--- title: "Loans" url: "/admissions/financial-aid/loans-grants/loans" type: page date: 2026-05-22 updated: 2026-05-27 --- # Loans Office of Financial Aid Student Loans at Manhattan University **Borrow smart, borrow only what you need, and invest in a future with strong returns.** Supporting paragraph: Loans are one way most students finance a Manhattan University education, alongside scholarships, grants, and work programs. Whether you are a first-time borrower or a parent helping fund your student's degree, our financial aid counselors help you understand every option, compare interest rates, and make informed decisions. Manhattan University ranks among the nation's top schools for return on investment, meaning the value of your degree pays off long after the loans are repaid. Image on Right Image ![View of campus in the fall at Manhattan Univeristy](/sites/default/files/styles/4_3_327w/public/media/2026-01/2025-campus-outside-1920x1080.jpg?h=d1cb525d&itok=Q1UZ7cv-) [File Your FAFSA](https://studentaid.gov/h/apply-for-aid/fafsa) [Talk to a Financial Aid Counselor](/admissions/financial-aid/about/team) Explore Loan Options explore-loan Federal Subsidized Loans Federal Direct Subsidized Loans are need-based and reserved for undergraduate students. The government pays the interest while you are enrolled at least half-time, making this the most affordable federal loan option available. [Learn About Subsidized Loans](/admissions/financial-aid/loans-grants/loans/federal-subsidized) Unsubsidized Loans Federal Direct Unsubsidized Loans are available to undergraduate and graduate students regardless of need. Interest accrues from the date of disbursement, but the loan still offers favorable federal terms. [Learn About Unsubsidized Loans](/admissions/financial-aid/loans-grants/loans/federal-unsubsidized) Parent PLUS Loans Federal Direct PLUS Loans let parents of dependent undergraduates borrow up to the full cost of attendance minus other aid. New limits apply beginning July 1, 2026, with current borrowers grandfathered. [Learn About Parent PLUS](/admissions/financial-aid/loans-grants/loans/parent-plus-loans) Graduate PLUS Loans Federal Direct Graduate PLUS Loans support current graduate students through their existing programs. New graduate borrowers are no longer eligible for GradPLUS loans starting July 1, 2026. [Learn About Graduate PLUS](/admissions/financial-aid/loans-grants/loans/graduate) Private Loans Private education loans from banks and credit unions can bridge remaining gaps in funding. They should be considered only after federal options are exhausted since they typically carry higher interest rates. [Learn About Private Loans](/admissions/financial-aid/loans-grants/loans/private-loans) Federal Perkins Loans The Federal Perkins Loan program ended and is no longer a funding source. Manhattan University continues to service existing balances for borrowers who have an outstanding Perkins balance. [Manage Your Perkins Loan](/admissions/financial-aid/loans-grants/loans/perkins-loan) Loan Categories Choose Your Loan Type Manhattan University students access several types of loans depending on their academic level, financial need, and family situation. Federal loans typically offer the most favorable terms; private loans should be considered only after federal options have been exhausted. Intro above Cards Cards (border around each item) light 0 Step By Step Process step-by-step Step by Step: **Apply for a Federal Direct Loan.** Federal Direct Loans require three steps for first-time borrowers and one annual step for returning borrowers. All federal aid begins with the FAFSA. Step 1: File Your FAFSA Submit the Free Application for Federal Student Aid. Manhattan University's FAFSA school code is **002758**. Incoming freshmen should file no later than February 15. Step 2: Complete Entrance Counseling (First-Time Borrowers Only) Visit [studentaid.gov](https://studentaid.gov) and click on "Complete Entrance Counseling." This federal session walks you through the responsibilities of borrowing before your first loan disburses. Step 3: Sign Your Master Promissory Note (First-Time Borrowers Only) Complete a Direct Loan Master Promissory Note (MPN) at [studentaid.gov](https://studentaid.gov). Borrowers need their FSA ID to complete the MPN. If you do not have an FSA ID or cannot recall it, request one at [fsaid.ed.gov](https://fsaid.ed.gov). Step 4: Complete the Annual Student Loan Acknowledgment Direct loan borrowers must complete the