Student loans are funds provided to an undergraduate or graduate student for educational expenses and are considered self-help financial aid because you must repay the money loaned to you.
Use a loan payment calculator to investigate how much your monthly payment may be before you decide to borrow loans.
UNO students are eligible for the loans listed below. The information on this page is periodically reviewed and updated to reflect current federal rates and requirements and is subject to change without prior notice. Please visit Federal Student Aid on the Web for up-to-date information and a comprehensive list of federal student loan information.
Financial aid changes from the One Big Beautiful Bill Act
Types of Federal Student Loans
Direct Subsidized Loan
Direct Unsubsidized Loan
Direct Parent PLUS Loan
Direct Graduate PLUS Loan
Loan Limits and Borrower Obligations
Federal Direct Loan Limits
Master Promissory Note
Loan Entrance Counseling
Loan Exit Counseling
One Big Beautiful Bill Act
The One Big Beautiful Bill Act (OBBB), passed by Congress on July 3, 2025 and signed into law on July 4, 2025, contained several provisions impacting federal student loans. These updates are highlighted below. Additional details will be added to this site in the coming months. Unless otherwise noted, these changes will be effective July 1, 2026.
- Undergraduate
- Undergraduate students may be eligible for up to $20,000 per year in Parent PLUS Loans, with a $65,000 aggregate limit. Students who previously received a Parent PLUS Loan may be eligible to continue borrowing under current limits for up to three academic years or the remainder of their program, whichever is less.
- Graduate
- Graduate PLUS Loans have been eliminated for new borrowers. Legacy Provision: Students who have already borrowed from the Graduate PLUS program before the changes take effect in July of next year will still have access to their loans for up to three academic years or the remainder of their program, whichever is less.
- Graduate students may be eligible for up to $20,500 per year in Direct Unsubsidized Loans, with an aggregate limit of $100,000. Legacy Provision:
- Existing borrowers may be eligible to continue borrowing under current limits for up to three academic years or the remainder of their program, whichever is less.
- Proration
- Annual loan amounts must be prorated for students enrolled in a less-than-half-time status. An effective date for this provision has not yet been determined.
- Lifetime Loan limits
- Sets the lifetime borrowing limit on all federal student loans, excluding Parent PLUS Loans received as a student, to $257,500 ($57,500 as an undergraduate student).
- Loan repayment options
- Several changes were made to loan repayment options, including the creation of a new standard repayment plan and a new income-based repayment plan (RAP). Several existing plans will be eliminated on July 1, 2028.
If you’ll be in college or grad school in 2026 or later, these changes will affect how much you can borrow, how you repay, and in some cases, whether your program qualifies for aid. Parents of future students should pay close attention to the new loan caps and repayment rules.
Types of Federal Student Loans
DIRECT SUBSIDIZED LOAN
- Federal Direct Subsidized Loans are loans for undergraduate students with financial need.
- Generally, students must be admitted into an undergraduate degree-seeking program and enrolled on at least a half-time basis (six (6) credit hours).
- Exceptions to the degree seeking requirement may apply for students in a teacher certification program or if preparatory coursework is required in order to be accepted into a degree granting program.
- The U.S. Department of Education pays the interest on a Federal Direct Subsidized Loan:
- while you are in school at least half-time,
- for the first six months after you leave school (referred to as a grace period),
- and during a period of deferment (a postponement of loan payments.
- Find information about these loans, including borrowing limits and interest rates, on the U.S. Department of Education website.
DIRECT UNSUBSIDIZED LOAN
- Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need.
- The school determines the amount you can borrow based on your cost of attendance and the other financial aid you receive
- Generally, students must be admitted into a degree-seeking program and enrolled on at least a half-time basis. Half-time is defined as six (6) credit hours per semester for undergraduate students, and five (5) credit hours per semester for graduate students.
- Exceptions to the degree seeking requirement may apply for students in a teacher certification program or if preparatory coursework is required in order to be accepted into a degree granting program.
- You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods.
- Find information about these loans, including borrowing limits and interest rates, on the U.S. Department of Education website.
DIRECT PARENT PLUS LOAN
- Significant changes to federal student loans were recently enacted through the One Big Beautiful Bill Act. These changes will affect the amount a parent can take out annually and aggregate loan limit beginning on July 1, 2026.
- Federal PLUS loans allow one parent with good credit and no federal student loans in default to borrow funds toward a dependent’s educational expenses.
- The dependent must be a degree-seeking undergraduate student enrolled in at least six credit hours.
- The maximum amount a parent may borrow is the student’s cost of attendance, as determined by UNO, minus any other financial aid received by the student. The Net Price Calculator can help calculate anticipated expenses and a specific amount to request.
- If a parent is denied a PLUS loan:
- they may appeal the decision,
- reapply with an endorser,
- request additional unsubsidized federal loans up to $5,000 dependent on academic level or up to cost of attendance.
- Find out more information about interest rates, origination fees, repayment plans.
- To apply, students’ parent must go to studentaid.gov and log in with their FSA ID used for the FAFSA.
- Borrowers must complete the Direct Plus Loan Master promissory Note.
Direct Graduate PLUS LOAN
- Significant changes to federal student loans were recently enacted through the One Big Beautiful Bill Act. These changes will affect how graduate and professional students finance their education beginning on July 1, 2026.
- Graduate plus loans will not be available for new borrowers
- Direct PLUS Loans are loans made to students to help pay for education expenses not covered by other financial aid.
- The graduate student must have borrowed their annual (or aggregate) maximum of the Federal Direct Unsubsidized Loan before they can borrow the Grad PLUS loan.
