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Federal Direct Loan

Federal Direct Subsidized Loan

  • The interest on subsidized loans is covered by the federal government during half-time enrollment and during the 6-month grace period before repayment begins.
  • Interest starts when repayment begins.
  • Repayment is not required while half-time enrollment is maintained.
  • Interest rate- 4.66%

Federal Direct Unsubsidized Loan

  • All interest that is added to the loan while the student is in school is the student’s responsibility.
  • Payment of principal and interest are not required while the student is enrolled at least half-time.
  • Repayment begins 6 months after half-time enrollment ends.
  • Interest rate- 4.66%

Federal Direct Annual Loan Limits by Grade Level


Grade Level


Subsidized Amount

Unsubsidized Amount for Dependent Students

Unsubsidized Amount

for Independent Students

Freshmen(0-30 hours)




Sophomore(31-60 hours)




Junior(61-90 hours)




Senior(91 hours& up)




Graduate Students can borrow up $20,500 in Unsubsidized Loans for the one academic year.


  • You MUST be enrolled at least half time (6 Hours) to be eligible for a Federal Direct Loan.  
  • The FAFSA is your application for Federal Direct Loans.
  • All students who plan to use a Federal Direct Loan for the 2014-2015 award year and beyond, must complete a Master Promissory Note for Direct Loans. To complete this MPN, go to You will need a Federal PIN in order to sign into the site. If you do not have a PIN or do not remember your PIN, please go to
  •  All NEW Students must complete Direct Loan Entrance Couneling. This can also be completed at


Please Borrow Responsibly:


  • Debt/Salary Wizard - Use this tool to help you determine how much you should borrow based on your expected salary in the future. You can also determine what salary is needed based on your current student loan debt.Remember to be conservative and borrow only what you need. Also, be sure to keep track of how much you borrow each year. You can find your loan history online via the National Student Loan Data System.


Parent PLUS Loan

Parent PLUS loans provide additional funds for educational expenses for parents of dependent undergraduate students. Loan eligibility is based on the cost of attendance minus any other aid the student may receive.

Unlike the Stafford loan, a PLUS loan is based on credit. If a parent is denied for a PLUS loan, the student can then apply for an additional unsubsidized loan.

The Federal PLUS repayment begins 60 days after the funds are fully disbursed. Parent borrowers can request a deferment of repayment while the student is enrolled at least half-time. A deferment request form is available here.

To apply for a Parent PLUS Loan, two steps are required:


Alternative Education Loan

Alternative education loans are private loans that are not associated with the Federal Government. Please check out the Alternative Education Loan Guide for more information and tool to help you research lenders.


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