Please complete your FAFSA every year, between October 1 - February 1, to ensure you get the most financial aid available for the upcoming year.
The interest rates for Direct Subsidized, Direct Unsubsidized, and Direct PLUS loans will be established each year. Once a loan is established, it will apply for the life of the loan- that is, the loan will be a fixed-rate loan. As a result, it is likely that many borrowers will have a set of fixed-rate loans, each with a different interest rate.
*Please note that the current loan interest rates apply to those loans first disbursed on or after July 1, 2022, and before July 1, 2023.
|
Loan Type |
Interest Rate | Interest Rate Cap |
| Subsidized Stafford Direct Loan | 4.99% | 8.25% |
| Unsubsidized Stafford Direct Loan | 4.99% | 8.25% |
| Parent PLUS Direct Loan | 7.54% | 10.5% |
| Loan Type | Interest Rate | Interest Rate Cap |
| Unsubsidized Stafford Direct Loan | 6.54% | 9.50% |
| Graduate PLUS Direct Loan | 7.54% | 10.5% |
The Missouri Family Education Loan Program (MOFELP) is a private education loan program that is awarded on a first come, first served basis for eligible, qualified borrowers. Annual loan limits are $5,000 with a 0% interest rate. MOFELP has no additional costs; however, borrowers are responsible for a $5 monthly keep-in-touch payment. Below are the general criteria intended for qualified borrowers:
* MOFELP criteria may be subject to change.
On Monday July 1, 2019 the Department of Education announced the recension of all gainful employment regulations, as published in final rules, and authorized early implementation, at schools’ discretion. Although the rules are effective July 1, 2020, if the institution decides to implement the rescission early, and documents that decision, it no longer has to comply with the GE program regulations under 34 CFR 668, Subpart Q and Subpart R as of the date the institution makes that decision. MSSU has decided to comply with the early implementation guidelines and, as of July 1, 2019, will no longer be reporting on gainful employment.
