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Undergraduate Financial Aid

Student and Parent Loans

Federal Direct Subsidized/Unsubsidized Loans

Federal Direct Subsidized/Unsubsidized loans are the most widely-used loans for undergraduate students. Students who submit the FAFSA will have one or both of these loans offered as a part of their financial aid package.

Eligibility Requirements:

Available to students in a degree-seeking program who submitted a FAFSA. Subsidized loans are available to students with financial need; unsubsidized loans are available regardless of need. 

Maximum Loan Amount:

Depends on dependency status and year in school:



Maximum Total

Maximum Subsidized

Dependent Students*:

First-Year Students











Independent Students*:

First-Year Students











*You are considered to be an independent student if you are: at least 24 years old; married; have children; a graduate student; a veteran; a member of the armed forces; an orphan, ward of the court, or homeless. If none of those apply, you are considered to be a dependent student.

Interest Rate:

  • For loans borrowed during the 2018-19 academic year: 5.05%
  • For loans borrowed during the 2017-18 academic year: 4.45%
  • For loans borrowed during the 2016-17 academic year: 3.76%
  • For loans borrowed during the 2015-16 academic year: 4.29%

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

For subsidized loans, the U.S. Department of Education pays the interest while you are enrolled at least half time (6 credits or more). Interest accrues on unsubsidized loans while you are in school, and on both loans 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. 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 (6 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 Federal Direct Subsidized/Unsubsidized loans through