The Subsidized Federal Direct Stafford Loan is a need-based loan. Students borrowing the Subsidized Loan do not pay interest on the loan while they are enrolled at least half-time.
Subsidized Federal Direct Loan
The Unsubsidized Federal Direct Stafford Loan is not a need-based loan. Students borrowing the Unsubsidized Loan must pay interest while they are enrolled in school. This Unsubsidized Loan does allow you to defer the interest payments until you graduate; however, this will result in a higher loan payment over the life of the loan, so you will pay more in the long run.
Apply for the Federal Direct Subsidized/Unsubsidized Loans:
Once you have filed the FAFSA and received your SMU Award Notification Letter/Email, follow the steps below to complete your loan application.
- Log into your Access.SMU student account to
accept your loan. You may accept, reduce, or decline your loan.
*** If there is no loan award offered, please notify the Office of Financial Aid via e-mail at firstname.lastname@example.org or contact your Financial Aid advisor to submit your request. ***
- (If you are a first-time SMU borrower) Complete the
Direct Loan Entrance Counseling Tutorial and Quiz and
submit the results to SMU (school code 003613)
- (If you are a first-time Direct Loan borrower) Sign the Master Promissory Note (MPN). All students are required to use their PIN issued by the Department of Education. If you do not have a PIN, you may request one from the official PIN site.