Federal Direct Unsubsidized Loans
What You Should Know Before Borrowing
Our Financial Aid Guide offers valuable information about the availability of aid, eligibility requirements for aid and loans as well as the steps necessary to receive aid and/or loans. We encourage reading through the guide to ensure you have all the information you need.
Requesting Your Federal Direct Loan
To submit a Spring or Summer 2020 loan request, select the 2019-2020 academic year (top right corner) in your student portal. The portal will default to 2020-2021.
|Interest Rate||Fixed for the duration of the loan at 4.3%|
There is a 1.059% fee deducted from each loan disbursement
|Eligibility||A valid FAFSA declaring you eligible for Title IV Aid must be submitted. You must be enrolled at least ½ time or certified as at least ½ time in a degree or eligible certificate program.|
|Annual Loan Limit||$20,500|
|Lifetime Loan Limit||$138,500|
|Grace Period||After you graduate, leave school, or drop below half-time enrollment, you have a one-time six month grace period. You are not required to make any payments during this period. If you previously used your grace period, you will not be eligible for another grace period.|
|Repayment||Begins 6 months after graduation or when you drop below half-time enrollment if you have not used your 6 month grace period. All students are assigned a standard 10 year repayment plan but you can change repayment plans at any time. We encourage you to explore all of your options.|