Federal Direct Loans for Undergraduate Students
²ÊÃñ±¦µä participates in the Federal William D. Ford Direct Loan program (known as Direct or Stafford Loans). The lender is the U.S. Department of Education rather than a bank or other financial institution. There are two types of Federal Direct Loans available for undergraduate students:
- Subsidized loans are need-based and do not have interest accruing while you are in school or in deferment.
- Unsubsidized loans may or may not be based on financial need and interest accrues while you are in school or in deferment.
Loan Features
- Loan origination fee for both loans is 1.057%.
- Repayment begins 6 months after you graduate, drop below half time, or withdraw. Learn more about managing repayment of your student loans.
- Subsidized loans have a time-in-college loan limit.
- Students graduating in December will have their Direct Loans prorated for fall. View prorated loan amounts below Undergraduate Students Who Are Graduating.
- Loans must be processed by our office by the last day the student is enrolled in at least 6 credit hours.
Fixed Interest Rates
| Date of First Disbursement | Subsidized | Unsubsidized |
|---|---|---|
| 7/1/24 to 6/30/25 | 6.53% | 6.53% |
| 7/1/23 to 6/30/24 | 5.49% | 5.49% |
| 7/1/22 to 6/30/23 | 4.99% | 4.99% |
Loan Limits
| Annual loan limit | |
|---|---|
| First-Year Students | $5,500 (Maximum of $3,500 can be subsidized) |
| Sophomore | $6,500 (Maximum of $4,500 can be subsidized) |
| Junior or Senior | $7,500 (Maximum of $5,500 can be subsidized) |
| Annual loan limit | |
|---|---|
| Independent First-Year Students | $9,500 (Maximum of $3,500 can be subsidized) |
| Independent Sophomore | $10,500 (Maximum of $4,500 can be subsidized) |
| Independent Junior or Senior | $12,500 (Maximum of $5,500 can be subsidized) |
| Graduate or Professional | $20,500 |
| Lifetime Loan Limits | |
|---|---|
| Dependent Undergraduate | $31,000 (up to $23,000 may be subsidized) |
| Independent Undergraduate | $57,500 (up to $23,000 may be subsidized) |
| Graduate or Professional | $138,500 (up to $65,500 may be subsidized) |
How to Apply
- Complete
- Accept the loan online (view instructions)
- Complete the Master Promissory Note (MPN) and Entrance Counseling online at
Note: Loans must be processed by our office by the last day the student is enrolled in at least 6 credit hours.
- Complete
- Accept the loan online (view instructions)
Note: Loans must be processed by our office by the last day the student is enrolled in at least 6 credit hours.