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Types of Student Loans:

The following types of student loans are available to matriculated students.  Students must apply for financial aid by filling out the FAFSA in order to be awarded these loans.  For more information on credit-based alternative and private parent loan programs please visit the Alternative Loans page.

Massachusetts No Interest Loan (NIL) program was created to provide eligible, needy Massachusetts residents attending post-secondary educational institutions in Massachusetts with a state-funded loan. The NIL program offers zero interest loans to assist students in meeting educational costs. Students have a period of ten (10) years to repay their NIL loans. Students must be full-time to qualify for these loans.

If you were awarded a NIL you can follow these instructions to complete the process.

Federal Perkins Loan

A Federal Perkins Loan is a low-interest (5 percent) loan for undergraduate students with exceptional financial need and enrolled at least half-time (more than 6 credits).

Federal Stafford Loans

Federal Subsidized Direct Loan

  • Need based, long-term federal loan, for which the Federal government will pay the interest while students are enrolled, as well as during deferment periods. Students must be at least half-time to qualify for this loan.

  • Repayment of both principle and interest begins six months after a student graduates, withdraws, or drops below half-time enrollment.

  • The interest rate for 2014-2015 will be fixed at 4.66% for undergraduate students.

  • Current Subsidized Loan limits are: $3500 for freshmen, $4500 for sophomores, and $5500 for juniors and seniors.

  • This must be repaid.

  • More information about Direct Stafford loans may be found at

Federal Unsubsidized Direct Loan-

  • Federal Loan available to students regardless of calculated need. Students must be at least half-time to qualify for this loan.

  • Interest begins to accrue immediately and accumulates during deferment periods.  Paying toward interest while the student is enrolled is optional, but advised.

  • The interest rate is fixed at 4.66% for undergraduate students and 6.21% for graduate students.

  • Loan limits are combined with subsidized stafford to allow a total limit of $5500 for freshmen, $6500 for sophomores, $7500 for juniors and seniors and $20,500 for graduate students .

  • This must be repaid.

  • More information about Direct Stafford loans may be found at

  • For instructions to complete entrance counseling and MPN please see Stafford directions.

Federal Parent Loan (PLUS Loan)

  • Are unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.  The interest rate for 2014-2015 is fixed at 7.21%.
  • The borrower must not have an adverse credit history.
  • For instructions on applying for a PLUS loan, please visit the PLUS Directions page.
  • Please note, if applying for a PLUS loan, the credit decision on PLUS loan applications is only valid for 90 days from the date of the application. If funds are not disbursed to the school within that 90 days, your credit will have to be reassessed. For this reason any PLUS loans for the fall/spring 2014-2015 academic period should not be applied for any earlier than early June, 2014.
  • More information about Direct Stafford loans may be found at

National Student Loan Data System (NSLDS)

  • NSLDS is the U.S. Department of Education's central database for student aid and offers a centralized, integrated view of Title IV loans and Pell Grants that are tracked through their entire cycle; from aid approval through closure.

    Data is transmitted to NSLDS from schools, agencies that guaranty loans, the Direct Loan program, the Pell Grant program, and other U.S. Department of Education programs.

    Through NSLDS, you can view personalized information on your federal student loans or Pell Grants. You can also view information on your loan servicer(s):

    • Access the NSLDS Web site
    • Select the numbered yellow button beside each loan within NSLDS that you would like information.
    • You will be directed to loan detail information, which includes the name of the lender and the loan servicer as well as contact information for both.

Framingham State University

100 State Street

PO Box 9101

Framingham, MA 01701-9101


Phone: 508-620-1220