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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 who have been offered a Direct Stafford Loan should complete a master promissory note (MPN) online via the Promissory Note page.
  • In addition to completing a MPN, first-time Stafford loan borrowers must also complete entrance loan counseling before any loan proceeds can be disbursed. The counseling includes an online tutorial and a quiz. Borrowers should complete entrance loan counseling via the Direct Loan Counseling page.
  • 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.