- The student must first accept the Grad PLUS Loan Option from their financial aid offer in MavLINK before completing and uploading the Grad PLUS Authorization form. The Grad PLUS Authorization form is accessed from To-do List in MavLINK.
- Find information about these loans, including interest rates and fees, on the U.S. Department of Education website.
Loan Limits and Borrower Obligations
FEDERAL DIRECT LOAN LIMITS
| YEAR | DEPENDENT UNDERGRADUATE STUDENT | INDEPENDENT UNDERGRADUATE STUDENT* | GRADUATE OR PROFESSIONAL STUDENT |
|---|---|---|---|
| 1st Year/Freshmen (0-26 credits) | $5,500 - No more than $3,500 of this amount may be in subsidized loans | $9,500 - No more than $3,500 of this amount may be in subsidized loans | $20,500 - subsidized loans are no longer awarded to graduate students |
| 2nd Year/Sophomore (27-57 credits) | $6,500 - No more than $4,500 of this amount may be in subsidized loans | $10,500 - No more than $4,500 of this amount may be in subsidized loans | $20,500 - subsidized loans are no longer awarded to graduate students |
| 3rd Year/Junior or 4th Year/Senior (58+ credits) | $7,500 - No more than $5,500 of this amount may be in subsidized loans | $12,500 - No more than $5,500 of this amount may be in subsidized loans | $20,500 - subsidized loans are no longer awarded to graduate students |
| Maximum Total Debt from Federal Direct Loans When You Graduate (Aggregate Loan Limits) | $31,000 - No more than $23,000 of this amount may be in subsidized loans | $57,500 - No more than $23,000 of this amount may be in subsidized loans | $138,500 - subsidized loans are no longer awarded to graduate students |
| *Also applies to dependent undergraduate students whose parent was denied a PLUS loan or post-baccalaureate students. |
MASTER PROMISSORY NOTE
The Office of Financial Support and Scholarships must have a record that you have completed a Master Promissory Note (MPN) for each type of loan you accepted before we are able to disburse loan funds.
It can take up to one week for our office to receive notification that you have completed your MPN.
What is an MPN?
An MPN, or Master Promissory Note, is a promissory note that does not specify the amount you must repay. When you sign a MPN, you are agreeing to repay all loans awarded under that MPN. In some cases this means multiple loans over multiple academic years.
How Do I Complete an MPN?
You can use the links below to complete your MPN requirement. If you have any questions contact of the Office of Financial Support and Scholarships at 402.554.2327.
| Loan Program | How to Complete a Master Promissory Note |
|---|---|
| Federal Direct Subsidized and Unsubsidized Loans | To begin a Federal Direct Subsidized/Unsubsidized Loan MPN, sign in at StudentAid.gov. |
| Federal Direct Parent PLUS Loans | To begin a Federal Direct PLUS Loan MPN, the parent borrower needs to visit StudentAid.gov and sign in. If your parent previously borrowed a Federal Direct Parent PLUS Loan at UNO for you, he or she does not need to complete another MPN unless a financial endorser was required at the time of application. If an endorser was required your parent must complete another MPN. |
| Federal Direct PLUS Loans for Graduate and Professional Students | To begin your Federal Direct Graduate PLUS Loan MPN, sign in at StudentAid.gov. If you previously borrowed a Federal Direct PLUS Loan at UNO, you do not need to complete another MPN unless a financial endorser was required at the time of application. If an endorser was required you must complete another MPN. |
LOAN ENTRANCE COUNSELING
Use the links below to complete your counseling requirements. If you have questions contact the Office of Financial Support and Scholarships at 402.554.2327.
If you are a first-time UNO borrower of a federal student loan, you must complete a Loan Entrance Counseling before the Office of Financial Support and Scholarships can release your loan proceeds. This online counseling session will help to ensure that you understand the responsibility and obligation you are assuming when borrowing this type of student loan. Each online session will take approximately 30 minutes to complete.
| Loan Program | How to Complete a Loan Entrance Counseling |
|---|---|
| Federal Direct Subsidized and Unsubsidized Loans | In order to begin your Federal Direct Loan Entrance Counseling, sign in at StudentAid.gov. |
| Federal Direct Parent PLUS Loans | Entrance counseling is not required for this type of loan. |
| Federal Direct PLUS Loans for Graduate and Professional Students | If you have already completed an entrance counseling session for a Federal Direct Unsubsidized Loan as a Graduate Student, you do not need to complete one for your Federal Direct PLUS Loan, otherwise sign in at StudentAid.gov. |
LOAN EXIT COUNSELING
Students who are scheduled to graduate, who have dropped below half-time enrollment, or who have not returned to UNO are required to complete Loan Exit Counseling.
Loan Exit Counseling provides you with deferment, forbearance, and consolidation information if you decide to return to school or if you are unable to make your payments for any reason.
| Loan Program | How to Complete a Loan Exit Counseling |
|---|---|
| Federal Direct Subsidized and Unsubsidized Loans | Visit StudentAid.gov to begin your Federal Direct Loan exit counseling. |
| Federal Direct Parent PLUS Loans | Exit counseling is not required for this type of loan. |
| Federal Direct PLUS Loans for Graduate and Professional Students | Visit StudentAid.gov to begin your Federal Direct Graduate PLUS loan exit counseling. |
| Federal Perkins Loans | Click to begin your Federal Perkins Loan exit counseling. If you have questions please contact the Perkins Loan Office at 402.554.2657 or unoperkinsloan@unomaha.edu. |