Federal Student Loan


Borrowing a Direct Student Loan

After student submits FAFSA and completes any additional federal requirements, the Office of Financial Aid will automatically award the student the maximum amount of student loans eligible. This award can be seen in CofC MyPortal. Students that have not borrowed from Direct Loans before must complete Entrance Counseling and a Federal Direct Loan Electronic Master Promissory Note (MPN) before loan money can be disbursed. .

What’s the difference between Federal Subsidized and Unsubsidized Loans?

In short, Subsidized Loans have slightly better terms to help out students with financial need.  Here’s a quick overview of Subsidized Loans:

  • Subsidized Loans are available to undergraduate students with financial need.
  • The U.S. Department of Education pays the interest on a Subsidized Loan
    • while you’re 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).
  • For more information see What’s the difference between Federal Subsidized Unsubsidized Loans?

Entrance Counseling

The federal government requires a student to participate in loan counseling prior to receiving a Federal Student Loan. Entrance Counseling can be completed at https://studentaid.gov. After the student completes Entrance Counseling the results will be sent electronically to the College of Charleston and the student's account should be updated in MyCharleston within 5 business days.

Exit Counseling

If you received a Federal Direct Student Loan at CofC you must complete the Federal Direct Student Loan Exit Counseling. During Exit Counseling you will learn about repayment, deferment, and forbearance. The exit counseling will also review different repayment plans, direct withdrawal, and a payment date.  If you have questions visit https://studentaid.gov.

If you received a Perkins Loan at CofC, you must complete Perkins loan counseling prior to leaving or graduating from CofC.  Please contact the Treasurer's Office at Treasurer@cofc.edu or 843.953.5572 if you encounter any problems.


Learn about how, when, and to whom you make your federal loan payments.  You are responsible for staying in touch with your loan servicer and making your payments, even if you do not receive a bill. Find out more about repayment of your federal student loans.  For other repayment resources see CofC Repayment and Consolidation.

Additional Information