Samford University students and families have access to a diverse portfolio of loan options. The most frequently used loan for undergraduates is the Federal Direct Student Loan. Federal Parent PLUS and private loans are also options that may be available to students. Students are notified in their award letter how to request loan funds. Instructions can also be found in the mySamford portal. 

Before you start the process of borrowing for education, Samford encourages you to research and take advantage of any and all available scholarship, grant, and work-study options. Compare all loan options for the best interest rates, lowest loan fees, and most extensive borrower benefits. 

The Federal Direct Loan Program starts with the Free Application for Federal Student Aid (FAFSA). A student must have a FAFSA submitted in order to be eligible for a Federal Direct Loan and/or a Parent PLUS Loan for undergraduates, or a Federal Direct Loan for graduate and professional students. Eligibility requirements, fees, interest rates, and other specifics differ with each of these loans. For more information, visit studentaid.gov.

Direct Student Loan

A student must submit a completed FAFSA to Samford in order to access funding through a Direct Student Loan. Direct Student loan amounts range from $5,500 per year for freshmen to $7,500 per year for seniors. Another $4,000 - $5,000 may be added if the student is deemed independent. FAFSA results will determine a student’s dependency status. 

There are two types of Direct Student Loans: Subsidized and Unsubsidized. Both loans have a six month grace period where repayment does not begin until six months after the student graduates or ceases to be enrolled at least half time. The Subsidized loan does not accrue any interest while the student is enrolled at least half time. This loan is awarded based on need as determined by the FAFSA. If you are borrowing a Subsidized Direct Student Loan, please review the information concerning maximum time frames for earning your degree and how that interacts with loan eligibility. 

The Direct Unsubsidized Loan is available to any student who files a FAFSA and is enrolled in at least six hours. This loan is not need-based and it requires the borrower to pay a quarterly interest payment. 

When you receive a Direct Student Loan for the first time, you must complete Entrance Counseling and a Master Promissory Note (MPN). The MPN is a legal document in which you promise to repay your loan and any accrued interest and fees to the US Department of Education. It also explains the terms and conditions of your loan. In most cases, one MPN can be used for Direct Student Loans that you receive over several years of study. First time borrowers may complete the MPN and Entrance Counseling requirements online at studentaid.gov. You will need a FAFSA ID to access this website. 

For additional information concerning Federal Direct Student Loans please visit the US Department of Education website. Students are notified in their aid notification letter as to how to request their loan funds. Instructions can also be found in the mySamford portal.

Direct Student Loan Tutorial

Parent PLUS Loan

The Parent Loan for Undergraduate Students (PLUS) is available to parents with acceptable credit and whose information was included on the student’s FAFSA. These loans are typically used to close the gap between net costs after all other aid has been paid to a student’s account and what a student and/or their family can pay out of pocket. The maximum amount available cannot exceed $20,000 per year and may be limited by the potential borrower’s credit rating. 

For additional information concerning the PLUS Loan, please visit the US Department of Education website on Parent PLUS Loans. Families are notified in their student’s aid notification letter as to how to request their loan funds. Instructions may also be found in the mySamford portal.

Parent PLUS Loan Application Parent Plus Loan Tutorial

Private Loans

Due to recent changes in Federal Student Aid programs implemented on July 1, 2026, Samford University has evaluated the private education loan programs made available to students. After a comprehensive review of national, regional, and local lenders, Samford has identified 11 financial institutions as preferred lenders. These lending institutions were selected by a committee within the Division of Enrollment Management.  

Objective criteria such as average APR, fixed interest rates, existence of origination and other fees, repayment options, length of repayment terms, and other benefits beyond typical standard terms, conditions, and/or provisions in loan borrowing were used in the review and selection process. This data was collected via Elm Select and front-facing websites hosted by the lenders themselves. The University selected for review lenders who historically had loaned to Samford students, local lenders, lenders familiar to the University, and preferred lenders at peer institutions. Samford will evaluate the preferred lender list at least annually prior to the start of a new academic year. 

Any student or family who desires to utilize a private education lender may choose any lender – preferred, historical, or otherwise – without any penalty or delay in processing by Samford University. Samford provides the preferred lender list as a service to our students and families in order for them to narrow and more efficiently consider the vast number of lenders in the market. You may utilize ELM, a neutral lender and product comparison tool, to compare current rates and features.  

Before selecting a private lender, Samford recommends that all federal aid options, including grants, work study, and loans, are researched and utilized in such a way that the student’s needs are met in the most effective and economically prudent way possible. The federal student aid process always begins with annual submission of the Free Application for Federal Student Aid (FAFSA). You can explore and learn about all federal aid options at studentaid.gov.   

Samford University abides by the Statement of Ethical Principles and Code of Conduct for Financial Aid Professionals adopted by the National Association of Student Financial Aid Administrators. All Samford students, including those receiving benefits through US Veterans Affairs or the US Department of Defense, are eligible for consideration to receive any Samford funded scholarships or grants, so long as application deadlines are met and awarding criteria are satisfied.

Private Loan Tutorial

Preferred Lender List

Below is a list of preferred lenders as determined by the criteria described above.  Samford University students have complete autonomy in the decision to use federal loans or private loans. If they choose to utilize a private loan, that autonomy extends to selecting their own lender. No student will be penalized or placed at a disadvantage for their selection of lender, even if the lender is not a Samford preferred lender. We highly recommend students and families who plan to use a private lender conduct extensive research and compare all rates, terms, and conditions.

Historical Lender List

Below is a list of lenders that Samford students have borrowed from in the past 3 years.

Additional Information