Student Loan Information
| Federal Direct Subsidized and Unsubsidized Loan | Federal Direct Unsubsidized Loan | Federal Direct PLUS Loan (Parent or Grad/Professional) | |
| Interest Rates (loans disbursed on or after July 1, 2023 and before July 1, 2024) |
5.50% | 7.05% | 8.05% |
| Interest Rates (loans disbursed on or after July 1, 2024 and before July 1, 2025) |
6.53% | 8.08% | 9.08% |
| Interest During School | Subsidized is deferred Unsubsidized accrues if not paid |
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 | 1.057% | 1.057% | 4.228% |
| FAFSA Required | Yes | Yes | Yes |
| Satisfactory Academic Progress Standards must be met | Yes | Yes | Yes |
| Borrower Type | Undergraduate Students | Graduate/Professional 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 FY21, FY22, FY23, FY24, and FY25
| Loan Type | First Disbursed | Loan Fee Percent | Fee Example |
| Direct Subsidized Loans and Direct Unsubsidized Loans |
On or after October 1, 2020 and before October 1, 2025 |
1.057 | $58.13 on a $5,500 loan |
| Direct PLUS Loans (Parent and Grad/Prof Student) |
On or after October 1, 2020 and before October 1, 2025 |
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).