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Financial Aid
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Federal Direct Unsubsidized Loan

Direct Unsubsidized Loans are available to both undergraduates and graduates or professional degree students. You are not required to show financial need to receive a Direct Unsubsidized Loan. A Federal Direct Unsubsidized Stafford Loan is awarded as a non-need based loan after all other need based loans, grants, scholarships and other resources are subtracted or up to the annual maximum loan limit, whichever is lower. The federal government does not pay the interest on the loan. It is important that you only borrow what you need. If you decide to borrow a student loan, make sure you know who is providing the loan and the terms and conditions of the loan.

How to Apply

To apply for the Federal Direct Unsubsidized loan, the student must complete the FAFSA. To receive the Direct Unsubsidized loan, you must be enrolled at least half-time (6 credit hours for undergraduates, 5 hours for graduates) and be maintaining Satisfactory Academic Progress (the full policy can be found here). Generally, you must also be enrolled in a program that leads to a degree or a certificate awarded by the school. If the student is eligible for Direct Unsubsidized loans, the award amount will be posted on the student’s award letter on CougarNet.

Note: All first-time borrowers must complete Entrance Counseling and a Master Promissory Note (MPN) at studentloans.gov. Master Promissory Notes are valid for 10 years. If you are a transfer student and previously received loans, please contact our office.

Loan Fees

There is a loan fee on all Federal Direct Subsidized and Unsubsidized loans. The loan fee is a percentage of the loan amount and is deducted from each loan disbursement.

Current Interest Rates

For current Federal Direct Loans interest rates, click here. To learn more about how interest is calculated, click here.

How Will I Receive My Loan?

The school will first apply your loan funds to your school account to pay for tuition, fees, room and board, and other school charges. If any additional loan funds remain, they will be returned to you. All loan funds must be used for your educational expenses. All refunds are disbursed by the Office of the Bursar.

When Will Loan Repayment begin?

Federal student loan repayment begins after your 6 month grace period expires. See our Loan Repayment page for more information.

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