Direct Loan Master Promissory Note (MPN)-- NEW as of Feb 25th
You apply for a Federal Perkins Loan when you fill out the need analysis (FAFSA). BHSU is the lender for this loan and handles the paperwork. Funding is limited. Applications must be submitted by March 1 for priority consideration.
BHSU will send you an award letter indicating your maximum Direct William D. Ford Loan eligibility and will provide you with instructions on how to apply. Please review Award Handbook , If questions, contact the Financial Aid Office.
Who is eligible?
Dependent undergraduate students who do not qualify in whole or in part for a Subsidized Direct Loan.
How do I apply?
BHSU will send you an award letter indicating your maximum unsubsidized Direct Loan eligibility and will provide you with instructions on how to apply -- refer to the Award Handbook. The application can be found at the Direct Loan MPN link at the top of this Student Loan tab. If questions, contact the Financial Aid Office.
Amount Available
The combination of subsidized and unsubsidized Direct Loans cannot exceed Direct Loan limits. Refer to Award Handbook.
Costs & Fees
Fees with up-front rebate. To retain the up-front interest rebate, a borrower must make their first twelve monthly payments on time. If all of the twelve monthly payments are not made on time, the rebate amount is added to the borrower's principal loan balance, which will, increase the loan amount that must be repaid.
Interest begins to accrue from the date the funds are disbursed.
Repayment
Direct Unsubsidized Loan-In
Independent undergraduate or graduate students who do not qualify in whole or in part for a Direct Subsidized Loan.
BHSU will send you an award letter indicating your maximum unsubsidized Direct Loan eligibility and will provide you with instructions on how to apply -- refer to Award Handbook. If questions, contact the Financial Aid Office.
Interest begins to accrue from the date the funds are disbursed on Unsubsidized Direct Loans.
Natural or adoptive parents of dependent students who meet federal government eligibility requirements. A credit analysis will be required.
Who is eligible?Pell and Supplemental Educational Opportunity (SEOG) grants are awarded on the basis of financial need. Academic Competitiveness Grant (ACG) and National Science and Mathematics Access to Retain Talent (SMART) Grants are based on need and grade point average (GPA). Federal TEACH Grant is based on GPA or academic testing and is available to both undergraduate and graduate; the service agreement and counseling (at service agreement link) must be completed if student is eligible. TEACH recipients must teach 4 years in a high-need field in a low-income school as defined by the Department of Education (link on TEACH Grant). The federal government funds the Pell Grant Program, SEOG, ACG and SMART to undergraduate students.
How do I apply?You apply for these grants when you fill out the need analysis form (FAFSA). The FAFSA is available after January 1 of each year for the following summer, fall and spring semesters' aid; please go to FAFSA Online. Funding is limited for SEOG. Students who submit the FAFSA by March 1 (the priority deadline) will be considered for SEOG and federal work-study.
Mapping your Future
CONTACT INFORMATION: Black Hills State University Office of Admissions 1200 University St. Unit 9502 Spearfish, SD 57799-9502 605.642.6343admissions@bhsu.edu
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