HWS participates in the Federal Direct loan programs. Undergraduate students who file a FAFSA and are enrolled at least half-time each semester are eligible to borrow Federal Direct Loans. Graduate students who file a FAFSA and are enrolled at least half-time each semester may be eligible to borrow a Direct Unsubsidized Loan and/or a Direct Graduate PLUS Loan.
Direct loans are both subsidized (government pays the interest while student is enrolled) and unsubsidized (interest begins to accrue when funds disburse). These are loans in the student’s name and must be repaid. A master promissory note (MPN) and entrance counseling session must be completed online under Loans and Grant if you plan to borrow a Direct Loan. For the 2022-2023 academic year, the interest rate was fixed at 4.99% on both subsidized and unsubsidized undergraduate loans and 6.54% on unsubsidized loans for graduate students. A loan origination fee (rounded to the nearest dollar) is deducted prior to each disbursement to your HWS student account; 1.057% on loans with a first disbursement date 10/1/20 – 10/1/23. Repayment of your loans begins six (6) months after you graduate, leave school, or drop below half-time enrollment. Refer to the Federal Student Aid site for more comprehensive information. Please notify the Office of Financial Aid at email@example.com if you wish to decline or reduce the amount of your loan(s).