Direct Unsubsidized Loan
- Eligible students may borrow up $20,500 per year, with a lifetime borrowing limit of $138,500 (including any Federal Direct Loans for both undergraduate and graduate education).
- Fixed interest rate (7.05% for loans made in 2023–2024).
- Interest accrual begins immediately and continues to accrue until the loan is repaid; borrowers may elect to make interest payments while enrolled or have the accruing interest added to the outstanding loan balance.
- A loan origination fee will be deducted from the face value of the loan (currently 1.057%).
- The loan is disbursed in two equal parts, typically once per term.
- Repayment begins six months after graduation or dropping below half-time enrollment.
- See the Federal Student Aid website for more details.
Direct Grad Plus Loan
- The annual limit is determined by the student’s cost of attendance, with no aggregate limits.
- Fixed interest rate (8.05% for loans made in 2023–2024).
- *Interest accrual begins immediately and continues to accrue until the loan is repaid; borrowers may elect to make interest payments while enrolled or have the accruing interest added to the outstanding loan balance.
- A loan origination fee will be deducted from the face value of the loan (currently 4.228%).
- The loan is disbursed in two equal parts, typically once per term.
- Repayment begins six months after graduation or dropping below half-time enrollment.
- Applicants must pass a credit check in order to borrow under the Grad PLUS program.
See the Federal Student Aid website for more details.