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 3.73% for Direct Subsidized/Unsubsidized loans first disbursed on or after July 1, 2021 and before July 1, 2022
- Net origination fee of 1.057% for Direct Subsidized/Unsubsidized loans first disbursed on or after July 1, 2021 and before July 1, 2022
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/finaid to accept or decline your loans online or return a signed copy of the award letter to your appropriate campus.
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