2012-2013 Federal Direct Subsidized or Unsubsidized Loan
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Click here to view a detailed chart on the Federal Loan Program
Eligibility for subsidized loans is need based. The federal government pays (subsidizes) the interest during in-school, grace and deferment periods for subsidized loans. For unsubsidized loans the interest which accrues during in-school, grace and deferment periods may be paid by the student or capitalized. Students are not required to make payments on Stafford loans until after their in-school and grace periods are over.
- Fixed interest rate of 3.4% for Direct Subsidized loans and 6.8% for Direct Unsubsidized loans.
- Net origination fee of 1% deducted from each Direct Subsidized/Unsubsidized loan disbursement
You cannot receive Federal Direct Subsidized/Unsubsidized Loan funds until the FAFSA, Master Promissory Note (MPN) and Entrance Counseling have been completed. Students who borrowed Federal Direct Subsidized/Unsubsidized Loans at Fordham since the 2010-2011 academic year do NOT have to complete another MPN or Entrance Interview.
The FAFSA can be filed at http://fafsa.ed.gov
The MPN and Entrance Counseling can be completed at http://studentloans.gov
You can confirm that Fordham has received your completed MPN and Entrance Counseling by clicking on the Documents tab of the Financial Aid section of your my.fordham.edu account.
Fordham School of Professional and Continuing Studies & Gabelli School of Business Evening Students should review and complete the 2012-13 Professional and Continuing Studies & Gabelli Evening Financial Aid Application.
Annual Subsidized/Unsubsidized Loan Limits
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All Dependent Undergraduates
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Subsidized Eligibility
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Unsubsidized Eligibility
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Total Sub/Unsub Loan Eligibility
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Freshmen
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$3,500
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$2,000
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$5,500
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Sophomores
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$4,500
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$2,000
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$6,500
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Juniors & Seniors
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$5,500
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$2,000
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$7,500
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All Dependent Undergrads with a PLUS Denial & Independent Undergrads
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Subsidized Eligibility
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Unsubsidized Eligibility
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Total Stafford Loan Eligibility
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Freshmen
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$3,500
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$6,000
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$9,500
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Sophomores
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$4,500
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$6,000
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$10,500
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Juniors & Seniors
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$5,500
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$7,000
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$12,500
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Lifetime Aggregate Loan Limits
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Dependent Undergraduate Students
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$31,000 of which $23,000 can be subsidized
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Independent Undergraduate Students
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$57,500 of which $23,000 can be subsidized
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The Direct Loan MPN can be completed at http://studentloans.gov . You will have to sign in using your PIN from the FAFSA, then you will be given the option to complete the new MPN.
