… of Education (ED) and are fixed rates for the term of the loan. Subsidized Federal Direct Loans Students must complete the FAFSA and demonstrate financial need according to the federal formula in order to be eligible for subsidized direct loans. Under this program: The federal … Federal Direct Loan until your MPN has been signed/e-signed and approved by the U.S. Department of Education. Students can complete their MPN online at the Federal Student Aid Student Aid website . Mandatory Loan Counseling … Entrance Loan …