Graduate Federal Direct Loan Information
Federal Direct Unsubsidized Loan
- Undergraduate loan limits (when combined with Subsidized loan): Freshman - $5,500; Sophomore - 6,500; Junior and Senior - $7,500; Cumulative limit - $31,000 when combined with subsidized loan.
- Independent undergraduate loan limits (in addition to regular undergraduate loan limits): Freshman and Sophomore - $4,000; Junior and Senior - $5,000; Cumulative limit - $57,500 when combined with subsidized loan.
- Graduate loan limits (when combined with Subsidized loan): $20,500 per year; Cumulative limit - $138,500 when combined with subsidized loan.
- The federal government will NOT pay the interest while you are a student. However, you do have the option of making interest-only payments while you are in school, or waiting until repayment begins on the principal six months after ceasing to be enrolled at least half time.
- The interest rate is fixed at 6.8%.
- Repayment of principle and interest beginning six months after ceasing to be enrolled at least half-time.
- FAFSA required annually
- Must maintain satisfactory academic progress
Eligibility
Your financial aid award letter will state your eligibility for the Unsubsidized Direct Loan.
Processing Your Loan
- First-time Borrowers
- To request less than the maximum amount listed above or to decline loans, complete and submit online Request / Decline Federal Direct Loan.
- Complete the online Entrance Loan Counseling, an interactive session offering important information about your student loan, required of all first time borrowers.
- Complete online your Master Promissory Note.
- Repeat Borrowers
- To request less than the maximum amount listed above or to decline loans, complete and submit online Request / Decline Federal Direct Loan.
- Complete online your Master Promissory Note.
Federal Direct Grad PLUS Loan
- Available to credit worthy graduate students
- Students must first apply for and receive maximum eligibility under the Federal Direct Loan Program (see below)
- Eligibility is limited to educational costs minus financial aid (including Stafford Loans)
- Interest rate is fixed at 7.9%
- Repayment begins once the loan if fully disbursed
Eligibility
Graduate students enrolled at least half time can borrow an amount equal to the cost of education less other financial aid.
Processing Your Loan
- Complete and submit online the Secure Request for Grad PLUS Loan form.
- Complete the online Entrance Loan Counseling, an interactive session offering important information about your student loan, required of all Grad PLUS borrowers.
- Complete online your Master Promissory Note.