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General Contact Information

Phone: 646-312-1360

Fax: 646-312-1361


Mailing Address:

Baruch College, Financial Aid
One Bernard Baruch Way,
Box H-0880
New York, NY 10010-5585

Walk-In Address:

151 25th Street, Room #880

Financial Aid

Federal Direct Loan Program

Federal Direct Loans are one type of aid for which you can apply to pay for your school expenses. The lender is the U.S Department of Education. Before you fill out the request form, please read all of the information on the Direct Loan program and its criteria. It’s extremely important for you to understand the processes and your responsibilities as a borrower.

Make sure to only borrow what is needed since all loans must be repaid!


What are Direct subsidized/unsubsidized Loans?

Subsidized:  Available to students who demonstrate financial need. The Federal Government will pay the interest as long as you maintain half-time enrollment status (minimum of 6 credits). Interest will begin accruing six months after a student falls below half-time status or graduates from school.

Unsubsidized:  Available to students who do not demonstrate financial need. The borrower is fully responsible for paying the interest that accrues on the loan. Interest will begin to accrue from the date of disbursement and continues throughout the life of the loan.


Direct Loan Process and Application

  1. File a 2011-2012 FAFSA application online. This covers Summer 2011, Fall 2011, and Spring 2012 loan requests.
  2. Review your Student Aid Report (SAR). Be sure to read the “Comments” page since you may be required to submit additional documents.
  3. Complete the 2011-2012 Direct Loan Application
  4. Complete Entrance Counseling & Master Promissory Note (for first- time loan borrower at Baruch College). If you have any problems with completing your MPN electronically, please call the Applicant Information Center at 1-800-557-7394.

Each time you submit a loan application, the loan will be paid in 2 disbursements. If you know you will need a loan for the upcoming semester or for the entire academic year, it’s best to apply for all of the semesters at once, on ONE loan application.

The loan will take approximately 15 days to process from the date that you submit to the Office of Financial Aid Services. Be sure to submit early to avoid any registration cancellations or delays.

Current Interest Rates on the Direct Loan are available here.

What are the eligibility requirements?

The applicant must be:

  • A U.S citizen or eligible non-citizen
  • Must be a matriculated student and enrolled as least half-time
  • Must not be in default of any previous federal loans
  • Must meet the Satisfactory Academic Progress


What is the limit for the Direct Loan?

Grade Level Dependent
Undergraduate Student
Undergraduate Student **
Graduate Student
(0-29 credits)
$5,500 - No more than $3,500
of this amount may be in Subsidized loan.
$9,500 - No more than $3,500 of this amount may be in Subsidized loan.
(30-59 credits)

$6,500 - No more than $4,500
of this amount may be in Subsidized loan.
$10,500 - No more than $4,500
of this amount may be in Subsidized loan.
Junior / Senior
(60+ credits)
$7,500 - No more than $5,500
of this amount may be in Subsidized loan.
$12,500 - No more than $5,500
of this amount may be in Subsidized loan.
Maximum lifetime Direct Loan borrowing amount $31,000
(No more than $23,000
of this amount may be in Subsidized loan)
(No more than $23,000
of this amount may be in Subsidized loan)
(No more than $65,500
of this amount may be in
Subsidized loan)
**  Also applies to dependent undergraduate students whose parents was denied a PLUS loan


All institutional and federal aids cannot exceed the Cost of Attendance. The COA is established by the CUNY Central Office in accordance with federal regulations and it includes: tuition, fees, books, supplies, and personal expenses.  Therefore, a student’s loan may be reduced if additional financial aid is awarded after the loan has been processed.


What to do once you’ve submitted the Loan Application?

Once the loan is processed, you will receive a “Statement of Disclosure” from the US Department of Education in the mail. The letter will indicate the loan amount approved as well as the anticipated dates of disbursement. Please read this carefully and keep it for your record.


Change in Enrollment Status

If you drop below 6 credits, you will not be entitled for the Direct Loan. And your loan will go into repayment.

If you withdraw from ALL of your courses before completing 60% of the semester, your federal grants and loans will be recalculated.  The “Return to Title IV” calculation will determine how much of the federal financial aid you have received for the semester was actually “earned”, and how much must be repaid. The amount of financial aid earned is based on the student’s date of withdrawal from all classes.

Students who have already received a refund check from the Baruch College may owe money that must be returned.


Loan Repayments & Deferments

A loan calculator is available to help you estimate what your monthly payments might look like.

For a Direct Loan deferment, please go here or call the Direct Loan Servicing Center at 1-800-848-0979.


Are there any federal loans available to parents?

The Federal Direct Parent PLUS loan is a loan from the U.S Department of Education for parents of undergraduate students. The student must have completed a FAFSA application and enrolled at least half-time status. The interest rate on the loan  is fixed at 7.9% and there is also a 4% of origination fee on the requested loan amount. Interest is charged from the date of the first disbursement until the loan is paid in full.

Repayment on PLUS Loan begins 60 days after the second disbursement of the loan. Loan approval is based on credit history and a credit check will be done.

Federal Direct Parent PLUS loan application


Other important Information to know:

  • The federal government charges all borrowers an origination fee of approximately 1% for Direct subsidized/unsubsidized and 4% for Direct PLUS Loan at the time the loan is disbursed.
  • All loans are paid in at least 2 disbursements.


Important Contact Numbers:

Federal Direct Loan Service Center

Phone: (800) 848-0979

Direct Loan Payment & Consolidation

Phone: (800) 557-7392


National Student Loan Data System (NSLDS)

Phone: (800) 999-8219


Selective Service System (SSS)

Phone: (847) 688-6888


IRS Information

Phone: (800) 829-1040