Annual Student Loan Acknowledgment at studentaid.gov/asla each year. dark 0 Scholarships, Grants & Student Employment scholar-grant-student Image ![person sitting at a laptop filling out financial aid information](/sites/default/files/styles/4_3_327w/public/media/2026-05/computer-grants-aid-3000x2000.jpg?h=1cb48fc4&itok=r7xmJoR9) Scholarships Merit, talent, and institutional scholarships recognize academic excellence, athletic ability, performing arts, and other achievements. Most awards are determined automatically upon admission to Manhattan University. [/admissions/financial-aid/loans-grants/scholarships-and-grants#merit-scholarships](/admissions/financial-aid/loans-grants/scholarships-and-grants#merit-scholarships) Image ![the campus of Manhattan University in early summer](/sites/default/files/styles/4_3_327w/public/media/2026-05/summer.jpg?h=1ab77882&itok=iOgMy-TE) Grants Need-based institutional grants, federal Pell Grants, New York State TAP, and STEM Incentive awards reduce your out-of-pocket costs without the obligation of repayment after graduation. [/admissions/financial-aid/loans-grants/scholarships-and-grants#federal-grants](/admissions/financial-aid/loans-grants/scholarships-and-grants#federal-grants) Image ![Manhattan University students walking on campus](/sites/default/files/styles/4_3_327w/public/media/2026-04/students-walking-campus.JPG?h=c3635fa2&itok=TRITEXie) Student Employment With more than 75 work-study positions across all majors, on-campus employment lets you earn money toward your education while building professional skills before graduation from Manhattan. [/admissions/financial-aid/student-employment](/admissions/financial-aid/student-employment) Beyond Loans Explore Aid That Does Not Require Repayment Intro above Cards Loans are just one piece of the aid picture. Scholarships, grants, and student employment can significantly reduce the amount you need to borrow. We strongly encourage students to maximize these sources before taking on debt. Cards (border around each item) No white 0 Important Updates for 2026-2027 important-updates ## Important Update for 2026-2027 ### Recent Federal Student Loan Changes Federal student loan rules are changing beginning July 1, 2026. Several updates affect graduate students, parents, and current borrowers. Undergraduate borrowing limits and Pell Grants remain unchanged. ### Federal Direct Graduate PLUS Loans Are Being Phased Out Beginning July 1, 2026, new graduate and professional students will no longer be able to take out Federal Direct Graduate PLUS Loans. If you are currently enrolled and have already borrowed a GradPLUS Loan before that date, you can continue to access GradPLUS funds for up to three more years or until you finish your program, whichever comes first. This continuation applies only to your current program of study. If you start a new program after July 1, 2026, GradPLUS Loans will no longer be available for that program. **New Graduate Loan Limits** Also starting July 1, 2026: - Professional students (for example, those in medicine, law, or similar licensure-based programs) may borrow up to $50,000 per year, with a lifetime limit of $200,000 in federal Unsubsidized Loans. - Other graduate students may borrow up to $20,500 per year, with a lifetime limit of $100,000. Students already enrolled and using Unsubsidized or GradPLUS Loans in their current program will keep their current borrowing limits for up to three more years or until their program ends. **Parent PLUS Loan Changes** Parent PLUS Loans will be capped at $20,000 per student per year, with a $65,000 lifetime limit, beginning July 1, 2026. Parents who borrowed before that date can continue borrowing under the current limits for up to three additional years or until their student completes their program. white 1 Ready to Take the Next Step? Our financial aid counselors are here to help you understand your loan options, compare costs, and make informed decisions before signing any promissory note. Loans must be repaid, with interest, so we encourage every student and family to borrow only what is genuinely needed. [File Your FAFSA](https://studentaid.gov/h/apply-for-aid/fafsa) [Apply for a Federal Loan](/admissions/financial-aid/loans-grants/loans/federal-subsidized) [Talk to a Counselor](/admissions/financial-aid/about/team) Image ![campus quad outside the HR administrative building](/sites/default/files/styles/4_3_327w/public/media/2026-05/HR-quad.jpg?h=09c53b86&itok=QyRJouvU) landscape