Ibrahim Gardner
San Francisco State University (SFSU) offers a range of financial aid options for students, including grants, scholarships, work-study programs, and loans. The Office of Student Financial Aid (OSFA) is responsible for administering and supporting students throughout the financial aid process, including federal and state aid and scholarship awards. Students can apply for financial aid through the Free Application for Federal Student Aid (FAFSA) or the California Dream Act Application (CADAA). SFSU also provides information on external scholarships and work-study opportunities. Federal Direct Loans, Graduate PLUS Loans, and Parent PLUS Loans are available for eligible students, with repayment plans and loan consolidation options to consider. Students can track their financial aid disbursements and manage their loan repayments through the SF State Gateway.
| Characteristics | Values |
|---|---|
| Student loan repayment options | Students should evaluate their repayment plan options. They can visit Federal Student Aid's (FSA) Loan simulator to explore repayment plans. They may also consider loan consolidation. Students facing financial challenges should explore Income-Driven Repayment (IDR) plans, including the new Saving on a Valuable Education (SAVE) IDR plan, which offers affordable monthly payments. |
| Federal Direct Loans | Funds borrowed from the U.S. Department of Education. Repayment begins six months after graduation or ceasing half-time enrollment. |
| Parent PLUS Loans | Funds borrowed from the U.S. Department of Education for parents or step-parents of dependent undergraduate students. |
| Graduate PLUS Loans | Funds borrowed from the U.S. Department of Education for graduate students enrolled in a Master's or graduate program. |
| Alternative Loans | Offered by banks or lending institutions outside SF State to assist with college costs beyond traditional funding sources. |
| Financial aid disbursement | The Office of Student Financial Aid disburses financial aid awards towards current charges for the Fall and Spring semesters. Students can track disbursements through their Account Activity in the Student Center. |
| Third-party payments | Third-party payments, scholarships, and out-of-pocket payments are posted in the Student Center. |
| Refunds | Refunds are sent to students if there is leftover funding after financial aid disbursement. Students with unpaid charges in their account may not receive a refund. |
| Work-Study Program | The Federal Work-Study Program provides on-campus employment opportunities for students with financial need. Students work a maximum of 20 hours per week, earning at least minimum wage. |
| William D. Ford Federal Direct Student Loan Program (FDSL) | Offers subsidized loans for undergraduate students with financial need and unsubsidized loans for undergraduate and graduate students with limited or no financial need. |
| Returning financial aid | Students have the right to cancel or return a portion of their student loan(s) within 120 days from the disbursement date to avoid certain fees. |
| Grants and scholarships | Disbursements for grants and scholarships for late-starting classes will be issued approximately one week after the first date of attendance. |
| Financial aid application | Students must complete either a FAFSA or CADAA application for the 2025-2026 academic year to be considered for financial aid. |
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What You'll Learn
Federal Direct Loans
Subsidized Loans are only available for undergraduate students. The US Department of Education does not charge interest on these loans prior to repayment. The DOE will pay the interest while the student is enrolled for at least half-time (6 units for undergraduates or credential students/4 units for graduate students). There is a six-month grace period after graduating or withdrawing from classes (except for loans disbursed between July 1, 2012, and July 1, 2014).
Unsubsidized Loans are charged interest by the DOE from the day the funds are disbursed until the loan is repaid in full.
Students should evaluate their repayment plan options. If they anticipate needing a lower payment, they can visit Federal Student Aid's (FSA) Loan simulator to explore repayment plans that align with their needs and goals. Additionally, they may consider loan consolidation after carefully weighing the pros and cons. Students facing financial challenges should explore Income-Driven Repayment (IDR) plans, which can potentially lower their monthly payments to as low as $0, depending on their circumstances. New this year is the Saving on a Valuable Education (SAVE) IDR plan, which will provide student loan borrowers with a highly affordable repayment plan. The SAVE plan will halve payments on undergraduate loans compared to other IDR plans and protect more of a borrower’s income for basic needs.
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Parent PLUS Loans
To be eligible for a Parent PLUS Loan, you must be a U.S. citizen or eligible non-citizen, and meet credit and general eligibility requirements for federal student aid. You cannot have previous student loan defaults unless they have been resolved or consolidated into a federal direct loan.
To apply for a Parent PLUS Loan, start by filling out the Free Application for Federal Student Aid (FAFSA). You can then apply online and download and sign the Master Promissory Note (MPN), which outlines your agreement to repay the loan. You can choose how much you want to borrow, and the loan is awarded for up to the total cost of attendance minus any financial aid your child has received. The money goes directly to the school, and if there is any leftover, the funds are sent to the parent or to the student with the parent's permission.
