The William D. Ford Federal Direct Loan Program offers low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education (the Department), though the entity you deal with, your loan servicer, can be a private business.

Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest, just like car loans and home mortgages. You cannot have these loans canceled because you didn't like the education you received, didn't get a job in your field of study or because you're having financial difficulty. Loans are legal obligations, so before you take out a student loan, think about the amount you'll have to repay over the years and review your borrower rights and responsibilities.

With Direct Loans, you

  • Borrow directly from the federal government and have a single contact—your loan servicer—for everything related to repayment, even if you receive Direct Loans at different schools.
  • Have online access to your Direct Loan account information via your servicer's website.
  • Can choose from several repayment plans that are designed to meet the needs of almost any borrower, and you can switch repayment plans if your needs change.

Students at ENMU Roswell must submit a student loan request form to the Financial Aid Office before a student loan will be offered. Previous loan borrowers must attach a copy of his/her student loan detail report that shows students total loan amounts. Students may go to and click on Financial Aid Review to obtain and print this information.

Entrance and Exit Counseling 

All Student loan borrowers are required to complete an Entrance counseling session before loans funds are disbursed and an Exit counseling session at any time students cease to be enrolled in at least a half time status. The sessions inform students of borrower rights and responsibilities.

Entrance Counseling

The purpose of entrance counseling is to ensure you understand the terms and conditions of your loan prior to your loan disbursing. More information about entrance counseling can be found in the Entrance Counseling Guide for Direct Loan Borrowers.

Exit Counseling

The federal government requires that you complete a student loan exit counseling session prior to graduating or stop attending at least half-time. The purpose of the session is to help you understand your rights and responsibilities as a student loan borrower and help you setup repayment plans and contact information after you leave school.  If you do not complete exit counseling, your lender(s) will assign a repayment option to you.

Exit counseling can be completed online through the National Student Loan Data System (NSLDS) and selecting the exit counseling link in the middle of the page.  Your complete federal student loan history is also available through NSLDS



Who may be eligible for this loan?

Students enrolled at least half time in an eligible program of study, who:

  • are U.S. citizens or eligible noncitizens
  • are not in default on any federal educational loans
  • have not already borrowed more than the aggregate federal direct loan limit for their program.

Types of Federal Direct loans?

  • Direct Subsidized Loan - This loan is for students with financial need as determined by the FAFSA.  Students receiving a federal subsidized loan are not charged interest on this loan amount while they are in school or in grace and deferment periods.
  • Direct Unsubsidized loan - All eligible students can borrow an unsubsidized loan, regardless of financial need.  This loan type does accrue interest while the student is in school, as well as in grace and deferment periods.

How do I apply?

How much can I borrow?


Loan amount is determined by your program of study, year in college, and financial need.

Dependent Undergraduate Students

Annual loan limits:

  • $5,500 (Freshmen)(No more than $3,500 of this amount may be subsidized)
  • $6,500 (Sophomore) (No more than $4,500 of this amount may be subsidized)

Aggregate loan limit:$31,000 (No more than $23,000 of this amount  may be subsidized)


Independent Undergraduate Students

Annual loan limits:

  • $9,500 (Freshmen)(No more than $3,500 of this amount may be       subsidized)
  • $10,500 (Sophomore) (No more than $4,500 of this amount may be subsidized)


Aggregate loan limit: $57,500 (No more than $23,000 of this amount may be subsidized)

Is the FAFSA required?

Yes, the student must submit the FAFSA in order to receive these loans.

Is a credit check required?

No, the student is eligible for these loan types if they are otherwise eligible for aid and are enrolled at least half-time..

Current Interest Ra

Interest rates: Direct Subsidized Loans for undergraduates with a first disbursement date between July 1, 2011, and June 30, 2012: 3.4%

Direct Subsidized Loans for graduate students and Direct Unsubsidized Loans for all students: 6.8%

Direct PLUS Loans: 7.9%

(Interest accrues during all periods for the Federal Unsubsidized loan (in-school, forbearance, and repayment) beginning on the first date of disbursement.  Interest does not accrue for the Federal Subsidized loan until repayment begins.

For more about interest rates go to

Current Origination Fee


Repayment Information

After the student graduates, leaves school, or drops below half-time enrollment they will have a 6 month grace period before repayment begins.  After the grace period ends, the student will begin making monthly payments to the loan servicer.  There are different repayment plans for your federal loans, and you may choose one that best fits your income.  You may be able to estimate your monthly payment amounts using a Loan Repayment Calculator

Contact Information

For more information on the Federal Parent PLUS loan, please visit the Department of Education website, or contact Student Financial Aid 575-624-7400.  To view your complete federal loan history, please visit the National Student Loan Database (NSLDS)