Loans

overhead view of woman filling out loan paperwork

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 the Graduate PLUS Loan. Entrance counseling is required for both Federal Direct Loans and Graduate PLUS Loans.

Overview

Types of Federal Loan Programs

Federal Direct Subsidized Loan

As of July 1, 2012 the federal government removed the interest-free subsidy on the subsidized Direct Loan for graduate students.

Federal Direct Unsubsidized Loan

A non-need based loan where the student is responsible for all interest which accrues from the day of disbursement (view interest rate chart). A loan fee of approximately 1% will be deducted from the loan prior to disbursement. Repayment begins 6 months after graduation. These funds must be repaid.

Federal Graduate PLUS Loan

A credit-based, non-need loan where the student is responsible for all interest which accrues from the day of disbursement (view interest rate chart). A loan fee of approximately 4% will 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 immediately following graduation. These funds must be repaid.

More Information

Most loan and scholarship programs require students to maintain standards of satisfactory academic progress.

Loan Maximums

Allowable Loan Maximums

Loan Program Maximum Per Period
DC Direct Unsub Academic Period Max $31,612
ND Direct Unsub Academic Period Max $38,278
Master’s Programs
$20,500
Undergrad Up to $12,500*

Note: A period is two trimesters.
* Dependency and Grade level dependent

Aggregate Direct Loan Maximums – DC

Loan Program Maximum
Max Direct Subsidize $65,500
Combined Direct Sub and Unsub Agg Max $138,500
Aggregate Direct Loan Maximums- DC & ND $224,000

Aggregate Direct Loan Maximums – Undergrad

Loan Program Maximum
Direct Subsidize $23,000
Combined Direct Sub and Unsub $57,500*

* Dependency and Grade level dependent