Student loans are long-term, low-interest loans, which come due only after enrollment has ended. (i.e. graduation, withdrawal from the university, or upon less than half-time enrollment). The Citadel’s Office of Financial Aid & Scholarships operates by the Code of Conduct established by the National Association of Student Aid Administrators (NASFAA).
To understand the difference between federal education loans and private borrowing options, please visit the Federal Student Aid website.
Once awarded you must log into Lesesne Gateway to accept/decline the awards. Click here for instructions to accept/decline.
Federal/State Education Loan Options
Students who complete the FAFSA are automatically considered for the Federal Direct Loan program (Subsidized and/or Unsubsidized Direct Loans). To maintain eligibility, the following requirements must be met.
- Maintain Satisfactory Academic Progress
- Enrolled at least half-time
- Accepted into a degree seeking program
Entrance Counseling and signing a Master Promissory Note are requirements for all first time borrowers of Federal Direct student loans. Loans cannot be processed until requirements are met. Students with federal loans complete Exit Counseling upon graduation, leaving school, or attendance under half-time status.
| Loan Type | Who | Addt’l Info | Limit | Interest Rate | Origination Fee | Deadline | Repayment |
| UNDERGRADUATE Subsidized Federal Stafford/Direct | At least 1/2 time degree-seeking student | Based on Financial Need Aggregate limit $23,000 | $3,500/yr, fresh $4,500/yr, soph $5,500/yr, jr/sr/+ | Disbursed between 7/1/24 & 6/30/25 = 6.53% | 1.057% between 10/1/23 & 10/1/24 | N/A | Begins 6 mo. after graduate, leave school, or drop below half-time status. |
| UNDERGRADUATE Unsubsidized Federal Stafford/Direct (Dependent Student Aggregate $31,000 including $23,000 from Subsidized Loan) | At least 1/2 time degree seeking student | Aggregate limit for Dependent Students =$31,000 Aggregate limit for Independent students =$57,500 | $2000 plus unused Subsidized eligibility. Independent students are eligible for more. | Disbursed between 7/1/24 & 6/30/25 = 6.53% | 1.057% between 10/1/23 & 10/1/24 | N/A | Interest accrues, otherwise same as Subsidized. |
| UNDERGRADUATE Parent Direct PLUS | Parent of dependent undergraduate student | Awarded up to Cost of Attendance (COA) | Up to the cost of attendance each year | Disbursed between 7/1/24 & 6/30/25 = 9.08%. | 4.228% between 10/1/23 & 10/1/24 | N/A | Begin repayment 60 days after disbursement, or deferred until full-time student graduates. |
| GRADUATE Unsubsidized Federal Stafford/Direct | At least 1/2 time Masters Degree seeking student | Aggregate limit= $138,500 total | Up to $20,500 each year, | Disbursed between 7/1/24 & 6/30/25 = 8.08%. | 1.057% between 10/1/23 & 10/1/24 | N/A | Interest accrues, otherwise same as Subsidized. |
| GRADUATE Direct PLUS | Eligible Graduate & Professional students | Awarded after maximum Unsubsidized Loan up to Cost of Attendance (COA) | Up to the Cost of Attendance, after unsubsidized loan | Disbursed between 7/1/24 & 6/30/25 = 9.08%. | 4.228% between 10/1/23 & 10/1/24 | N/A | Begins 6 mo. after graduation as long as student is continually enrolled. |
| GRADUATE SC Teachers Loan/ Career Changers | SC residents enrolled at least 1/2 time | N/A | Teachers Loan: $5,000/yr, $20,000 total Career Changers: up to $15,000/yr, $60,000 total | Current Stafford rate plus 2% | As low as 1% | June 01: first come, first served | Loan can be cancelled at rate of 20% or 33% per year if teaching obligations met. |
Information about different types of loans should be obtained from the Financial Aid Office before selecting a loan program to cover college costs.
Private Education Loan Options
Students should consider the federal loan programs first because terms and conditions are typically the most favorable. However, a variety of private lending corporations offer alternative education loans. The Citadel uses a convenient one-stop service called FASTChoice to list and compare features of the education loans commonly used by Citadel students. It is recommended that families explore as many opportunities as possible.
