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Aug. 10, 2020 Update Fordham Forward, the plan to resume in-person teaching and learning on Aug. 26, is available below, along with extensive resources for students, parents, faculty, and staff. Full Details

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 4.53% for Direct Subsidized/Unsubsidized loans.
  • Net origination fee of 1.059%

Application Process

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 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 2020 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