Federal and Private Loans

All students applying for a Federal Direct Loan must complete the FAFSA. Students should complete and file the FAFSA as soon as possible after October 1 of each year. New borrowers must complete an electronic master promissory note (MPN) and an entrance counseling session at studentaid.gov to have the loan funds credited to their account. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). You can borrow additional Direct Loans on a single MPN for up to 10 years. During the entrance counseling session, you will cover the terms of the loan as well as your rights and responsibilities when borrowing from the Federal Direct Loan programs. The FAFSA must be completed every academic year for which a student is seeking a federal student loan. For details about summer loans, please view our summer loans information.

The University will use the federal formula to determine your eligibility to participate in the Federal Direct Loan program. Components of this formula include your student aid index (SAI) as calculated by the federal government, your housing plans, as well as your expected enrollment status. For continuing students we will use the student’s prior semester enrollment status, not including summer, to determine eligibility. We will assume that your enrollment status (full-time 12 credits or more, 3/4 time 9-11 credits, 1/2 time 6-8 credits) will be the same for both the fall and spring semesters. For new students, to determine your loan eligibility, we will use the information that was provided by the student to the Office of University Admissions at the time of application to the University.

Maximum loan eligibility is based upon a student’s grade level as well as the federal dependency status as determined on your FAFSA.

Dependent Students

Independent Students

Graduate Students

To review the annual loan limits and the aggregate loan limits please refer to the Federal Student Aid website.

New Interest rates for loans first disbursed between July 1, 2024 and July 1, 2025:

All interest rates are fixed throughout the life of the loan.

The Repayment of these loans begins six months after the student ceases to be enrolled at least halftime (6 credits). The amount of your monthly repayment is calculated based upon the total amount that you have borrowed, as well as the repayment plan that you choose. Visit the Repayment Plan options and Consolidation page at studentaid.gov to learn about repayment plans.

Upon receipt of the processed FAFSA, the University will determine your eligibility to participate in all federal, state, and institutional financial assistance programs. A Financial Assistance Plan will then be sent to each student, approximately four–six weeks after you submit your FAFSA.

To cancel your Federal Direct Loan/s for the academic year, you must log into your eCampus account. Select CLASS, then click on “My Financial Aid”, select the correct corresponding year, then “Loans”. This online selection may only be completed once, so take your time to make your selection(s). If you wish to reduce your loan to a specific amount, you may do so by completing the appropriate form in our office.

Applicants may borrow up to the cost of attendance less other financial aid, including awarded direct loan amounts. Graduate PLUS loan applications are available at Plus loan application at studentaid.gov. All applicants must complete a graduate PLUS master promissory note (MPN), as well as graduate PLUS entrance counseling using their Federal Student Aid ID (FSA ID) at studentaid.gov. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). You can borrow additional Direct Loans on a single MPN for up to 10 years. During the entrance counseling session, you will cover the terms of the loan as well as your rights and responsibilities when borrowing from the Federal Direct Loan programs. Because credit checks expire after 180 days, it is recommended that applicants do not complete their PLUS application until their eligibility for this loan has been determined by the Office of Student Financial Services.

Upon applying for the Federal Direct Graduate Plus students can indicate the specific loan period. A specific loan amount may also be requested. For details about summer loans, please view our summer loans information. If a change or adjustment needs to be processed please contact the Office of Student Financial Services for guidance.

New Interest rates for loans first disbursed between July 1, 2024 and July 1, 2025:

All interest rates are fixed throughout the life of the loan.

Visit the repayment plans and calculators page at studentaid.gov to learn about repayment plans.

PLUS loan applications are available at studentaid.gov. At the time of application, a credit check will be performed to assess eligibility. All approved parent applicants must complete a parent PLUS master promissory note (MPN) also available on this website. Because credit checks expire after 180 days, it is recommended that applicants do not complete their PLUS application until their eligibility for this loan has been determined by the Office of Student Financial Services. Upon applying for the Federal Direct Parent Loan parents can indicate the specific loan period. A particular loan amount may also be requested. If a change or adjustment needs to be processed please contact the Office of Student Financial Services for guidance.

In the event that a PLUS application is denied, the student will be awarded the maximum unsubsidized direct loan amount for which they are eligible. Any credit balance created by the disbursal of parent PLUS funding will be refunded to the parent borrower.

New PLUS Counseling is required when the U.S. Department of Education has informed you that you must complete PLUS Counseling due to adverse credit history and you have obtained an endorser, or you have documented, to the satisfaction of the U.S. Department of Education, that there are extenuating circumstances related to your adverse credit history. 

Please be advised that this New PLUS counseling must be completed in order to have loan funds credited to your child’s account.

Repayment of the loan begins within 60 days of when the loan is disbursed unless special deferment conditions apply. 

New Interest rates for loans first disbursed between July 1, 2024 and July 1, 2025:

All interest rates are fixed throughout the life of the loan.

Application for a Nursing Student Loan may be made by completing the FAFSA, which must be completed each academic year. Students should complete and file the FAFSA as soon as possible after October 1 of each year, but no later than February 15 to ensure maximum eligibility. Upon receipt of the processed FAFSA, the University will determine your eligibility to participate in this federal loan program. Funding is distributed first come first serve to eligible nursing students who have completed the Nursing loan application.

Loan amounts will vary depending on individual financial circumstances and availability of funds. 

Loans must be repaid to Adelphi University. Repayment begins after a grace period of nine month following graduation or after you cease to be enrolled in at least 6 credits per semester in the nursing program. Your monthly payment is determined by your total indebtedness and the length of the repayment period (e.g., 10 years).

Eligible students will receive an email from ECSI (our billing service) at their Adelphi University email address regarding e-signing their Federal Nursing Loan master promissory note.

Application for a Nurse Faculty Student Loan may be made by completing the FAFSA, which must be completed each academic year. Students should complete and file the FAFSA as soon as possible after October 1 of each year.

To borrow funds through the Federal Nurse Faculty Student Loan a student must be a United States citizen and enrolled for a minimum of 3 credits each semester in a doctoral degree program offered through the College of Nursing and Public Health at Adelphi University. Students enrolled in a post master’s certificate program are not eligible to participate in the program.

Funds are limited and availability of funds varies from year-to-year. This is not a need-based loan program.

Eligible students who are awarded the Nurse Faculty Loan funds will receive an email from our billing service, ECSI, at their Adelphi University email address, with instructions on e-signing their Federal Nurse Faculty Student Loan master promissory note (MPN).

For further information: Contact the Adelphi University Office of Student Financial Services at 516.877.3080.

Consolidation loans make repayment easier by merging several student loans into a single, new loan with an extended repayment period. Even those with only one student loan can consolidate to take advantage of the longer repayment term. Choosing a longer repayment period potentially reduces your monthly payments.

For more information about loan consolidation, visit studentaid.gov.