Graduate Student Grants and Loans
Federal Direct Subsidized Loan
Please note: As of July 1, 2012, this loan will no longer be available. Graduate and first professional students may continue to apply for Federal Direct Unsubsidized Loans.
Eligibility
- Complete FAFSA
- Demonstrate financial need.
- Awarded to graduate students
- Must enroll at least halftime.
- Must complete a *Direct Loan Master Promissory Note and Entrance Interview prior to first disbursement.
- Exit Interview required after student drops below half time.
Interest Rates
- Fixed rate of 6.8% on loans first disbursed on or after July 1, 2006.
- U.S. Dept. of Education pays interest while borrower is in school, during grace, and during deferment periods
Annual Loan Limits
| Annual Loan Limits - Direct Loan | |||
|---|---|---|---|
| Student Type | Combined Base Limit for Subsidized and Unsubsidized Loans | Additional Limit for Unsubsidized Loans | Total Limit for Unsubsidized Loans (minus subsidized amounts) |
| Graduate and Professional Students | $8,500 | $12,000 | $20,500 |
| Medical School Students | $8,500 | $32,000 | $40,500 |
Aggregate Loan Limits
| Aggregate Loan Limits - Direct Loan | |||
|---|---|---|---|
| Student Type | Combined Base Limit for Subsidized and Unsubsidized Loans | Additional Limit for Unsubsidized Loans | Total Limit for Unsubsidized Loans (minus subsidized amounts) |
| Graduate and Professional Students | $65,500 (including undergraduate Direct loans) |
$73,000 | $138,500 |
| Medical School Students (Effective 4/18/08 per DCL GEN-08-04) |
$65,500 (including undergraduate Direct loans) |
$158,500 | $224,000 |
Repayment
Interest subsidized by U.S. Department of Education while borrower is in school at least half-time and during grace and deferment periods. There is a 6 month grace period after student ceases enrollment for less than half-time.
Important Details *
Once the Direct loan has been awarded and guaranteed, the Department of Education will send you a notification to complete the MPN. Loan funds will not be disbursed until the borrower completes the MPN.
You are only required to complete an MPN one time as it can be used for up to 10 years of borrowing for educational expenses. A new MPN must be signed if you cease enrollment for one full academic year or if your MPN has expired after 10 years. Each academic year, all students using the MPN will be notified of their loan eligibility. You may accept, reduce, or decline your loan(s) in NSU's WebSTAR system.