University of Redlands
Loans are monies that need to be paid back within a certain time frame and accrue interest. Your financial aid offer letter may include federal direct loans and/or Redlands loans. Additional loans, such as Federal Direct Parent PLUS loans and alternative loans are not included in financial aid offers. These are separate options available to students if additional funding is needed to pay their balance. You can read more about these options here.
It is important to review and understand all requirements of loans.
Federal Direct Loans are either subsidized or unsubsidized. A subsidized loan is awarded on the basis of financial need. If the student is eligible for a subsidized loan, the government will pay (subsidize) the interest on the loan while the student is enrolled at least half-time during school and during the grace period (six months after the student graduates or falls below half-time attendance). Unsubsidized loans accrue interest during school. The student is not required to but may make payments on the interest portion of the unsubsidized loan. Depending on financial need and class level, students may receive a subsidized or unsubsidized loan, or a combination of both.
Subsidized loans
Awarded on the basis of financial need. If the student is eligible for a subsidized loan, the government will pay (subsidize) the interest on the loan while the student is enrolled at least half-time during school and during the grace period (six months after the student graduates or falls below half-time attendance).
| Academic Standing | Maximum Yearly Limit - Subsidized |
| First Year | $3,500 |
| Sophomore | $4,500 |
| Junior, Senior, 5th year undergraduate*** | $5,500 |
***Teaching Credential is considered a 5th year undergraduate program.
Unsubsidized loans
Accrue interest during school. The student is not required to but may make payments on the interest portion of the unsubsidized loan.
| Academic Standing | Maximum Yearly Limit - Unsubsidized |
| First Year | $2,000 to $4,000* |
| Sophomore | $2,000 to $4,000* |
| Junior, Senior, 5th year undergraduate*** | $2,000 to $5,000* |
*$2,000 Unsubsidized Direct Loan available to all loan recipients. Additional Unsubsidized loans are available to independent students as well as dependent students whose parent is unable to borrow through the Federal Direct Parent PLUS Loan program due to adverse credit history.
***Teaching Credential is considered a 5th year undergraduate program.
Depending on financial need and class level, students may receive a subsidized or unsubsidized loan, or a combination of both.
Repayment on Direct Loans begin six months after you graduate, leave the University of Redlands, or drop below half-time. Interest rates vary year to year.
Undergraduate Student Interest Rate and Origination Fee
(Loans disbursed July 1, 2022 to June 30, 2023)
Subsidized Loan fixed interest rate: 5.50%
Unsubsidized Loan fixed interest rate: 5.50%
Loan origination fee: 1.057%
For more information on the Federal Direct Loan Program, please visit their website.
Accepting the Federal Direct Loan
If you choose to accept the Federal Direct Loan in your financial aid award, you must complete the Entrance Counseling and Federal Direct Loan Master Promissory Note (MPN) at studentaid.gov.
*Please Note: When arriving at the Federal Student Aid website, you will be prompted to login with your FSA ID Username and Password. The FSA ID has replaced what was previously the PIN number and you will need to create an FSA ID if you have not done so already.
Entrance Counseling is designed to help you better understand the terms and conditions of the Federal Direct Loan you are borrowing, as well as your rights and responsibilities before you borrow money from the Federal government.
The Federal Direct Loan Master Promissory Note is the document that makes you legally responsible for repaying your Federal Direct Loans. *Please note: when prompted to select the loan you would like to receive, select "Subsidized/Unsubsidized."
Federal regulations require that both of these documents be completed prior to the disbursal of the Federal Direct Loans. Both of these documents are completed online at studentaid.gov and are good for up to 10 years. Returning students who have previous loans through the Federal Direct Loan program do not need to complete a new Entrance Counseling or MPN for the Federal Direct Loan program.
For more information on the Federal Direct Loan Program, please visit their website.
Exit Counseling, Repayment and Servicing
You will also be required to complete Loan Exit Counseling upon graduating or upon leaving the University of Redlands. This process is crucial and will provide you with important information in regards to repaying your loan.
You will begin repayment on your Direct Loans six months after you graduate, leave the University of Redlands, or drop below half-time. The Federal Direct Loan program offers options to students who need help with repayment of Federal Direct Loans including consolidation, deferment, forbearance, and income-sensitive repayment.
To view information regarding your Federal loan debt, please access the studentaid.gov.
The Redlands Loan is designed to help meet the financial needs of University of Redlands' undergraduate students and is packaged according to the University's packaging policy for the current financial aid year. Funding is limited.
Repayment of the Redlands Loan begins 6 months after a student graduates, withdraws from school, or drops below half-time enrollment. The interest rate for this loan is fixed at 5%. The loan may be repaid over a period of 10 years. The amount of the installment payment will depend upon the size of the loan debt, but the minimum monthly payment is $50.
If a student is awarded a Redlands Loan, an e-mail explaining the steps to accept the loan will be sent to their University of Redlands e-mail address from UNISA. First-time borrowers will receive three separate emails; one for each required step. Previous Redlands Loan borrowers will receive one email from UNISA.
Accepting the Redlands Loan
If this is your first time accepting the Redlands Loan in your financial aid award, you must complete all of the following: Entrance Interview, Truth-in-Lending Act Disclosure (TILA), and Master Promissory Note (MPN). You will receive a separate email from UNISA to complete each of these required steps.
The Entrance Interview is designed to help you better understand the terms and conditions of the Redlands Loan you are borrowing, as well as your rights and responsibilities before you borrow money. Please follow the instructions below to complete your Entrance Interview.
The Truth-in-Lending Act Disclosure (TILA) is designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed. If you have borrowed a Redlands Loan before, you are only required to complete the Truth in Lending Act disclosures. *Please note that the TILA must be completed before you are eligible to sign the MPN and the TILA must be completed on a yearly basis. The TILA document will be sent to you from UNISA Inc.
The Master Promissory Note (MPN) is the document that makes you legally responsible for repaying your Redlands Loan.
Exit Interview
University policy requires that you complete an Exit Interview upon graduating or separating from the university. This process is crucial and will provide you with important information in regards to repaying your loan.
We will receive confirmation once these processes have been completed.
Beginning November 1st 2017, the University of Redlands has transitioned loan servicing from ACS (Conduent) to UNISA Inc. You can get more information about your loan by visiting their website at www.unisainc.com or by calling (800) 875-8910.
*The Federal Perkins Loan program is no longer offered to new borrowers at the University of Redlands.
The Federal Perkins Loan Program is a revolving loan fund maintained by the institution to provide long-term loans to students who demonstrate financial need. This loan is repayable with interest to the institution. Funding is limited. Repayment of the Perkins Loan begins 9 months after a student graduates, withdraws from school, or drops below half-time enrollment. The interest rate for this loan is fixed at 5%. The loan may be repaid over a period of 10 years. The amount of the installment payment will depend upon the size of the loan debt, but the minimum monthly payment is $40. If a student is awarded a Perkins Loan for the first time, an e-mail explaining the steps to accept the loan will be sent to their University of Redlands e-mail address.
Exit Interview
Federal regulations require that you complete an Exit Interview upon graduating or separating from the university. This process is crucial and provides important information in regards to repaying your Federal Perkins Loan.
We will receive confirmation once these processes have been completed.
Annual Cumulative Borrowed Notification
Please click here to view your Perkins Loan annual cumulative borrowed statement.
Beginning November 1st 2017, the University of Redlands has transitioned loan servicing from ACS (Conduent) to UNISA Inc. You can get more information about your loan by visiting their website at www.unisainc.com or by calling (800) 875-8910.
