Federal Direct Loans
Federal Direct Subsidized Loans
The Federal Direct Subsidized Loan is a need-based loan awarded on information given on the FAFSA. The federal government pays the interest during certain times (for example, while the student is enrolled in school).
| Subsidized Loan Details | |
| Current interest rate: | 3.86% fixed (effective July 1, 2013) |
| Net fee per disbursement: | 1.051% |
| Grace period: | 6 months |
| Master Promissory Note | Required |
| Loan Entrance Counseling |
Required |
Federal Direct Unsubsidized Loan
The Federal Direct Unsubsidized Loan is not contingent upon financial need; thus, the borrower is responsible for interest that accrues on the loan while in school.
| Unsubsidized Loan Details |
|
| Current interest rate: (Effective July 1, 2013) |
3.86% fixed (undergraduate) 5.41% fixed (graduate) |
| Net fee per disbursement: | 1.051% |
| Grace period: | 6 months |
| Master Promissory Note | Required |
| Loan Entrance Counseling |
Required |
Federal Direct Loan Limits
