Undergraduate Financial Aid

Optional Student Loans

While Brown meets full demonstrated need without loans, Brown offers two types of loans to meet a student's unique needs to cover expenses.

Federal Student Loans

The Direct Loan program provides low-interest loans to qualifying students to assist with paying for educational expenses. Even if a student was not offered a federal student loan in the initial financial aid package, U.S. citizens and permanent residents may be eligible to borrow either a subsidized or unsubsidized Federal Direct Loan. To request the Direct loan(s), the student needs to log in to Banner Self-Service anytime after May 1st for the upcoming year, go to the Financial Aid Tab, and submit a Loan Request to the Office of Financial Aid. After the Financial Aid Office reviews the request, they will post a loan offer and the student would then log back in to accept (or decline) as needed. Detailed information about these loans, including maximum borrowing limits, is available on the Student Financial Service website. 

Please be aware that eligibility requirements are overseen by The Department of Education and any changes to policy may affect availability of these resources.

Brown Institutional Loans

The Direct Loan program is a federal loan taken in the student's name. Brown University institutional loans are need-based loans offered to students with high financial need and can be awarded to students who are ineligible for the federal loan program. For either federal or institutional loans, a student needs to be actively enrolled in the term that they are interested in applying for the loan. 

Applying for Brown Institutional Loans

Undergraduate students who wish to apply for loans will complete the loan request form on the "Resources/Additional Information" tab in Banner Self Service through their applicant portal. Processing deadlines do apply so it is also important that students inquire about loan eligibility as early in the term as possible.

You will need to complete a promissory note and entrance counseling in order to have these loans processed to your student account. The Loan Office sends emails directly to the student's Brown email account with instructions. Details concerning the various loan programs, along with applicable interest rates for the academic year are available on the Loan Office website.