Federal student loans are government-backed, or guaranteed. They are low-cost, fixed-rate loans that may be subsidized (based on need) or unsubsidized (not based on need). Subsidized loans begin to accrue (accumulate) interest when repayment begins (six months after you leave school or your attendance drops below half-time), while unsubsidized loans begin to accrue interest as soon as the loan is fully disbursed. Award amounts are based on grade year classifications and vary each year.

Students must be enrolled at least half-time to be eligible for a direct loan disbursement.

Half-time status at UMGC is defined differently depending on your program:

  • Undergraduate (6 credits)

  • Graduate (6 credits)

Initial awards are based on the assumption that you will be enrolled half-time; awards may be adjusted if you enroll for more or less credits.

Awards will be adjusted on the following schedule (to match your current enrollment):

  • Fall Semester: September and December

  • Winter Semester: March

  • Spring Semester: February and May

  • Summer Semester: June and August

Note: Please contact our office if you add classes after the review dates listed above to determine if you are eligible for additional financial aid funds. Also, If you plan to drop or withdraw from any classes please contact our office to learn about any potential impact to your financial aid.

Repaying Your Student Loan

Repaying your student loan is not an obligation to be taken lightly. It could affect your future financial health. Understand your options and responsibilities.

Student Loan Ombudsman

If you are interested in contacting the Student Loan Ombudsman, please see the information below.

Telephone: 877-557-2575
Fax: 606-396-4821
FSA Ombudsman Group
P.O. Box 1843
Monticello, KY 42633

Federal Loan Programs

Find out how the Federal Direct Graduate PLUS loan program can help with your expenses.

Learn about the William D. Ford Federal Direct Student Loan program at UMGC Asia.

Get information on the Federal Perkins Loan Program for need-based aid.

Learn about the Direct PLUS loan, which enables a parent to borrow for an undergraduate student.