Loans

ASU offers a variety of student loan programs to its students. Listed below are our loan programs. Should you have questions regarding any of these loan programs, please feel free to contact our office.

• Perkins Loan The Federal Perkins Loan is a low interest (5%) loan available to undergraduate students with high financial need. Augusta State serves as the lender for this loan. A portion of the loan is provided by the federal government with a share contributed by ASU. This loan must be repaid to the school. Presently, the maximum a student can borrow per semester at ASU in Federal Perkins monies is $1000.00. For more information on the Federal Perkins Loan, contact the FAO or go to The Student Guide website.
• Augusta Free School, ASU Leadership, Nancy Lackey Moses and SGA-Kiwanis Club Emergency Loans These are short-term loans for continuing students, available for the purposes of registration and purchasing books. For more information on any of these loans, please contact the FAO.
• Direct Loans Augusta State University participates in the Direct Loan program. Under this program, loan funds are provided to students by the Department of Education. These loans may be subsidized or unsubsidized. Once the initial financial aid application process has been completed, you may accept your loan via your ELROY account. You must sign your Master Promissory Note (at https://studentloans.gov) before any loan funds can be sent to ASU. For more information about Direct Loans, contact the FAO or visit The Student Guide website. All students who wish to apply for a Direct Loan MUST accept their loan via their ELROY account. For additional loan information, please check Federal Aid First's page on loans.
• PLUS Loans (Parent Loan for Undergraduate Students) are credit-based loans available for parents of dependent students. Review benefits and apply for a Direct PLUS Loan with the Department of Education at https://studentloans.gov.
• Alternative Loans are private loans made through lending institutions which allow students to borrow additional funds after they have reached their federal Direct Loan limit. These types of student loans are designed to help students meet the total cost of higher education. Research all possibilities for scholarships, grants, work study and federal loan programs before borrowing from an Alternative Loan program.
• Exit Counseling is required of all loan recipients prior to graduation. Be sure to read the Exit Counseling Guide for Federal Student Loan Borrowers.

If you are interested in pursuing an alternative loan, you can compare our preferred lenders' programs by clicking the logos below:

To complete your entrance/exit counseling online go to https://studentloans.gov

To assist you in determining how much in Direct Loan money to borrow and what your payments will be under different repayment plans, visit Federal Student Aid's Direct Loan Calculator page.

To view current yearly and aggregate federal loan limits, click here.