FEDERAL UNSUBSIDIZED DIRECT LOAN
The Federal Unsubsidized Direct Loan is not subsidized by the Federal Government. Therefore, the student is responsible for paying interest on the loan while he/she is in school. Students need to complete the Free Application for Federal Student Aid to qualify for this program. There is no priority funding deadline to qualify for this program. Students need to enroll at least half-time to be eligible for this loan.
The base annual limits for the Federal Unsubsidized Direct Loans (combined subsidized and unsubsidized) are:
• $3,500 for 1st year undergraduate students base amount. Additional unsubsidized loan amount $2,000.
• $4,500 for 2nd year undergraduate students base amount. Additional unsubsidized loan amount $2,000.
• $5,500 for 3rd & 4th year undergraduate students base amount. Additional unsubsidized loan amount $2,000
(Bachelor of Applied Science Degree Only)
Independent students can also borrow additional amounts in the Federal Unsubsidized Direct Loan:
• $3,500 for 1st year undergraduate students base amount. Additional unsubsidized loan amount $6,000
($9,500 total combined subsidized and unsubsidized)
• $4,500 for 2nd year undergraduate students base amount. Additional unsubsidized loan amount $6,000
($10,500 total combined subsidized and unsubsidized)
• $5,500 for 3rd & 4th year undergraduate students base amount. Additional unsubsidized loan amount $7,000
($12,500 total combined subsidized and unsubsidized)
(Bachelor of Applied Science Degree Only)
There is a six month grace period before repayment begins, which means students do not begin repaying the loan principal until six months after the student either withdraws, graduates, or falls below half-time status. This loan may also carry some teacher cancellation provisions.
For additional information regarding this program go to Studentloans.gov.
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