Student Loan Information

Types of Loans

Student Loans

If you apply for financial aid, you may be offered loans as part of Denison’s financial aid offer. A loan is money you borrow and must pay back with interest.

Federal Direct Student Loans

Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school.

Information about federal student loans is found on the Federal Student Aid website.

  • To apply for a Federal Direct Loan, you must first complete and submit the FAFSA Denison will use the information from your FAFSA to determine how much student aid you are eligible to receive. Direct Loans are generally included as part of your financial aid package.
  • Before Federal Direct Student Loans can be disbursed to your account, you must actively accept your loans via MyDenison.
  • First-time borrowers must complete a Master Promissory Note and Loan Entrance Counseling.
  • Master Promissory Note (MPN) and Entrance Counseling: The MPN is a promissory note that can be used to borrow multiple loans for multiple academic years (up to 10 years). While attending Denison University, students will need to complete a single MPN. This requirement is for all first-time borrowers of a Federal Direct Student Loan. First-time borrowers also are required to complete Loan Entrance Counseling. Loan Entrance Counseling and the MPN can be completed online at studentloans.gov using your FSA ID. If you do not have your FSA ID, you may request one from the official FSA ID site,
  • Repayment: Repayment begins 6 months after a student graduates, leaves school, or drops below half-time enrollment in a degree-seeking program.
  • Interest rate and fee information is available at Studentaid.gov. The net loan proceeds are credited to the student's account electronically in two equal disbursements, 10 days prior to the beginning of the each semester.

  • If you wish to reinstate a loan you have already declined or to modify a loan you have already accepted, please contact Office of Financial Aid
  • If you wish to decline a Federal Perkins Loan or a Denison Scholar Loan, please contact the Office of Financial Aid.

Federal Direct Parent Loan for Undergraduate Students (PLUS loans)

To apply for a Federal Direct PLUS loan, a parent must be a biological or adoptive parent of the student for which the loan is being borrowed. The loan is based on the credit worthiness of the parent. The maximum a parent can borrow is Denison's cost of education minus all financial aid the student receives.

Applying for a PLUS loan

Information about federal student loans is found on this website.

Additional information about Federal Direct (PLUS) Parent Loan for Undergraduate Students

  • To apply for a PLUS loan, you must complete and submit the FAFSA and the credit application at Studentloans.gov.
  • If you are approved, you can complete a Master Promissory Note, also on studentloans.gov.
  • Your FSA ID is required to sign into StudentLoans.gov. If you do not have your FSA ID, you may request one from the official FSA ID site,
  • Repayment may be deferred until after the student graduates. The loan has a ten year term.
  • Interest rate and fee information is available at Studentaid.gov. The net loan proceeds are credited to the student's account electronically in two equal disbursements, 10 days prior to the beginning of the each semester.
  • The interest on this loan begins to accrue when it is disbursed to the student's account, and continues to accrue until the loan is paid in full.
  • Master Promissory Note (MPN): The MPN is a promissory note that can be used to borrow multiple loans for multiple academic years (up to 10 years). The MPN requirement is for all first-time borrowers of a Federal Direct PLUS Loan who do not have any adverse credit issues. Parents only need to complete one MPN while their student is attending Denison University.

Alternative Student Loans

Students should fully exhaust their scholarship and federal loan options before turning to private educational loans. Parents should consider the Parent PLUS Loan option if it fits within their budget. We believe that students and families should seek and compare as many lender choices as possible in a format that helps them better understand the obligations and impact of borrowing to pay their educational expenses at Denison.