Federal Direct Loans
Get all the information you need to determine if you’re eligible for student loans, how much you can borrow, how to apply, and more.
Loan Eligibility Criteria
Students must:
- Be enrolled in at least 6 credit hours in an eligible degree program in required coursework;
- Not be in default on a student loan;
- Be a U.S. citizen or eligible non-citizen;
- Have a High School Diploma or GED/HiSET Certificate;
- Have a valid Social Security number;
- Not owe money back on a federal student grant;
- Be making satisfactory academic progress.
2026–27 Changes to Federal Loans
Significant changes to federal loans were signed into law that will affect students starting on July 1, 2026. The information below reflects the most current guidance available and is subject to change as we receive official guidance from the Department of Education.
Part-Time Enrollment and Loan Eligibility
Beginning with the 2026-2027 academic year, Federal Direct Loans are required to be reduced for students enrolled less than full-time.
Parents of Undergraduate Students
As of July 1, 2026, first-time Parent PLUS Loan borrowers have new annual and aggregate (lifetime) loan limits:
- The new annual limit is $20,000 per year per dependent student.
- The new aggregate (lifetime) loan limit is $65,000 per dependent student.
- These new limits apply to all parents combined per dependent student.
An exception exists to allow Parent PLUS borrowers to borrow under the previous limits—called the “legacy provision.” Qualifications for this exception are as follows:
- Student is enrolled as of June 30, 2026,
- Student or their parent(s) previously borrowed a federal loan for their program of study, and
- Student stays enrolled in the same program of study through the program’s expected length or graduation, whichever occurs first.
Please visit Federal Student Aid for latest update.
This page will be updated as new information or official guidance from the Department of Education becomes available.
Last updated: April 9, 2026
Federal Direct Student Loan Program
Three Rivers College is approved to participate in the Federal Direct Student Loan program which includes Subsidized Student Loans, Unsubsidized Student Loans, and Parent PLUS Loans. Detailed information regarding the program can be found at the Department of Education’s Student Aid website. Completion of the FAFSA is necessary to determine eligibility.
Three Rivers College does not currently participate in private loans. Student loans must be repaid.
Student Loan Process
You will need your FSA ID and password to complete the online requirements. If you have misplaced your FSA ID and/or password, please visit the Federal Student Aid website to retrieve it. Next, complete the steps listed below:
- Complete Undergraduate Entrance Counseling for Three Rivers College. (First-time borrower)
- Complete the Master Promissory Note for Subsidized/Unsubsidized (MPN) for Three Rivers College at www.studentaid.gov. (First-time borrower)
- Submit a completed Student Loan Data Sheet indicating the amount you wish to borrow.
- Review Loan Simulator to estimate your loan payment and balance.
- You can choose to reduce or decline your loan amount by completing a Direct Loan Change Form.
Terms and conditions of Federal Student Loans (Direct and Direct PLUS Loans) are listed on the Master Promissory Note signed by the borrower acepting the loan.
Annual Loan Limits
The amount of loan you may request is based on the number of credit hours you have completed and your dependency status (dependent or independent as determined by the FAFSA). It is recommended that you borrow only what is necessary. Students do not have to request the annual maximum amounts and are encouraged to borrow only what is needed. Students cannot borrow more than the cost of attendance minus any other financial aid received.
| Dependent Student Subsidized & Unsubsidized Combined | Independent Student Subsidized & Unsubsidized Combined | |
|---|---|---|
| Freshman (less than 30 credit hours) | $5,500 ($3,500 Subsidized & $2,000 Unsubsidized) | $9,500 ($3,500 Subsidized & $6,000 Unsubsidized) |
| Sophomore (30 or more credit hours) | $6,500 ($4,500 Subsidized & $2,000 Unsubsidized) | $10,500 ($4,500 Subsidized & $6,000 Unsubsidized) |
Repaying Your Loan
You are required to start repaying your Federal Direct Loan six months after you graduate, leave school or drop below half-time attendance.
Information about your federal education loans is available through the StudentAid.gov. Federal loans, including FFEL and Direct Loans and, PLUS loans, are available through this system. Please note that any private loan will not appear in this database.
If you’ve missed a payment or are having trouble making payments, immediately contact and discuss options with the organization that handles billing and other services for your loan to avoid defaulting on your loan. DO NOT JUST STOP MAKING PAYMENTS! For more information regarding default and delinquent loans visit https://studentaid.gov/manage-loans/default.
If you don’t know who your loan servicer is, call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243.
| Loan Amount | Interest Rate | Repayment Plans | Monthly Payment | Total Loan |
|---|---|---|---|---|
| $3,500 | 6.53% | Standard | $50 | $4,736 |
| $4,500 | 6.53% | Standard | $51 | $6,088 |
| $5,500 | 6.53% | Standard | $60 | $7,441 |
| $6,500 | 6.53% | Standard | $73 | $8,794 |
| $9,500 | 6.53% | Standard | $107 | $12,853 |
| $10,500 | 6.53% | Standard | $118 | $14,395 |
Information for Borrowers
Please review the following information before completing the Student Loan Data Sheet.
Parent PLUS Loan
PLUS loans are federally funded, low-interest loans made available to eligible PARENTS of dependent undergraduate students. A PLUS loan borrower must be creditworthy or must obtain a creditworthy endorser on the loan. The borrower is responsible for paying the interest on the loan from the time the loan is disbursed. PLUS loans are not based on financial need and require no collateral.
PLUS Loan Eligibility Criteria
- Parent of full-time or half-time dependent undergraduate student;
- U.S. citizen or eligible non-citizen;
- No adverse credit history;
- Valid Social Security number;
- Certify that you are not in default on a federal student loan and that you do not owe money back on a federal student grant.
- Complete Parent Plus Application.
Disbursements
Loan Disbursements are not released until attendance verification has been completed.
Note: Students borrowing to assist with living expenses should have other resources available to assist them during the first month of the semester. Loan disbursements begin approximately the 5th-6th week of classes.
Exit Loan Counseling
Federal regulations require all Federal Direct Loan Borrowers to complete Student Loan Exit Counseling.
Exit Loan Counseling should be completed by Federal Direct Loan Borrowers upon leaving the institution. Students who withdraw or drop below half-time status are still required to fulfill the Exit Counseling requirement. Three Rivers College receives electronic notification once you have successfully completed your Exit Counseling Session at www.studentaid.gov. All exit counseling information is maintained through Federal Student Aid system.
Cohort Default Rate
Cohort default rate for Three Rivers College FY22 is 0%.
National default rate is 0%.
Percentage of loan borrowers for FY22 is 11.8%.
It is recommended that a student first borrow a Federal Direct Subsidized or Unsubsidized Student Loan if possible, as PLUS loan interest rates are higher and PLUS loan repayment begins immediately after the first disbursement of the loan.
