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Undergraduate Loan Information

Undergraduate Loan Information

Types of Federal Loans

For more detailed information, please visit the .
Visit our Private Loan page for more information.

Federal Direct Subsidized Loan

Awards are available to undergraduate students with financial need, enrolled at least half-time in a degree-seeking program.

  • Annual award: up to $5,500 (depending on grade level - see chart below)
  • Interest rate: 5.50% fixed (for loans disbursed 7/1/23 - 6/30/24)

Federal Direct Unsubsidized Loan

Awards are available to undergraduate students enrolled at least half-time in a degree-seeking program.

  • Annual award: up to $12,500 (depending on dependency status and subsidized loan eligibility - see chart below)
  • Interest rate: 5.50% fixed (for loans disbursed 7/1/23 - 6/30/24)

 

Annual Federal Direct Loan amounts* are:

  Dependent students Independent Students #
  Subsidized Unsubsidized Subsidized Unsubsidized
0-29 credits $3,500 $5,500 (less subsidized award) $3,500 $9,500 (less subsidized award)
30-59 credits $4,500 $6,500 (less subsidized award) $4,500 $10,500 (less subsidized award)
60+ credits $5,500 $7,500 (less subsidized award) $5,500 $12,500 (less subsidized award)
Aggregate (lifetime) loan limit $23,000 $31,000: including subsidized aid $23,000 $57,500: including subsidized aid

Note: if you change grade levels in the middle of an academic year, and become eligible for an additional $1,000 in aid, please contact us to review your financial aid.
* This reflects the maximum loan amount a student may receive in a single academic year. Depending on eligibility, the amount may be less.
# Also includes dependent undergrad students whose parents are unable to obtain a Parent Plus loan.

 

Federal Direct Parent PLUS Loan

Credit-based loan for parents of dependent students enrolled at least half-time.  

  • Annual award: up to (less any other aid received). 
  • Interest rate: 8.05% fixed (for loans disbursed 7/1/23 - 6/30/24)
  • To apply, go to . The parent must sign in with their FSA ID to apply.
  • The application for the 2024-2025 academic year opens April 1, 2024.