Direct Loan Program

A federal subsidized and unsubsidized loan program available to all students. Maximum loan amounts are $5,500 (no more than $3,500 may be subsidized) for freshmen, $6,500 (no more than $4,500 may be subsidized) for sophomores, and $7,500 (no more than $5,500 may be subsidized) for juniors and seniors. The maximum loan amount for a graduate student is $20,500. Effective loan interest rates for the 2019-2020 academic year: Subsidized loans, 4.23%; Unsubsidized, 4.23%; Graduate loan interest rates: 6.08%. Repayment of the interest and principal begins six months after graduation or enrollment ceases. An Entrance Interview and Exit Interview are also required for any student receiving a Direct Loan. To apply for a Direct Loan, students must complete the FAFSA on line at www.fafsa.gov. Entrance and Exit Interviews must be completed on line at studentloans.gov.