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Graduate Financial Aid

Student Loans

Federal Direct Unsubsidized Loan

The Federal Direct Unsubsidized loan is the most widely-used loan for graduate students. Almost all students who submit the FAFSA will have this loan offered as a part of their financial aid package.

Eligibility Requirements:

Available to students in a degree-seeking program who submitted a FAFSA, regardless of financial need.

Maximum Loan Amount:

$20,500 per academic year. The lifetime borrowing limit is $138,500.

Interest Rate:

  • For loans borrowed during the 2018-19 academic year: 6.60%
  • For loans borrowed during the 2017-18 academic year: 6.00%
  • For loans borrowed during the 2016-17 academic year: 5.31%

These interest rates are fixed for the life of the loan.

Interest accrues while you are in school, during the grace period, and during repayment. You can pay the interest as it accrues, if you wish. If not paid, interest will be capitalized when repayment begins.

Origination Fee:

A loan origination fee is proportionately deducted at disbursement of each installment of the loan. The percentage varies depending on when the loan is first disbursed. For loans first disbursed on or after Oct. 1, 2017, and before Oct. 1, 2018, the rate is 1.066%.

Requirements to Receive Loan:

You must complete both a Master Promissory Note and Entrance Counseling online at , and remain enrolled at least half-time (4 credits or more) to receive funds.

Repayment Terms:

No payments required while in school. Repayment begins six months after you graduate or drop below half-time enrollment. Payments are made to your Direct Loan servicer each month. The minimum payment is $50, but that amount will likely be higher depending on the total amount borrowed. 

Repayment Options:

The standard repayment period is 10 years but can be as long as 25 years depending on total borrowing and chosen repayment plan. Can be consolidated with other federal loans.

Additional Information: 

Learn more about the Federal Direct Unsubsidized loan through