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Loan Application

Before completing your student loan application, you must:

1. Complete the FAFSA (Pell grant) application for the academic year you are applying for.

2. If you were selected for the Verification Process, you must have delivered all required documents to the Financial Aid Office.

3. You must always be enrolled at least as a Half-time student to receive loan funds:

a. 6 or more credits per term for undergraduate students
b. 3 or more credits per term for graduate students.

4. Courses taken in every term should be those included in your study program and which are required for graduation.

5. Comply with the Standards for Academic Progress of the Financial Aid Office of the Polytechnic University of Puerto Rico.

6. Be admitted as a regular student.

7. Should not have a debt with the US Department of Education.

8. Have financial need.

9. Complete a Master Promissory Note and an Entrance Counseling on the Department of Education’s webpage.

To be eligible for loan disbursements, every student must comply with these requirements every term. If the student does not comply with one or more of these requirements, funds will not be disbursed.

Loan Limits per Academic Level

Undergraduate Programs

Credits Year Amount for Dependent Students Amount for Independent Students
Subsidized Unsubsidized Subsidized Unsubsidized
0 – 36 1 $3,500 $2,000 $3,500 $6,000
37 – 72 2 $4,500 $2,000 $4,500 $6,000
73 – 108 3 $5,500 $2,000 $5,500 $7,000
109 – 144 4 $5,500 $2,000 $5,500 $7,000
145 + 5 $5,500 $2,000 $5,500 $7,000

Aggregate total amount of loans for Undergraduate dependent students is $31,000.

Aggregate total amount of loans for Undergraduate independent students is $57,500.

Graduate Programs

Credits Year Amount for Independent Students
Subsidized Unsubsidized
Any Any Not applicable $20,500

Students in a Graduate program are no longer eligible for subsidized loans.

Aggregate total amount of loans for Graduate students is $138,500.

Interest Rates for Stafford and PLUS Loans in the Direct Loan Program
Loan Program Grade Level Interest rate for loans first disbursed between July 1, 2017 and June 30, 2018 Interest rate for loans first disbursed between July 1, 2018 and June 30, 2019
Subsidized Loan Undergraduate 4.45 % 5.05 %
Unsubsidized Loan Undergraduate 4.45 % 5.05 %
Unsubsidized Loan Graduate 6.00 % 6.60 %
PLUS Loan Parents of Undergraduate students and Graduate students 7.00 % 7.60 %

NOTICE: Effective as of July 1, 2010, the only loans available are under the Direct Loan Program.

 

Origination Costs – these are fees charged by the federal government for managing student loans. These amounts are subtracted from the total amount of the loan.

Type of Loan Origination Fee for Loans first disbursed between between October 1, 2017 and September 30, 2018 Origination Fee for Loans first disbursed between October 1, 2018 and September 30, 2019
Subsidized and Unsubsidized Loan 1.066% 1.062%
PLUS Loan 4.264% 4.248%

Important information for students who are applying for federal student loans:

1. You will need approximately 30 – 60 minutes to complete your application.

2. Make sure to complete the following:
— Federal Student Loan Application
— Entry Interview
— Master Promissory Note (MPN)

What information do I need to have?

1. Federal PIN number (Personal Identification Number)

2. Personal information:
— Permanent address
— Postal address (if different from permanent address)
— Phone number
— Email address

3. Employment information
— Name of employer
— Address of employer

4. Name of university (Polytechnic University of Puerto Rico)

5. Reference information for two people who have known you for the past 3 years. The first reference should be the mother, father or legal guardian
— Reference name
— Reference address
— Reference phone number
— Relation to student

Continue with the Federal Student Loan Application

Important information for students who are applying for a federal PLUS loans or graduate students who are applying for a Grad PLUS Loan:

1. You will need approximately 30 – 60 minutes to complete your application.

2. Make sure you have the following documents:
— PLUS Loan Application
— Master Promissory Note (MPN)

What information do I need to have?

1. Federal PIN number (Personal Identification Number)

2. Personal information:
— Permanent address
— Postal address (if different from permanent address)
— Phone number
— Email address

3. Employment information
— Name of employer
— Address of employer

4. Name of university (Polytechnic University of Puerto Rico)

5. Reference information for two people who have known you for the past 3 years. You may not include in your references the student for whom you are requesting the loan.
— Reference name
— Reference address
— Reference phone number
— Relation to student

6. Student information
— Student’s First Name, Middle Initial, Last Names
— Student’s Social Security Number
— Student’s Date of Birth
— Student’s address
— Student’s phone number

Continue with the Federal PLUS Loan Application