- Academic Calendar
- General Information
- Admission Information
- Academic Information
- Academic Support
- Financial Information
- Financial Aid
- Financial Assistance General Information
- Financial Aid Application Deadlines
- Rights and Responsibilities of Financial Aid Recipients
- Fund Disbursements
- Satisfactory Academic Progress for Financial Aid Recipients
- Financial Aid Refund Policies
- Academic Transcript Request Policy for Student Loan Borrowers in Default
- Federal Loans
- Adventist University of Health Sciences Scholarships
- Veteranâ€™s Certification
- Department of Health and Biomedical Sciences
- Department of Nurse Anesthesia
- Department of Occupational Therapy
- Course Descriptions
Federal Direct Unsubsidized Loan
The Direct unsubsidized loan enables graduate students to borrow money directly from the government. It is a fixed-interest-rate loan at 6.8%. The interest is the responsibility of the borrower. Students may pay the interest while they are in school, or they may have it capitalized (added to the principal balance of the loan). There is a six-month grace period from the time the student is no longer enrolled half-time until the student must start making payments. This loan is not based on need, and all financial aid cannot exceed the cost of attendance.
Eligibility for the Federal Direct Unsubsidized Loan is determined by the financial information provided by the student on the FAFSA. The Master Promissory Note (MPN) is available online at www.studentloans.gov and must be certified by the Financial Aid Office while the student is enrolled. The Master Promissory Note only needs to be completed once. You can borrow additional loans on a single MPN for up to ten years.
Students requesting the Federal Direct Unsubsidized Loan for the first time at Adventist University of Health Sciences must complete a Graduate Entrance Loan Counseling session online at www.studentloans.gov before disbursement of student loans is made. Students withdrawing from school, drop to less than half-time enrollment, as well as those who graduate, must complete an Exit Loan Counseling session online at www.studentloans.gov in which important payback information concerning their loan is covered.
You will receive a disclosure statement from the Department of Education that will give you specific information about any loan that the school plans to disburse under your MPN, including the loan amount, fees, and the expected disbursement dates and amounts.
To see when the dollars have been credited, the student may look online at my.adu.edu, Student Account. You will also receive in writing each time Adventist University disburses part of your loan funds and will provide information about how to cancel all or part of your disbursement if you find you no longer need the funds.