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Perkins Loans are low-interest loans offered directly through Missouri Southern State University. This loan bears no interest until nine months after the student ceases their studies (at Missouri Southern or a transfer school). At the end of the student's nine month grace period, the loan begins to draw interest at the rate of five percent per year. Repayment of the loan may be as low as $50.00 per month and depending on the loan amount may be extended over as long as a ten-year period. These loans are recommended to students entering the teaching field, as a percentage of the loan may be written off for each year worked in an economically deprived area. Students applying for these loans must complete the Free Application for Federal Student Aid (FAFSA). The priority processing date is February 15, prior to the academic year. Loans Range from need to $5,000.00 per academic year or an aggregate total of $20,000.00.

Federal Direct Loan Program makes Stafford loans available to students directly through the Federal Government. These variable-rate, low-interest, long-term loans may be "Subsidized" or "Unsubsidized". For both types of loans, applicants must complete the electronic Free Application for Federal Student Aid (FAFSA). Loans vary by eligibility and academic year grade level. For more information consult the "Student Guide" on the Department of Education Web Site at: Student Guide or contact the Financial Aid Office at Missouri Southern.

Beginning with the Fall 2010 semester MSSU will adhere to the following policy:

Federal Regulations require a 30 day hold on Federal Stafford Loans disbursements to freshman, first-time borrowers. Students should be prepared to cover all non-direct costs until loan funds are released to the school.

Subsidized loans are available to students who demonstrate financial need. The range of these loans is based upon the number of hours completed. See the table below for more information.

Completed Hours	Loan Range (per academic year)
0-29 hrs	up to $3500.00
30-59 hrs	up to $4500.00
60-89 hrs	up to $5500.00
90+ hrs	up to $5500.00
* aggregate total of $23,000.00

Direct Stafford unsubsidized loans are awarded regardless of need. Interest comes due within 60 days after receiving the loan, however, interest may be deferred until the student leaves school. These loan amounts will vary depending upon how much aid the student is already receiving and whether a student is considered dependent or independent.

Federal Direct PLUS Loan Program offers loans to parents of students directly from the Federal Government. These variable-rate, low-interest, long-term loans are unsubsidized. Interest becomes due 60 days after the parent receives the loans. The interest can be deferred until the student leaves school. Applicants must complete the electronic Free Application for Federal Student Aid (FAFSA). Loan amounts may vary depending on the cost of education and other financial aid the student receives. For more information consult the "Student Guide" on the Department of Education Web Site at: Student Guide or contact the Financial Aid Office at Missouri Southern.