Direct Loan - Unsubsidized
- Not a need-based loan.
- Loans disbursed on or after July 1, 2006 have a fixed interest rate of 6.8%.
- Loans disbursed prior to July 1, 2006, will continue to have a variable interest rate capped at 8.25%.
- The loan plus need-based aid may not exceed the total cost of attendance.
- Interest is charged from the date of the first disbursement. Interest may be paid while in school or paid later.
- First-time borrowers that have been offered a Direct Stafford Loan should complete a master promissory note (MPN) online via the Promissory Note page on this website.
- In addition to completing a MPN, first-time Stafford loan recipients must also complete entrance loan counseling before any loan proceeds can be disbursed. This is comprised of an online tutorial and quiz. Borrowers needing to complete entrance loan counseling via the Direct Loan Counseling page on this website.
- The maximum awards differ by grade level, dependency status, and length of academic program.
- Repayment begins 6 months after the borrower graduates, leaves school, or drops below half-time status.
- Repayment may be deferred or modified under certain conditions. There are several repayment plans available.