Loans
Loans are borrowed money that must be repaid with interest. Student must have a valid FAFSA on file to receive a federal loan. The Cohort Loan Default rate for Columbus State University was 10.1 for fiscal year 2016 as of January 26, 2019.
Federal Student Loan Programs
Federal Direct Stafford Subsidized Loan
This loan is awarded on the basis on financial need. You will not be charged any interest before you begin repayment or during authorized periods of deferment. The federal government "subsidizes" the interest during these periods. You must be enrolled at least half time, and complete Entrance Loan Counseling and the Master Promissory Note (MPN) before the loan can pay to your account.
Federal Direct Stafford Unsubsidized Loan
This loan is not awarded on the basis of need. You'll be charged interest from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized—that is, the interest will be added to the principal amount of your loan and additional interest will be based upon the higher amount. This will increase the amount you have to repay. You must be enrolled at least half time, complete Entrance Loan Counseling and the Master Promissory Note (MPN) before the loan can pay to your account.
Federal Student Loan Interest Rates
Federal Student Loan Interest Rates are set every July 1.
Loan Counseling
You must complete the following 2 steps to finalize processing of an educational loan request:
- Complete Entrance Counseling at https://studentaid.gov/.
- Complete and Sign your electronic Master Promissory Note at https://studentaid.gov/. Select Complete New MPN for Student Loans on the left. You will use your FSA ID to sign your promissory note. This is the same ID used to complete the FAFSA application. If you do not have an FSA ID, you should first register at https://studentaid.gov/fsa-id/sign-in/landing (allow 3 to 5 days) before attempting to complete step 2.
