Federal and Private Loans
Education is an investment in your future. Many students choose to fund that investment through carefully considered and responsible borrowing.
When managed correctly, an educational loan can be an invaluable tool in financing your Adelphi education. Since all loans must be repaid, you should explore all of your options and only borrow what you absolutely need.
Below you’ll find specific criteria for eligibility, application process, loan amounts, special provisions and notification schedule.
Federal Direct Loan
A Federal Direct Loan is a low-interest loan available to students enrolled and actively attending a minimum of 6 credits per semester. Federal student loans do not disburse until a student has begun attendance in at least 6 credits; students enrolled in late start classes may be subject to a delayed disbursement. These loans are originated and guaranteed by the federal government.
Depending on the need of the student as calculated by the Department of Education, these loans are either made on a subsidized basis, where the federal government pays the interest during the enrollment period, or an unsubsidized basis, where the student is responsible for such interest. Graduate students are not eligible to receive Federal Direct Subsidized 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 expected family contribution (EFC) 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
| Class Year | Maximum Annual Loan Amount |
|---|---|
| First-Year (0–29 credits) | $5,500 per year |
| Sophomores (30–59 credits) | $6,500 per year |
| Juniors and seniors (60 or more credits) | $7,500 per year |
Independent Students
| Class Year | Maximum Annual Loan Amount |
|---|---|
| Freshmen (0-29 credits) | $9,500 per year |
| Sophomores (30–59 credits) | $10,500 per year |
| Juniors and seniors (60 or more credits) | $12,500 per year |
Graduate Students
| Class Year | Maximum Annual Loan Amount |
|---|---|
| Graduate | $20,500 in Unsubsidized Federal Direct Loan per year |
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:
| Loan Type | Borrower Type | Fixed Interest Rate |
|---|---|---|
| Federal Direct Subsidized Loans | Undergraduate Students | 6.53% |
| Federal Direct Unsubsidized Loans | Undergraduate Students | 6.53% |
| Federal Direct Unsubsidized Loans | Graduate/Professional Students | 8.08% |
| Federal Direct PLUS Loans | Parents of Dependent Undergraduate Students and Graduate/Professional Students | 9.08% |
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 plans and calculators 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.
Federal Direct Graduate Plus Loan
Graduate PLUS loans are available to graduate students who feel they need to borrow additional funds above their unsubsidized direct loan amounts. Applicants of graduate PLUS loans must file the FAFSA and meet all federal eligibility criteria. Creditworthiness is a factor in obtaining this loan.
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 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:
| Loan Type | Borrower Type | Fixed Interest Rate |
|---|---|---|
| Federal Direct Unsubsidized Loans | Graduate/Professional Students | 8.08% |
| Federal Direct PLUS Loans | Parents of Dependent Undergraduate Students and Graduate/Professional Students | 9.08% |
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.
Federal Direct Parent Loan for Undergraduate Students (PLUS)
A Parent PLUS loan is available to parents of dependent children enrolled in a minimum of 6 credits per semester. A parent may borrow up to the cost of education, less any other financial assistance, each academic year. Credit worthiness is a factor in obtaining this loan. PLUS loans carry fixed interest rates, set each June.
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:
| Loan Type | Borrower Type | Fixed Interest Rate |
|---|---|---|
| Federal Direct Subsidized Loans | Undergraduate Students | 6.53% |
| Federal Direct Unsubsidized Loans | Undergraduate Students | 6.53% |
| Federal Direct Unsubsidized Loans | Graduate/Professional Students | 8.08% |
| Federal Direct PLUS Loans | Parents of Dependent Undergraduate Students and Graduate/Professional Students | 9.08% |
All interest rates are fixed throughout the life of the loan.
Nursing Student Loan
A Nursing Student Loan is a low-interest loan (5%) available to students enrolled in a nursing program (both undergraduate and graduate). Repayment may be extended over a 10-year period.
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.
Federal Nurse Faculty Student Loan
The Nurse Faculty Loan Program was created by the Department of Health and Human Resources, Health Resources and Services Administration to increase the number of qualified nursing faculty. The funds are a low-interest federal loan repayment program. Nurse Faculty loan funds are geared toward students pursuing a doctoral degree in nursing to become qualified nurse faculty. Borrowers who graduate and serve as full-time nursing faculty can receive loan cancellation of up to 85%.
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.
Federal Consolidation Loan
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.
Loan Fees
Loan Fees are a percentage of the principal amount charged for each Federal Direct Loan borrowed. The fee is subtracted proportionally from each disbursement of the loan. Please refer to your Master Promissory Note (MPN) and disclosure statement.
Loan fees for disbursements made on or after October 1, 2020 and before October 1, 2024.
Visit Federal Student Aid’s website to understand interest rates and loan fees.
Federal Assistance for Books and Supplies
Students who are receiving Federal financial assistance (Title IV financial aid including grants and loans) in excess of their institutional charges will have money available for books and supplies beginning 10 days before the beginning of the semester. The following are the steps in this process:
- Eligible students will be notified through their Adelphi email account informing them that they qualify for an advance of funds for books/supplies.
- An email will also be sent to the Adelphi bookstore indicating maximum eligibility for the anticipated books/supplies credit. The maximum will be the lesser of the anticipated credit balance or $510 per semester.
- After receiving this email, visit Adelphi bookstore to purchase your books and supplies. During the checkout process you will be presented with the option to use your Title IV funds. Once selected and you agree to the Financial Aid Terms & Conditions, you can proceed with your order. Your Adelphi student account will be billed for the amount of this anticipated credit and will be adjusted based on actual usage.
- If you wish to opt out of this process you must respond via the instructions included in your email.
- The anticipated credit balance is subject to change if there are revisions to the financial aid awards. Changes in enrollment, housing status and cost of attendance or application information may cause revisions to financial aid awards.
Private Loans
Private loans, also known as alternative loans, are available through various lenders. These loans are designed to assist students and their families who find that they need additional financing for educational expenses, and who may not be eligible for federal grants or federal loan funds. Loan approval is generally based on credit-worthiness and ability to repay. Rates vary by lender and by credit rating with applicants who have co-signers receiving more favorable interest rates and higher approval rates.
The interest rates on private loans are either fixed or variable. Please be aware lenders offer various loan products that may include Parent/Sponsor loans that could be a good fit for students and families. Check with your lender for specific details on these types of loan. You are strongly advised to carefully compare the differences between private and federal loans as well as all repayment obligations.
The link below will allow for a comparison of various private loan lenders that Adelphi University students have used historically. You are encouraged to review each lender’s information to determine which benefits and terms are best for you now and in the future. You are not required to borrow from any specific lender and there is no penalty for choosing one lender over another. Any lender not represented on the comparison tool can still be considered and certified by Adelphi University.
ELMSelect – Compare Options of Private Loan Lenders
Estimate Your Loan Payments
Compare your future monthly payment amounts under different repayment plans using the federal government’s repayment estimator.