The interest rate for Parent PLUS Loans disbursed between July 1, 2025, and June 30, 2026, is 8.94%—this rate is fixed for the life of the loan. There is also a 4.228% fee for loans disbursed on or after October 1, 2020. These rates can change on July 1 each year, but once you take out the loan, the rate never changes. You may be able to receive a 0.25 percentage point discount if you set up automatic monthly payments.
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Graduate PLUS Loans
The Graduate PLUS Loan is not a "need-based" aid and can be awarded as long as there is room to add it to the Cost of Attendance (COA). If there is no more room in the student's COA, they will need to do a budget appeal to see if it can be increased. Interest fees will apply to the loan after it has been disbursed. However, the student should automatically be eligible for a deferment (delay) with their loan repayment as long as they are enrolled for at least half-time status with the school. If the student drops to less than half-time or withdraws during the period for which the loan was intended, the entire amount of the Graduate PLUS Loan becomes immediately due.
Students facing financial challenges should explore Income-Driven Repayment (IDR) plans, which can potentially lower monthly payments to $0, depending on their circumstances. Students should also review their auto-debit enrolment status or consider signing up for auto-debit.
To apply for a Graduate PLUS Loan, students must list San Francisco State University as their school of choice in the application. The application will confirm the academic year the loan will be used for and the months. Students should also be aware that they may complete a Graduate PLUS Loan Change Request Form to increase or decrease amounts, cancel undisbursed amounts, or take other related actions.
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Alternative Loans
It is important to carefully review all financing options before considering an alternative loan. Federal loans, such as Direct Subsidized, Direct Unsubsidized, and Direct PLUS/Graduate PLUS loans, may be more suitable for some students, and these should be considered first. Federal loans are borrowed from the U.S. Department of Education, and repayment begins six months after graduation or after ceasing enrollment.
Alternative loan providers may offer a variety of repayment options, as well as consolidation. Lenders may also offer benefits and discounts, such as interest rate reductions for signing up for EFT and/or on-time payments. The application process for alternative loans can be electronic, paper, or a combination of both, and many lenders suggest using Google Chrome for the best online application experience.
Students at SFSU can use the FastChoice loan comparison tool to compare different lenders and loan options.
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Income-Driven Repayment (IDR) plans
The U.S. Department of Education offers Income-Driven Repayment (IDR) plans, which can potentially lower monthly payments to as little as $0, depending on the borrower's financial situation. The IDR application can be found on StudentAid.gov/idr.
The IDR plan application process was temporarily paused to comply with the 8th Circuit Court of Appeals injunction, which directed the Department to cease implementation of the Biden Administration's Saving on a Valuable Education (SAVE) Plan and parts of other IDR plans. The SAVE plan was designed to provide student loan borrowers with the most affordable repayment plan yet, halving payments on undergraduate loans compared to other IDR plans and protecting more of the borrower's income for basic needs.
The three types of IDR plans available are:
- Income-Based Repayment (IBR) Plan
- Pay As You Earn (PAYE) Plan
- Income-Contingent Repayment (ICR) Plan
Students facing financial challenges are advised to explore these IDR plans. They can also visit Federal Student Aid's (FSA) Loan simulator to explore repayment plans that align with their needs and goals.
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Frequently asked questions
To apply for financial aid at SFSU, you must first determine which application you should complete. If you are a dependent, you and your parents must complete the application. If you are independent, you and your spouse (if married) complete the application. The two main applications are the FAFSA and CADAA.
There are several loan options available to students at SFSU. The Federal Pell Grant Program is a federal aid program for undergraduate students with exceptional financial need. The William D. Ford Federal Direct Student Loan Program (FDSL) has two components: the subsidized loan and the unsubsidized loan. The subsidized loan is available to undergraduate students with financial need, while the unsubsidized loan is available to undergraduate and graduate students with limited or no financial need. Graduate PLUS Loans are funds borrowed from the U.S. Department of Education for graduate students enrolled in a Master's or Graduate-level program. Parent PLUS Loans are funds borrowed from the U.S. Department of Education for parents or step-parents of undergraduate students who are considered dependent. Alternative loans are also offered by banks or lending institutions outside of SF State to assist students in bridging the gap between college costs and traditional funding sources.
Students should evaluate their repayment plan options and consider using Federal Student Aid's (FSA) Loan simulator to explore different plans. Students facing financial challenges should explore Income-Driven Repayment (IDR) plans, which can potentially lower monthly payments to as low as $0. The new Saving on a Valuable Education (SAVE) IDR plan will cut payments on Undergraduate Loans in half compared to other IDR plans. Students should also review their auto-debit enrollment status and consider signing up for auto-debit.
Students can keep track of their financial aid disbursements through their Account Activity located in their Student Center. To access this information, log on to your SF State Gateway, find the Launchpad section, click on "Student Center," go to the Finances section, and find the drop-down menu tab with a circle arrow.
