Federal Direct Subsidized and Unsubsidized loans are automatically awarded to admitted students who complete the FAFSA process each academic year.
Rates for loans first disbursed after July 1st 2019 - June 30, 2020:
4.53% Fixed Interest Rate (Undergraduate Students)
6.08% Fixed Interest Rate (Graduate Students)
1.062% 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
- Time limitation on Direct Subsidized Loan eligibility
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
Eligibility
- 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 Entrance Counseling/MPN
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 |
LIFETIME LOAN LIMITS
| 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 |
