Unsubsidized Direct Loan
Effective as of March 26, 2015, the Unsubsidized Direct Loan information has been updated.
Unsubsidized Direct loans are available for students to borrow for additional education costs. Independent students can borrow up to $9,500 for their first academic year, $10,500 for the second academic year, and $12,500 for their third and fourth academic years, as a combined total with the Federal Subsidized Direct loan, at a fixed interest rate. Current interest rates can be found at https://studentloans.gov. Dependent students whose parents do not qualify for a PLUS loan can borrow up to $9,500 for their first academic year as a combined total with the Federal Subsidized Direct loan, $10,500 for their second academic year and $12,500 for their third and fourth academic years With the exception of demonstrating financial need and undergraduate status, borrowers must meet all eligibility criteria of the Federal Subsidized Direct loan program. Interest payments begin immediately after the loan is fully disbursed or may be added to the principal balance. Regular payments begin six months after students cease enrollment or fail to carry at least one-half the normal full-time school workload.