University of South Florida

The USF Loan program is a need-based loan program funded by the University. The loan is interest free until repayment begins. The interest rate during repayment is 5%. Repayment begins nine months after graduation or less than half time enrollment. This loan program is not a federal loan and therefore cannot be consolidated with Federal Stafford or Federal Perkins Loans.

How do I get a USF Loan?
If you meet the priority application date (March 1), you are automatically considered for a USF Loan when you complete the Free Application for Federal Student Aid (FAFSA); however, if you are awarded a USF Loan, you must sign a promissory note with USF's Accounts Receivable in the division of the University Controller's Office, ADM 125 - (813)974-6029.  You must also complete an Exit Interview, which is administered through Accounts Receivable in the division of the University Controller's Office.

When do I pay it back?
If you're attending school at least half-time, you have nine months after you graduate, leave school, or drop below half-time status before you must begin repayment. 

USF Loan Exit Interviews are administered by Accounts Receivable  when you leave school. This interview reviews your rights and responsibilities regarding USF Loan Repayments.  Loan repayments will not be deferred unless you return to school.  There are no deferment provisions for unemployment, hardship, etc.  This loan can not be cancelled unless by death.  It does not offer the same cancellations as the Federal Perkins Loan.

Failure to attend a USF Loan Exit Interview will result in an administrative hold being placed on your academic records.