Federal Loan Eligibility
General Eligibility Requirements:
In order to be eligible for any of the federal loan programs, you must meet the following requirements:
- You must be a U.S. Citizen, U.S. Permanent Resident or eligible non-citizen
- You must have a valid Social Security Number
- You must be enrolled at least half-time for the semester (6 units)
- You must not be in default on a federal educational loan and not owe a refund on a federal grant
- You must maintain Satisfactory Academic Progress
- If male, you must be registered with the Selective Service or obtain a waiver from the Selective Service Office
A note about Satisfactory Academic Progress
To maintain eligibility for Federal Loans, you must maintain Satisf actory Academic Progress (SAP). All MBA students are expected to maintain a minimum grade-point average of 3.0 for continued participation in the program and graduation. If your GPA falls below the minimum, you will be placed on academic probation and will become ineligible for the undisbursed portion of any federal loan.
Federal Grad PLUS Loan Eligibility Requirements
To be eligible for a Direct Grad PLUS Loan, you must also pass a credit check to ensure that there is no "adverse credit" your credit report.
The definition of "adverse credit" for the Grad PLUS Loan is defined in detail on the FAQ section of the FSA (Federal Student Aid) website.