact the Financial Aid Office.

• For additional information contact the Financial Aid Office or visit studentaid.gov.

• Program allows all students, regardless of income, to obtain a student loan after  having applied for financial aid
• Student pays the interest during in-school & deferment periods or has it capitalized
• Student pays an origination fee
• Fixed interest rate, set each year on July 1. Refer to Direct Loan Web Site for current interest rate
• Loan limits are based on grade level and are the same as the Subsidized loan, however, dependent undergraduates may borrow up to an additional $2000. Independent undergraduates may borrow up to an additional $6000 for freshmen and sophomores, and up to $7000 for juniors and seniors.  Graduate students may borrow up to a total of $20,500.
• Students who are dependent and whose parents were denied a Federal Ford Direct PLUS Loan may borrow
  • up to $4,000* for each of the freshman and sophomore years
  • up to $5,000* for each of the junior and senior years
• Student must complete a Direct Loan master promissory note and Direct Loan Entrance Counseling by BSU's deadline, prior to the last day of the semester, or prior to your last day of enrollment (whichever comes first) in order to receive this loan

• Direct Loan exit counseling is a federal requirement for all students who have borrowed Federal Direct Loans while enrolled at Bridgewater State University. Federal regulations require that loan counseling take place before exiting the college or before enrolling for fewer than 6 credits.   

  You will need your Federal Student Aid user ID in order to complete the online exit counseling. If you need a user ID, you may request one at https://fsaid.ed.gov.

  If you have any questions regarding either the completion of Direct Loan exit counseling or the direct loans you have borrowed while attending Bridgewater State University, you may check InfoBear (for loan amount borrowed), or contact the Financial Aid Office.

• For additional information contact the Financial Aid Office or visit the Direct Loan web site

1. For Direct Subsidized Loans and Direct Unsubsidized Loans, the initial application requirement is met when the student submits the complete Free Application for Federal Student Aid (FAFSA). Student borrowers must also complete a Direct Loan Master Promissory Note and complete Entrance Counseling.
2. For Direct PLUS Loans, the student must submit the complete Free Application for Federal Student Aid (FAFSA). The parent must submit a Federal Ford Direct PLUS Loan Request Form to the Financial Aid Office, available from the Financial Aid Office or on our website. The parent must also complete a Direct Plus Loan Master Promissory Note.
3. The Financial Aid Office certifies the loan and forwards the information to the direct loan servicer. 
4. The direct loan servicer evaluates the application (credit check, etc., for Plus) for approval.
5. If the loan is not approved, the direct loan servicer will notify the borrower by mail. In the case of a Parent PLUS loan denial the parent may be given the option of reapplying with an endorser, which works much like a co-applicant. If the loan is approved, the direct loan servicer sends a Notice of Loan Approval to the student, indicating the loan amount(s) approved and the dates on which it (they) will be disbursed.
6. Once the funds are received by Bridgewater State University, the Office of Student Accounts notifies the borrower of the arrival of the funds.
7. First-time borrowers for Federal Ford Direct Subsidized and Unsubsidized Loans must complete Direct Loan entrance counseling prior to receiving funds. Loan entrance counseling may be completed online at the student loans website or by making an appointment with a financial aid counselor.
8. Loan funds are applied first to the student's account if there is a balance. If there is no balance, the student receives the whole loan amount for that semester, minus any fees. If a portion of the loan was applied to the student's account, the remainder will be refunded to the student. For Direct PLUS Loans, any funds in excess of the balance due on the bill will be refunded to the parent, unless the parent authorizes the release of these funds to the student on the Federal Ford Direct PLUS Loan Request Form.
9. In order to postpone repayment, students must be matriculated and enrolled at least half time. Students should contact the loan servicer(s) to determine eligibility for a deferment and to obtain deferment forms. The Registrar's Office at Bridgewater State University will certify all qualifying student loan deferments.
10. Upon withdrawing from the college, falling below half-time enrollment status, or graduating, the student must complete loan exit counseling. Loan exit counseling may be completed on line at the  Student Aid website or you can make an appointment with a financial aid counselor.
11. Borrowers are required to notify the college and the lender and/or servicer of any changes in:
    • name
    • telephone number
    • next of kin
    • withdrawal from college
    • transfer to another college
    • obtain/change driver's license
    • address
    • social security number
    • graduation date
    • enrollment (less than half time)

• Dependent students may borrow up to a $31,000 maximum as an undergraduate (not more than $23,000 subsidized)
• Independent students may borrow up to a $57,500 maximum as undergraduates (not more than $23,000 subsidized)
• Graduate students may borrow up to a $138,500 maximum (not more than $65,500 subsidized)

• Available through the university to parents of undergraduate dependent students
• Students are required to file the FAFSA*
• Loan not based on financial need, but rather on the credit worthiness of the applicant
• Loan limit is the cost of education minus any other aid and/or resources received
• Borrower pays origination fee at the time of disbursement.
• Funds received from the federal government typically in two disbursements
• Repayment begins within 60 days of disbursement unless a deferment is requested by the parent borrower
• Fixed interest rate, set every July 1. Refer to Direct Loan Web Site for current interest rate
• Apply only after having exhausted all other student financial aid programs
• To apply, applicant must submit a Direct PLUS Loan application to the Financial Aid Office (available in the Financial Aid Office or on our Web site)
• If approved, a Plus loan Master Promissory Note must be completed by the BSU deadline, prior to the last day of the semester, or prior to the last day of the student's enrollment, whichever comes first
• The parent borrower must decide if any refund from the PLUS Loan is to be returned to the student or the parent and indicate so on the application

Education majors may qualify for forgiveness or cancellation of their Federal loans. If you are unsure of which type(s) of federal loans you have borrowed, visit the Office of Federal Student Aid​ for a list of all of your federal loans. You will need your FAFSA/Department of Education PIN to access this site. View information about specific programs for Education majors.