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Federal Direct Loans

Subsidized - Federal Direct Loan 
Awarded to qualified students on the basis of financial need

  • Accruing interest: Interest does not accrue while you are in school at least half-time
  • Grace period: Six months
  • Undergraduate Interest Rate: Fixed at 4.99% for loans disbursed on or after July 1, 2022 and before July 1, 2023 
  • Origination Fee: 1.057% for loans first disbursed on or after October 1, 2020 and before October 1, 2023
  • Entrance Counseling: Required
  • Master Promissory Note: Required
  • Dependent Aggregate Borrowing Limit: $23,000
  • Independent Aggregate Borrowing Limit: $23,000
  • Maximum eligibility timeframe: 150% of academic program

Unsubsidized - Federal Direct Loan 
Not offered on the basis of financial need

  • Accruing Interest: Interest will accrue as soon as the loan is disbursed
  • Grace period: Six months
  • Undergraduate Interest Rate: Fixed at 4.99% for loans disbursed on or after July 1, 2022 and before July 1, 2023 
  • Origination Fee: 1.057% for loans first disbursed on or after October 1, 2020 and before October 1, 2023
  • Entrance Counseling: Required
  • Master Promissory Note: Required
  • Dependent Aggregate Borrowing Limit: $31,000 (no more than $23,000 may be subsidized)
  • Independent Aggregate Borrowing Limit: $57,500 (no more than $23,000 may be subsidized)  
  • Maximum eligibility timeframe: 150% of academic program

Direct Loan Maximum Program Eligibility

Once students receive their award letter, which indicates the amount of Direct Loans that they're eligible for, they may either decline the loan or accept all or partial amounts. The Financial Aid Office will be available to assist students in determining if enough aid is available to cover the cost of the program. 

To determine if you are a Dependent or Independent student, please visit https://studentaid.gov/apply-for-aid/fafsa/filling-out/dependency

Note: The following numbers are based on the 2022-2023 year and were determined by the Federal Government. Amounts are subject to change.   

Dependent Student Maximum Program Eligibilty
Academic Year 1: $3500 Subsidized Loan | $2000 Unsubsidized Loan
Academic Year 2: $2178 Subsidized Loan | $968 Unsubsidized Loan  

Independent Student Maximum Program Eligibilty
Academic Year 1: $3500 Subsidized Loan | $6000 Unsubsidized Loan
Academic Year 2: $2178 Subsidized Loan | $2809 Unsubsidized Loan