Federal Student Loans

At Palm Beach State College, we want our students to be highly educated and informed. If you are considering borrowing a Federal Direct Student loan to help pay for your education, please ensure that you understand your rights and responsibilities. Learn more about the Federal Loan program.

Golden Rule: Borrow only what you need. You must repay loans, including principal and interest.

 

Types of Loans  

Direct Subsidized Loans: Loans made to eligible undergraduate students who demonstrate financial need to help cover higher education costs at a college or career school. 

Direct Unsubsidized Loans: Loans made to eligible undergraduate, graduate and professional students. Eligibility is not based on financial need. 

Direct PLUS Loans: Loans made to parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify. 

 

How to Accept/Decline Loans  

Students who file a FAFSA form and apply for financial aid will see loans they are eligible for in their financial aid awards tab in Workday. Loans can be accepted or declined in Workday.  

Watch the Workday Student video on PBSC’s Financial Aid TV channel to learn more. 

 

Loan Disbursement Requirements  

Before your loan funds can be disbursed, you will be required to complete the following:  

• Complete entrance counseling, a tool to ensure you understand your obligation to repay the loan   
• Sign a Master Promissory Note, agreeing to the terms of the loan  
• Complete the Annual Student Loan Acknowledgment for Federal Student Loans