Loan Programs

Educational loans can come from the federal government or from private sources such as a bank or financial institution. A federal loan, made through the William D. Ford Federal Direct Loan Program, allows eligible students and parents to borrow directly from the U.S. Department of Education. These loans typically offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources.

Loan Information

How to Apply for a Federal Student Loan


    • Federal Direct Subsidized Loan: A loan based on financial need. The government typically pays the interest that accrues while in school.
    • Federal Direct Unsubsidized Loan: This is similar to the Subsidized Loan, but without the financial need requirement. Many students receive both. While the U.S. Department of Education pays the interest on a Subsidized Loan while you're in school, interest on the Direct Unsubsidized Loan will begin accruing from the date of disbursement and continues throughout the life of the loan.

To be eligible for any Federal Direct Loan (subsidized, unsubsidized, or a PLUS loan), a student must:


2024-25 Interest Rates & Fees

Loan Type Borrower Type Interest Rate Origination Fee - subject to change after 10/1/2024
Direct Sub & Unsubsidized Loans Undergraduate 6.53% 1.057%
Direct Unsubsidized Loans Graduate 8.08% 1.057%
Direct Parent & Grad PLUS Loans Parent/Graduate 9.08% 4.228%

For more information on how interest is calculated and about loan fees, visit the Federal Student Aid (FSA) website.



Student Loan Amounts

Annual Student Loan Amounts

Borrower's Academic Level Dependent Student
(Sub + Unsub = Yearly Limit)
Independent Student
(Sub + Unsub = Yearly Limit)

 1st Year Undergraduate Student
(0-29 earned credits)

$3,500 + $2,000 = $5,500 $3,500 + $6,000 = $9,500

2nd Year Undergraduate Student
(30 - 59 earned credits)

$4,500 + $2,000 = $6,500 $4,500 + $6,000 = $10,500
3rd Year Undergraduate Student
Bachelor's program only
(60 - 89 credits)
$5,500 + $2,000 = $7,500  $5,500 + $7,000 = $12,500
4th Year Undergraduate Student
Bachelor's program only
(90 or more credits)
$5,500 + $2,000 = $7,500 $5,500 + $7,000 = $12,500
Graduate/Professional Student Graduate students are
considered independent
$20,500 (unsubsidized only)

Aggregate Student Loan Limits

Borrower's Program Level Subsidized + Unsubsidized = Aggregate Limit
 Dependent Undergraduate $23,000 + $8,000 = $31,000
 Independent Undergraduate $23,000 + $34,500 = $57,500
 Graduate/Professional $138,500 (unsubsidized only)



Parent PLUS Loan

This is a federal loan based on credit history that allows the eligible applicant to borrow up to the student's cost of attendance less other financial aid.  Parent borrowers must re-apply each year.

To qualify to apply for a Direct PLUS loan, the borrower must be:

    • The biological or adoptive parent of the student or
    • The spouse of the parent and your income and assets were reported on the FAFSA or
    • A graduate or professional student

To apply, the parent borrow must submit the online Parent PLUS Loan application that performs a credit check. This is considered a 'hard hit' that will show on the applicant's credit report.

  • If credit is approved, the parent borrower will need to complete a Master Promissory Note (MPN). Unlike the PLUS loan application, the MPN typically only needs to be completed once. 
  • If credit is denied, the parent may still receive a Direct PLUS Loan through one of the options below.  
    • Obtain a credit-worthy endorser (co-signer)
    • Appeal the credit decision by submitting supporting documents if you have an extenuating credit history circumstance to the U.S. Department of Education.
  • If credit is denied and the parent does not wish to pursue obtaining a PLUS loan, the student may be eligible to increase their unsubsidized loan eligiblity based on the Independent Loan Limit (above). The student would need to contact SFS and give consent to borrow the additional loan.

If the parent can otherwise document their inability to either borrow or repay a Parent PLUS Loan, the parent may submit a Parent Loan Override Request in place of the PLUS Loan application.  If approved, the student may be eligible to borrow an additional unsubsidized loan based on the Independent Loan Limit (above). The student would need to give consent to borrow the additional loan.

Visit our Parent Loan Instructions page for step-by-step application instructions.


Loan Adjustment Requests

Student loan borrowers may adjust (increase or decrease) the amount they wish to borrow.  Below are several options:

    • If the subsidized or unsubsidized loan has not been accepted (or declined) in Bronco Web, the student may use the drop down option and select 'Reduce'.  Type in the lower amount that the student wishes to borrow and click 'submit'.  These amounts will typically be split equally between the fall and spring semester. Alternatively, the student may choose 'decline' to opt-out of borrowing any portion of that loan.  Follow our Federal Direct Student Loan Instructions webpage for step-by-step instructions.
    • If the subsidized or unsubsidized loan has already been accepted (or declined) in Bronco Web, the student may email SFS from their SUNY Delhi email account with specific instructions on which loan to adjust (subsidized and/or unsubsidized), which semester, and with an amount listed.  Alternatively, the student may visit SFS in-person to submit their request.
    • For adjustments to a Parent Plus Loan, the parent borrower must provide a detailed and signed statement with their request to adjust the loan.
    • If the loan has already disbursed, depending on the timing, the student may request by email to have the loan reduced.  If the student or parent,were issued a refund from the loan, a payment may be made directly to the assigned Loan Servicer once the loan has fully disbursed.



Typically, all federal loans must be applied for and processed before the semester ends, dropping below half-time (6 credits), or ceasing to no longer attend; whichever comes first. To avoid disqualification from borrowing, complete the steps to borrow a loan, including resolving any outstanding requirements, before each semester begins.

This deadline includes requests for a new loan or to increase an existing loan.


Private Student Loans

Unlike federal student loans, private loans are made by a bank and the terms of the loan are determined by the lending institution. Private loans are typically based on credit history and students typically are required to have a credit-worthy co-signer.

Things to consider!

    • Federal loans offer benefits such as fixed interest rates and several repayment plans that are not typically offered by private lending institutions.
    • Also, private loans can end up costing you more than a federal student loan.
    • Research and compare several banks before borrowing to find the best option for you.

Use FastChoice Private Lending for Higher Education to help you find a lender based on our history of student loan borrowers or you can explore other lending opportunities outside of this platform.

You can find and complete the Private Loan Self-Certification Form found on our forms page. 

SUNY Delhi does not participate in a Preferred Lender Arrangement or use a preferred lender list.


Office of Admissions

118 Bush Hall