Student loans

Federal Stafford Loans are available through the William D. Ford Federal Direct Loan Program. Direct Loans are either subsidized or unsubsidized.

A subsidized loan is awarded on the basis of financial need. You will not be charged any interest before you begin repayment. The federal government subsidizes the interest during these periods.

An unsubsidized loan is not awarded on the basis of need. You will 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. If you choose to pay the interest as it accumulates, you’ll repay less in the long run. You can receive a subsidized loan and an unsubsidized loan for the same enrollment period.

After receiving your award notification, you must fill out MTSO’s loan request form.

If you are a first-time borrower at MTSO, you also must complete the federal government’s Entrance Counseling and Master Promissory Note.

Student loan calculation tools are available at this site, which is administered by an organization unaffiliated with MTSO.

MTSO’s statement of expectations regarding the selection of student loan venders is available here.