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Federal Direct Loans

Federal Direct Subsidized and Unsubsidized loans are automatically awarded to admitted students who complete the FAFSA process each academic year. Although the Department of Education has not finalized the interest rates for 2024-25, they have announced that they expect the following rates will be approved:

2024-2025 Academic Year Rates for loans first disbursed after July 1st 2024

6.53% Fixed Interest Rate (Undergraduate Students)

8.08% Fixed Interest Rate (Graduate Students)

1.057% Loan Origination Fee  

Federal Direct Subsidized Loans

  • Do not accrue interest while the student is enrolled at least half-time and during the six month loan grace period before repayment begins
  • Are need-based as determined by the FAFSA
  • Only undergraduate students are eligible for subsidized loan

Federal Direct Unsubsidized Loans

  • Accrue interest at a low fixed interest rate immediately after the loan has disbursed
  • Are not need-based
  • Are available to both Undergraduate and Graduate students


  • Student must be enrolled at least half-time in a degree-granting program
    • 6 credit hours for undergraduate students
    • 5 credit hours for graduate or professional students (Pharmacy/Optometry)
    • 3 credit hours for doctoral students (DCCL)
  • Students must complete a FAFSA for the appropriate aid year and complete any other missing requirements (such as verification)
  • Student must complete Entrance Counseling
  • Student must complete a Master Promissory Note (MPN)

Direct Loan Links

Direct Loan Consolidation

Direct Loan Entrance Counseling/MPN

Direct Loan Exit Counseling

Federal Loan Frequently Asked Questions

Federal Loan Problem Resolution

Annual Loan Limits

Dependent Students

Class Subsidized   Unsubsidized Total
Freshman (0-25 credits) $3,500 + $2,000 $5,500
Sophomore (26-55 credits)  $4,500 + $2,000 $6,500
Junior (56-85 credits)  $5,500 + $2,000 $7,500
Senior (86 + credits) $5,500 + $2,000 $7,500
Graduate N/A + N/A N/A

* Student must be enrolled in a Bachelor's degree program to be considered a Junior, regardless of credit hours earned. 

Note: Students who are enrolled in Associate Degree programs may not receive more than the sophomore level loan amount, regardless of the number of credit hours they have earned.

Independent Students

Class Subsidized   Unsubsidized Total
Freshman (0-25 credits) $3,500 +   $6,000  $9,500
Sophomore (26-55 credits) $4,500 +   $6,000 $10,500
Junior (56-85 credits) * $5,500 +   $7,000 $12,500
Senior (86 + credits) $5,500 +   $7,000 $12,500
Graduate N/A + $20,500 $20,500


Dependency Subsidized   Unsubsidized Total
Dependent $23,000 +   $8,000    $31,000
Independent $23,000 +  $34,500    $57,500
Graduate N/A + $138,500  $138,500