Federal Direct Subsidized and Unsubsidized Loans
The federal government pays (subsidizes) the interest during in-school periods for subsidized loans. For unsubsidized loans, the interest which accrues during in-school and grace periods is paid by the student in repayment.
Eligibility for subsidized loans is need-based; however, you do not have to demonstrate financial need to receive an unsubsidized loan.
Students are not required to make payments on Direct Subsidized/Unsubsidized loans until after their in-school and grace periods are over.
- Fixed interest rate of 2.75% for Direct Subsidized/Unsubsidized loans.
- Net origination fee of 1.057%
Academic Year (fall and spring)
Undergraduate students are offered their full Federal Direct Subsidized/Unsubsidized Loan eligibility on their award notification after completing the financial aid application process. Visit my.fordham.edu to accept or decline your loans online or return a signed copy of the award letter to your appropriate campus.
Undergraduate students must request their Summer Direct Loan using our Summer 2021 Direct Loan Request Form.
You must also have a completed a MPN and Entrance Counseling Session before you can receive Direct Subsidized/Unsubsidized Loan funds. Students who borrowed Direct Subsidized/Unsubsidized loans at Fordham since the 2009-2010 academic year do NOT have to complete another MPN or Entrance Counseling session.
To be eligible, you also must be:
- accepted and matriculated in a degree granting program
- making satisfactory academic progress
- enrolled at least half-time
- not be in default on any federal student loan