Federal Loan Rates, Limits, Terms
Federal Direct Subsidized Loans
Sponsor | U.S. Department of Education, 1-800-557-7394. |
Amount | Up to $3,500 Freshman, $4,500 Sophomore, $5,500 Junior and Senior. (NOTE: Effective July 1, 2012 the Subsidized Loan is no longer available to graduate students.) |
Interest |
Current interest rate 4.99%. Based on 10-year Treasury bond yield plus 2.05 percent. Interest rate not to exceed 8.25%. |
Repayment Term |
Standard: 10 years. Many other options are available: see Federal Student Aid |
Fees | An origination fee of 1.057% will be deducted from each disbursement for loans first disbursed on or after October 1, 2021. Calculate fee |
Eligibility | Student must maintain at least half-time enrollment status (i.e. at least 6 credits/points for undergraduates or, for graduate students, at least 4.5 credits/points or a half-time equivalency as approved by their academic department) in each enrolled semester and meet basic eligibility requirements. |
Deferral | Principal and interest*. Repayment begins six months after graduation or when the student falls below half-time status. |
Federal Direct Unsubsidized Loans
Sponsor | U.S. Department of Education, 1-800-557-7394. |
Amount |
DEPENDENT STUDENTS: Up to $5,500 Freshman, $6,500 Sophomore, $7,500 Junior/Senior. (All amounts minus any subsidized loan.) Additional unsubsidized amounts may be available if your parent is credit denied for a Plus Loan. INDEPENDENT STUDENTS: Up to $9,500 Freshman, $10,500 Sophomore, $12,500 Junior/Senior, $20,500 Graduates, $40,500 Graduates in health professions. (All amounts minus any subsidized loan.) |
Interest | Current interest rate 4.99% for undergraduate students, 6.54% for graduate students. Based on 10-year Treasury bond yield plus 2.05 percent (for undergraduate students) and 10-year Treasury bond yield plus 3.60 percent (for graduate students). Interest rate not to exceed 8.25% (for undergraduate students) and 9.50% (for graduate students). |
Repayment Term |
Standard: 10 years. Many other options are available: see Federal Student Aid |
Fees | An origination fee of 1.057% will be deducted from each disbursement for loans first disbursed on or after October 1, 2021. Calculate fee |
Eligibility | Student must maintain at least half-time enrollment status (i.e. at least 6 credits/points for undergraduates or, for graduate students, at least 4.5 credits/points or a half-time equivalency as approved by their academic department) in each enrolled semester and meet basic eligibility requirements. |
Deferral | Principal only. Interest may be capitalized. Repayment begins six months after graduation or when the student falls below half-time status. |
Sponsor: | U.S. Department of Education, 1-800-557-7394. |
Amount: | Up to the full cost of education, minus other financial aid received. |
Interest: |
Current interest rate 7.54%. Based on 10-year Treasury bond yield plus 4.60 percent. Interest rate not to exceed 10.50%. |
Repayment Term: |
Standard: 10 years. Many other options are available: see Federal Student Aid |
Fees: | An origination fee of 4.228% will be deducted from each disbursement for loans first disbursed on or after October 1, 2021. Calculate fee |
Eligibility: | Student must maintain at least half-time enrollment status (i.e. at least 6 credits/points for undergraduates or, for graduate students, 4.5 credits/points or a half-time equivalency as approved by their academic department) in each enrolled semester and meet basic eligibility requirements. |
Deferral: | Principal only. Interest may be capitalized. To apply for an in-school deferment, Direct Parent PLUS borrowers should call the Direct Loan Student Loan Support Center at 1-800-557-7394. |