Who is eligible?

Undergraduate students based on financial need.

How do I apply?

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.

Amount Available

  • Maximum Annual Eligibility (beginning July 1, 2007):
    • Freshman -- $3,500
    • Sophomore -- $4,500
    • Junior/Senior -- $5,500


  • Cumulative Totals:
    • $23,000 undergraduates  
    • Additional unsubsidized available for Independent Students


Cost & Fees

  • up to 1.1% fee on each loan.
  • Interest is paid by federal government during the grace period on loans disbursed prior to July 1, 2012. After July 1, 2012, all new loans interest begins at time of dropping below half-time/graduation. July 1, 2014, re-instated with new loans to pay interest during grace period.



  • Interest rate is a fixed of 4.66% beginning July 1, 2043 for undergraduate students. New interest rate will be determined each July 1st of each year, with that interest rate fixed for lifetime of loan.   
  • Interest is paid on the Subsidized Direct Loan by the federal government while the student is in school (except between July 1, 2012, and Jun3 30, 2013, those loans will NOT have interest paid during the grace period or deferment periods).
  • Repayment starts six months after graduation, withdrawal or dropping below half-time enrollment.
  • $50 minimum monthly; 10-year maximum repayment period.
  • Repayment with Direct Loans, depending on your servicer(s) .
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