Before completing your Student Loan Application, you must:
Have processed your 2016-2017 Free Application for Federal Student Aid (FAFSA). Should you be selected for the Verification Process, you must have completed your file.
Read the Financial Aid Student Guide. In this guide you will find valuable information about the Federal Student Loan Program.
Meet the following eligibility requirements:
Be enrolled at least part-time
Undergraduate Students: 6 credits per trimester
Graduate students: 3 credits per trimester
Meet the Satisfactory Academic Progress Standards of Polytechnic University Miami Campus
Be admitted as a regular student
Have not defaulted previous student loans or do not owe a refund on a federal student grant
Have financial need
If you receive veteran’s benefits, vocational rehabilitation or other benefits provided by Federal agencies or the employer, you must report those benefits to the Financial Aid Office.
Every student should comply with all eligibility requirements in each trimester to be eligible to receive student loan funds. If you do not meet the eligibility requirements when the Institution receives your loan funds, those funds will be returned to the federal government.
Annual Loan Limits for Student’s Grade Level
Credits
Grade Level
Loan Program
Loan Limits
Undergraduate Program
Dependent Student
Independent Student
0 – 30
1
Subsidized
$ 3,500
$ 3,500
Unsubsidized
$ 2,000
$ 6,000
31 – 60
2
Subsidized
$ 4,500
$ 4,500
Unsubsidized
$ 2,000
$ 6,000
61 – 90
3
Subsidized
$ 5,500
$ 5,500
Unsubsidized
$ 2,000
$ 7,000
91 – 120
4
Subsidized
$ 5,500
$ 5,500
Unsubsidized
$ 2,000
$ 7,000
120 or more
5
Subsidized
$ 5,500
$ 5,500
Unsubsidized
$ 2,000
$ 7,000
Graduate Program
Subsidized
$ 0
Unsubsidized
$ 20,500
Interest Rates for Stafford and PLUS Loans under the Direct Loan Program
Rates effective July 1, 2015
Loan Program
Grade Level
Interest rate for loans first disbursed between July 1, 2016 and June 30, 2017
Interest rate for loans first disbursed between July 1, 2017 and June 30, 2018
Subsidized Loan
Undergraduate
3.76%
4.45%
Subsidized Loan
Graduate
n/a
n/a
Unsubsidized Loan
Undergraduate
3.76%
4.45%
Unsubsidized Loan
Graduate
5.31%
6.00%
PLUS Loan
Parents and Graduate Students
6.31%
7.00%
Origination Fees: An origination fee will be deducted proportionately from each loan disbursement to cover processing costs incurred by the Federal Government.
Type of Loan
Origination Fee for Loans first disbursed between between October 1, 2016 and September 30, 2017
Origination Fee for Loans first disbursed between October 1, 2017 and September 30, 2018
Subsidized and Unsubsidized Loan
1.069%
1.066%
PLUS Loan
4.276%
4.264%
Student Application Form
Student Application Form
Important information for students applying for federal student loans:
You will need approximately 30 to 60 minutes to complete your loan application.
Make sure you complete the following documents:
Student Loan application
Entrance Counseling
Master Promissory Note (MPN)
Information you must gather before starting the application process:
Your Personal Identification Number (PIN). You can get you PIN at www.pin.ed.gov .
Personal Information
Home Address
Mailing Address (if different from your home address)
Phone number
E-mail address
Employer information
Employer name
Employer address
College Name: Polytechnic University Miami Campus
Information of References of two people that you know for the past 3 years. The first reference should be of your father/mother or of the legal tutor.