海角破解版

Financial Aid

Federal Direct Loans for Undergraduate Students

These fixed-rate, federally guaranteed loans are processed through the .听Loans will be issued in the student鈥檚 name, and the student will be responsible for repayment.

Eligibility

To be eligible, students must be admitted into an undergraduate degree program and must be enrolled in a minimum six credit hours of degree-level, eligible coursework.

Eligibility for Federal Direct subsidized loans is based on financial need as determined by the FAFSA, and maximum subsidized loan eligibility will be processed prior to determining unsubsidized loan amounts.

Benefits

There are of two types of Federal Direct Loans:

  • Subsidized loans 鈥� Interest is not charged on the loan until enrollment ends, after which it will accrue at a 4.53% fixed rate for 2019-20. Federal regulations limit student eligibility for subsidized loans to 150% of the time needed to complete their degree (learn more about this limit rule from ).
  • Unsubsidized loans 鈥� Interest accrues while in school, with the interest rate set at a 4.53% fixed rate for 2019-20. In-school interest payments are optional, but are recommended to help reduce a student鈥檚 overall debt burden.

Federal student loans will automatically be processed and listed on award letters, and students may contact our office or use STARS to cancel/reduce loan amounts. Receiving other forms of aid (scholarships, grants, etc.) can reduce the total amount of loans a student may receive for the academic year.

For loans disbursed on or after October 1, 2019, and before October 1, 2020, the origination fee will be 1.059% is deducted from each loan payment forwarded to the school by Direct Loan Origination Center (i.e. for every $2,000 borrowed, the student receives $1,978).

Annual Loan Limits for Undergraduate Students

Academic Year Base Award (Sub/Unsub) Additional Unsubsidized Parent Denied PLUS Loan -OR- Independent Student
(Additional Unsubsidized)
1st year (1-29 hours) $3,500 $2,000 $4,000
2nd year (30-59 hours) $4,500 $2,000 $4,000
3rd and 4th years (60+ hours) $5,500 $2,000 $5,000

Aggregate loan limits cap the total amount of Federal Direct Loans a student can accumulate. Keep track of your outstanding federal student loans online .

Aggregate Loan Limits for Undergraduate Students

Undergraduate Students Maximum for Subsidized Combined Maximum (Sub + Unsub)
Dependent $23,000 $31,000
Independent $23,000 $57,500

Once a student reaches aggregate loan limits, they are no longer eligible to receive federal student loans, and may instead consider a .听

Please note that, starting with new borrowers beginning on or after July 1, 2013,聽eligibility to receive subsidized loans will also be limited to 150 percent of the length of the student鈥檚 academic program (i.e.听students in a four-year program will be eligible for subsidized student loans for the equivalent of six years).

Application

To be considered for Federal Direct Loans, a student must submit a .听

Additional Requirements

First time federal student loan borrowers must complete and a in order to receive their loan funds.

贵耻苍诲蝉听must be requested while the student is actively enrolled, giving a minimum one week notice to allow for processing.听Federal student loans聽cannot be requested to pay a past due balance聽after enrollment has ended for that term.

Repayment Information

Federal Direct Loans are deferred (repayment is delayed) until the student graduates, leaves school, or drops below half-time enrollment. Once deferment ends, the student will have a six-month grace period before repayment begins.

Students who may have difficulty repaying their loans should always communicate with their loan servicer and review options for . There are also a variety of for eligible students.

Students may also consider of their federal loans through the .