Loan Application Form
Before Applying
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
- Be enrolled at least part-time
- 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
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.
- Reference Name
- Complete Address
- Phone number
- Relationship with student
Parent Plus Application Form
Important information for parents applying for a Parent PLUS loans:
- You will need approximately 30 to 60 minutes to complete your loan application.
- Make sure you complete the following documents:
- Parent PLUS Loan application
- Master Promissory Note (MPN)
Information you must gather before starting the application process:
- Your Personal Identification Number (PIN). You can get a PIN at www.pin.ed.gov .
- Parent’s Information
- Home Address
- Mailing Address (if different from your home address)
- Phone number
- E-mail address
- Employer information
- Employer name
- Employer address
- School Name: Polytechnic University Miami Campus
- Information of References of two people that you know for the past 3 years. The student cannot be included as a reference.
- Reference name
- Complete address
- Phone number
- Relationship with student
- Student’s Information
- Name: First, Middle Initial and Last Name
- Social security number
- Date of birth
- Mailing address
- Phone number