Student Loans

For many students, borrowing loans to pay for college is the only option. The Office of Student Financial Assistance wants to make sure you borrow wisely and only what you need for college.

Any Direct Subsidized and Direct Unsubsidized loans will require you to accept those awards. You do not have to accept any or all of your Direct Loans. If you wish to reject your Direct Loans or accept a smaller amount you will need to complete a Federal Direct Loan Form in our office. Remember – loans are money you pay back.

Note: Starting with the 2026-2027 school year, the Department of Education requires that loan amounts be prorated for any enrollment less than 12 eligible credit hours. An eligible credit hour is one that is required for the degree or certificate you are pursuing at College of DuPage. If you are planning to drop a class, please contact the Office of Student Financial Assistance.

The total loan amount requested will be divided equally among the loan period requested and a one term loan will not be greater than 50% of the total annual limit.

Additionally, loan funds will be disbursed based on enrollment and eligibility at the time of disbursement and changes to enrollment prior to disbursement will affect current and future disbursements.

For the 2026-2027 Academic Year, the interest rate for Direct Subsidized and Unsubsidized loans is set at a fixed rate of 6.52%. For Parent PLUS Borrowers, the interest rate is set at a fixed rate of 9.07%. For more information regarding interest rates on the Federal Direct loans, visit Federal Student Aid.

Federal Direct Loans

Before you accept your Federal Direct Loans, keep the following things in mind:

1. Don't expect to live off your Federal Direct Loans. Federal Direct Loans are to be used for education related expenses first, such as tuition and book costs. Any remaining loan funds can then be used towards living expenses.
2. Do I need the full loan amount being awarded to me? Students are never required to accept their full Federal Direct Loan award. Students can reduce and/or decline their Federal Direct Loans. After all, this is money you will have to pay back.
3. What education related expenses do I still need covered?
4. Have I exhausted my options for grants, scholarships and/or work study?
5. Make sure you know what you owe.

To request a Federal Direct Subsidized and/or Unsubsidized Loans, you will need to complete the following steps:

• Log into inside.cod.edu and click on myACCESS for students > Financial Aid > Financial Aid-Self Service.
• Complete the Direct Loan Request Form.
  • If requesting a loan for Fall Semester 2026, Spring Semester 2027 and/or Summer Semester 2027, you will complete the 2026-2027 Direct Loan Request Form
  • Please note: A completed FAFSA must be on file before your Direct Loan Request Form will be reviewed.
• Complete Entrance Loan Counseling
• Complete Master Promissory Note

When requesting Federal Direct loans, keep the following things in mind:

1. Loans are an investment in your future! So when you don't attend your classes, keep in mind that you are borrowing money for classes you're not attending. Whether you finish the class or even your degree/certificate, you are still responsible for paying back that loan. Remember, loans are an investment in your future!
2. When do I have to start repaying the loans I accepted? After you graduate, leave school or drop below half-time enrollment of 6 credit hours, you will have a six-month grace period before you are required to begin repayment.
3. Have I accepted only what I need?

Financial Aid Tips

1. You do not need to accept your full Direct Loan award. You can reject your award or accept a portion of your award. Remember: This is money you will pay back!
2. You can prepay your loans at any time - without any penalty. You do not need to wait until you go into repayment to start paying back your loans!

Helpful Resources

• Federal Student Aid - Manage Loans: Track your total student loan debt and view your loan servicer information. Please Note: You will not be able to view any private loans borrowed.
• Federal Student Aid: Complete your Master Promissory Note (MPN), Entrance Loan Counseling, and Exit Loan Counseling.
• Federal Student Loans: Basics for Students

Cohort Loan Default Information

• Official Cohort Default Rate for Schools

*Disclosure: All Federal Direct Subsidized, Unsubsidized and PLUS Loan information will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.