Federal Student Loans
The maximum amount a student may borrow is based on the program of study and demonstrated financial need. If the allowable cost of education exceeds the maximum Direct Loan eligibility the student may borrow from credit-based private loans, or the student's parent(s) may borrow from the Parent PLUS Loan. Entrance counseling is required for Federal Direct Loans.
Types of Federal Loan Programs
Federal Direct Subsidized Loan - Learn more »
A need-based loan where the government pays
the interest while the student is attending school on at
least a half-time basis, and during the 6 month after school grace
period. Up to 1% in allowable fees may be deducted from the loan
prior to disbursement. These funds must be repaid.
Federal Direct Unsubsidized Loan - Learn more »
A non-need based loan where the student is responsible
for all interest which accrues from the day of
disbursement (fixed interest rate of 6.8%). Up to 1% in allowable
fees may be deducted from the loan prior to disbursement. Repayment
begins 6 months after graduation. These funds must be
repaid.
Parent PLUS Loan - Learn more »
A credit-based, non-need loan applied for by the parent
of a dependent student. Interest accrues from the day of
disbursement at a fixed interest rate of 7.9%. Up to 2.5% in
allowable fees may be deducted from the loan prior to disbursement.
The maximum amount cannot exceed the approved cost of education
(including all other aid) for the loan period. Repayment begins 60
days following disbursement. See the Parent PLUS Authorization Form for eligibility
criteria and instructions on completing the application
process.
More Information
View the most recent federal loan interest rates.
Most loan and scholarship programs require students to maintain standards of satisfactory academic progress.
Allowable Loan Maximums - Undergraduate
| Loan Program | Maximum Per Academic Period |
| Federal Direct - Dependent | $5,500 |
| Federal Direct - Independent | $9,500 |
Note: Students may borrow up to the maximum amount over three trimesters. The allowable amount is a combination of subsidized and unsubsidized loans, depending on eligibility.
