Federal Loans

If you are unsure of what type of federal loans you have borrowed, please check the National Student Loan Database System (NSLDS) at www.nslds.ed.gov.  You will need your Department of Education/FAFSA PIN to access this information.  If you need a PIN or forget your PIN, visit www.pin.ed.gov.

What is a Direct Loan?

  • The William D. Ford Federal Direct Loan Program, also referred to the Direct Loan Program, is a federal program that provides loans to student and parent borrowers directly through the U.S. Department of Education. Bridgewater State University offers Direct Subsidized and/or Unsubsidized Direct Loans. See below for a definition of Subsidized and Unsubsidized Loans.

What is a FFEL Loan? (program ended in 2010)

  • The Federal Family Education Loan Program, also referred to as a FFEL or Stafford Loan, is a federal program similar to the Direct Loan Program that provides loans to student and parent borrowers by utilizing banks and/or lenders as agencies that service the loans. A FFEL Loan can be Subsidized and/or Unsubsidized. Please see below for definitions of Subsidized loans and Unsubsidized Loans. Bridgewater State University does not offer FFEL Loans, but if you have attended another institution, you may have received a FFEL/Stafford Loan.
  • Federal Subsidized Loan
           A federally financed and subsidized student loan made on the basis of the student's financial need and other specific eligibility requirements. There is no interest charged on these loans while borrowers are enrolled at least half-time, during a six-month grace period, or during authorized periods of deferment.
  • Federal Unsubsidized Stafford/Ford Loan
           A federally financed student loan made to students meeting specific eligibility requirements. Interest is charged throughout the life of the loan. The borrower may choose to pay the interest charged on the loan or allow the interest to be capitalized (added to the loan principal).

What is a Perkins Loan?

  • The Federal Perkins loan is a long-term, low interest (5% fixed) federal loan awarded by the Financial Aid Office of the school you attended. The institution serves as the lender and your payments are made out to the school when you are in repayment.
  • Bridgewater State University uses the student loan management system University Accounting Services (UAS) to assist in the administration and billing of the Perkins Loan. For FAQ's and more information about UAS, visit them at www.uaservice.com .

Last Modified: April 11, 2013