US Direct Loans
William D. Ford Federal Direct Loan Program is the federal student loan program under which eligible students and parents borrow directly from the U.S. Department of Education at participating schools and enrolled in eligible programs.
Verify carefully in the Focus on area relevant instructions about the Direct Loans application process through Bocconi.
There are different types of Direct Loans:
Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial needto help cover the costs of higher education at a college or career school.
Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.
- Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.
- > be a U.S. citizen or an eligible noncitizen;
- > have a valid Social Security number;
- > be registered with Selective Service, if you’re a male (you must register between the ages of 18 and 25);
- > be enrolled or accepted for enrollment as a regular student in an eligible program;
- > maintain satisfactory academic progress;
Basic eligibility criteria are available at the following webpage.
If you will be studying in the United States for any part of your course, you will not be able to receive US Federal Loans through Bocconi.
How much can you borrow?
The maximum amount of money that can be borrowed in Federal Student loans depends on:
How do you apply for a Federal Direct Loan through Bocconi?
To apply for a federal student loan, you must first complete and submit a Free Application for Federal Student Aid (FAFSA®) form.
Further details on the procedure to be followed in order to notify the Fees Funding and Housing Office about our FAFSA application will be soon made available here.
How will you receive your loan?
The school will first apply your loan funds to your tuition, fees and, if you live on campus, room. If any additional loan funds remain, they will be returned to you via bank transfer to an Italian bank account.
Generally, your loan will cover a full academic year and your school will disburse your money in two payments, called disbursements. The first one approximately by the end of October and the second one by the end of March (with the exception of MAFED, MFB and MaGER courses: specific deadlines are in February and May).
You must remain enrolled and inform the Fees, Funding and Housing Office of any changes to your enrollment status as this directly affects your loan entitlement. Each subsequent disbursement is also subject to maintaining Satisfactory Academic Progress (SAP).
When do you begin repaying your Federal Student Loan?
It is the student's responsibility to repay the loan. Exit counselling will provide more details and you can find here more information.
Exit counseling provides important information to prepare you to repay your federal student loan(s).
- Drop below half-time enrollment
- Leave school