Federal Direct Loans

Federal Direct Unsubsidized Loan

The Federal Unsubsidized Direct Loan Program provides low-interest, deferred-payment loans to undergraduate and graduate students regardless of financial need. These funds assist students with educational expenses.

The U.S. Department of Education does not subsidize the interest on these loans while the students are enrolled at least half-time and during grace and deferment periods.

Students apply for the Federal Unsubsidized Direct loan by completing the FAFSA and the Master Promissory Note (MPN). All first-time University borrowers must complete Entrance Counseling prior to receiving funds. All students who had a Direct loan disbursed while attending the University must complete exit counseling prior to graduation. Those borrowers who terminate attendance by means other than graduation or those who were not able to attend exit counseling sessions will be contacted and informed of loan responsibilities in writing. All borrowers may also complete the required entrance and exit counseling on-line.

The total aggregate amount of Direct loans that may be borrowed is $138,500 for graduate borrowers. Annual limits are noted in the chart below. The total amount of Subsidized and Unsubsidized loans may not exceed the maximum amounts.

All degree programs at the University are at least an academic year in length.

Annual Direct Loan Limits

Dependent Undergraduates	Subsidized	Unsubsidized	Maximum Subsidized & Unsubsidized
First Year 1-24 credits completed	$3,500	$2,000	$5,500
Second Year 25-48 credits completed	$4,500	$2,000	$6,500
Third Year 49-72 credits completed	$5,500	$2,000	$7,500
Fourth Year and Beyond 73+ credits completed	$5,500	$2,000	$7,500

Independent Undergraduates (and dependent undergraduates whose parents cannot borrow PLUS loan)
First Year 1-24 credits completed	$3,500	$6,000	$9,500
Second Year 25-48 credits completed	$4,500	$6,000	$10,500
Third Year 49-72 credits completed	$5,500	$7,000	$12,500
Fourth Year and Beyond 73+ credits completed	$5,000	$7,000	$12,500

Graduate and Professional Students
Each year until lifetime aggregate is met	$0	$20,500	$20,500

Federal Direct PLUS Loan for Graduate and Professional Students (GradPLUS)

The GradPLUS provides a non-subsidized loan option to graduate and professional students. Students must also be able to meet the credit criteria established by the Federal Direct Loan Program, complete a GradPLUS Master Promissory Note (MPN) and complete GradPLUS Entrance Counseling. A credit check will be done for students applying for GradPLUS.

The Grad PLUS loan may be may be awarded up to the cost of attendance less any other aid awarded.