If you are a student from the USA, you may be eligible for loans offered under the Federal Direct Loans Program.
To be eligible for any of the loans listed, you must be:
This loan is for students with demonstrated financial need as determined by the federal regulations. No interest is charged:
Loan repayments start when after one of the following:
This loan is not based on financial need and interest accrues on the loan from the time the loan is paid out. You can choose to pay the interest while studying or you can allow it to accumulate until your loan repayments start when one of the following happens:
Allowing the interest to accumulate adds to your loan amount and may increase your monthly repayments.
This loan can help pay for educational expenses up to the cost of attendance, minus all other financial assistance. You are required to pass a credit check. Interest accrues on the loan from the time the loan is paid out.
Graduate students are strongly encouraged to apply for both subsidized and unsubsidized Direct loans before applying for a PLUS.
New loans will have the following interest rates:
| Max subsidized amount in (USD$) | Max combined subsidized and unsubsidized amounts (USD$) | |
|---|---|---|
| Dependent undergraduates | ||
| 1st year | $3,500 | $5,500 |
| 2nd year | $4,500 | $6,500 |
| 3rd year and up | $5,500 | $7,500 |
| Independent undergraduates | ||
| 1st year | $3,500 | $9,500 |
| 2nd year | $4,500 | $10,500 |
| 3rd year and up | $5,500 | $12,500 |
| Graduate/professional students | ||
| $8,500 | $20,500 | |
| Maximum total debt from Direct Loans when you graduate | ||
| Max subsidized and unsubsidized amounts combined | ||
| Dependent undergraduates | $31,000 (not more than $23,000 subsidized) | |
| Independent undergraduates | $57,500 (not more than $23,000 subsidized) | |
| Graduate/professional students | $138,500 (not more than $65,500 subsidized) | |