To be eligible, you must be enrolled or accepted for enrollment for at least six semester hours and must be working toward a degree or certificate. For three-hour terms in one semester, loans will not credit to a student’s account until total registration equals six hours. Federal Loans will not pay until the student has completed both Entrance Counseling and the Master Promissory Note at studentaid.gov. Loans will not be credited to accounts until 30 days after classes begin or when a student begins the sixth credit hour, whichever comes last.
The Direct Subsidized Loan is a federal loan available to undergraduate students only that must be repaid, but the interest is paid for by the government while the student is enrolled in school. The ability to receive the Direct Subsidized Loan is based on calculated need as determined by the FAFSA. The current interest rate can be found here.
The Direct Unsubsidized Loan is also a federal loan that must be repaid. If your FAFSA results determine that you are not eligible for the Direct Subsidized Loan, the Direct Unsubsidized Loan will be used to meet your borrowing eligibility as determined by the Federal Loan limits listed below. “Unsubsidized” means that interest will accrue while you are enrolled in school. You can choose to pay the interest while in school or defer the interest and have it added to the principal balance after finishing school. The current interest rate can be found here.
The Department of Education charges a 1.057% origination fee for all Federal Direct Subsidized and Unsubsidized Loans.
Note: Independent students may borrow at increased limits under the Direct Unsubsidized Loan program. Aggregate limits for dependent, independent, and graduate students vary. For more information, please contact the Financial Aid Office.
Learn more about Federal Loans, along with repayment options, capitalized interest and repayment calculations.
Federal Loan Information
Loan Forgiveness Options for Teachers
You may be eligible to have part or all of your Federal Direct Subsidized, Unsubsidized, and/or Perkins Loans forgiven by the Department of Education if you meet certain criteria. Check this website for more information, or contact the Department of Education.
Teachers