Direct Subsidized and Unsubsidized Loans

A federal student loan, made through the William D. Ford Federal Direct Loan Program, for which students and parents borrow directly from the U.S. Department of Education are available for undergraduate and graduate students.

A minimum enrollment of 6 credit hours (half-time) is required for all loans.

Students seeking a federal loan are required to complete Entrance Counseling and a Master Promissory Note (MPN).

Direct Subsidized Loans

Direct Subsidized Loans are available for undergraduate students with financial need. The U.S. Department of Education pays the interest while students are enrolled at least half-time, for the first six months after you leave school (grace period), and during deferment.

Direct Unsubsidized Loans

Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need.  You are responsible for interest, which begins to accrue immediately.

Direct Loan Interest Rates

Interest Rates for Direct Loans First Disbursed on or After July 1, 2016:

Direct Loans

Undergraduate Students

Graduate Students

Subsidized

3.76%

N/A

Unsubsidized

3.76%

4.29%

Interest Rates for Direct Loans First Disbursed Between July 1, 2015 and June 30, 2016:

Direct Loans

Undergraduate Students

Graduate Students

Subsidized

4.29%

N/A

Unsubsidized

4.29%

5.84%

For more information on interest rates prior to July 1, 2015, please visit www.studentaid.ed.gov.

Annual Loan Limits

Annual loam limits are the maximum amount of direct loans a student can receive during an academic year.  Actual award amounts may vary depending on financial need, eligibility, cost of attendance, etc.

Classification Dependent Students Independent Students & Dependent Undergraduates with parent PLUS Denial
Freshman: 0-29 earned credit hours $5,500 - No more than than $3,500 in subsidized loans. $9,500 - No more than than $3,500 in subsidized loans.
Sophomore: 30-59 earned credit hours $6,500 - No more than $4,500 in subsidized loans. $10,500 - No more than $4,500 in subsidized loans.
Junior & Beyond: 60 or more earned credit hours $7,500 - No more than $5,500 in subsidized loans. $12,500 - No more than $5,500 in subsidized loans.
Graduate Students N/A $20,500 unsubsidized only

Aggregate Loan Limits

Aggregate loan limits are the total amount of loans a undergraduate and graduate student may borrow over the course of your education. If the total loan amount you receive over the course of your education reaches the aggregate loan limit, you are not eligible to receive additional loans. However, if you repay some of your loans to bring your outstanding loan debt below the aggregate loan limit, you could then borrow again, up to the amount of your remaining eligibility under the aggregate loan limit. 

Dependent Students Independent Students & Dependent Undergraduates with parent PLUS Denial
Undergraduate Students $31,000 - No more than $23,000 in subsidized loans. $57,000 - No more than $23,000 in subsidized loans.
Graduate Students N/A $138,500 - No more than $65,000 in subsidized loans. Includes all federal loans received in undergraduate study.

For more information about Direct Loans visit www.studentaid.ed.gov.