|Graduate Students|| |
|Tuition for 2020-21||$620 per credit|
The Unsubsidized Direct Loan is a federal student loan for which eligible students borrow directly from the U.S. Department of Education. The borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan. Repayment for this loans begins after graduation or when the student drops below part-time.
Requirements for unsubsidized graduate assistance:
- Student must fill out FAFSA form at FAFSA.ed.gov.
- Student must be enrolled at least half time. (6 credit hours for graduate students)
- Annual limit is $20,500 for unsubsidized.
- Current fixed interest rate for unsubsidized loan is 6.08% as of 7/1/19.
- Current origination fee is 1.059% as of 10/1/19. (This fee is deducted up front and thus lowers the actual net amount of each disbursement that appears on your tuition bill.)
- Rates may change depending on legislation so please visit the Federal Student Aid Interest website for the most current information.
- Lifetime limit is $138,500 for graduate or professional students — no more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.
- Loans are disbursed at the start of each academic term.
- If the interest is capitalized (allowed to accumulate) it will be added to the principal amount of the loan and will increase the amount the borrower will have to repay.
If the choice is made to pay the interest as it accumulates, the total interest charges paid during repayment will be considerably less. Payments would be made directly to your federal loan servicer.