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Office of Financial Aid and Scholarships

Division of Student Life and Enrollment

Student Loan Information

  Federal Direct Subsidized Loan Federal Direct Unsubsidized Loan Federal Direct PLUS Loan (Parent or Grad/Professional)
Interest Rates
(loans disbursed on or after July 1, 2020 and before July 1, 2021)
2.75% (Fixed) Undergraduate: 2.75% (Fixed)
Graduate: 4.30% (Fixed)
5.30% (Fixed)
Interest During School Deferred Accrues if not paid Accrues if not paid
Repayment Grace Period
(after graduating/ leaving school/ dropping below half time)
6 months 6 months Must apply to Direct Loans for approval for deferred payments.
Processing Fee
1.059% 1.059% 4.236%
FAFSA Required Yes Yes Yes
Satisfactory Academic Progress Standards must be met Yes Yes Yes
Borrower Type Undergraduate Students Undergraduate & Graduate Students Parents of Dependent Undergraduate Students and Graduate/Professional Students

 

Please refer to the Student Aid Website if you have further questions.

 

Direct Loan Fees for FY 20 and FY21

 Loan Type First Disbursed Loan Fee Percent Fee Example
Direct Subsidized
Loans and Direct
Unsubsidized
Loans
FY 20
On or after
October 1, 2019 and before
October 1, 2020
1.059 $58.24 on a
$5,500 loan
FY 21
On or after
October 1, 2020 and before
October 1, 2021
1.057 $58.13 on a
$5,500 loan
Direct PLUS
Loans (Parent
and Grad/Prof
Student)
FY 20
On or after
October 1, 2019 and before
October 1, 2020
4.236 $423.60 on a
$10,000 loan
FY 21
On or after
October 1, 2020 and before
October 1, 2021
4.228 $422.80 on a
$10,000 loan

Loan fee calculations that result in more than two decimal places must be truncated to two digits after the decimal point (cents).

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