Federal Direct Unsubsidized Loan

Eligibility

Complete FAFSA
Financial need is not a requirement.
Must be enrolled at least half-time
Must complete a Direct Loan Master Promissory Note and Entrance Counseling prior to first disbursement
Exit Interview required after student drops below half time

Interest Rates

Fixed interest rate of 4.3 percent for loans first disbursed on or after July 1, 2020, and before July 1, 2021
Fixed interest rate of 5.28 percent for loans first disbursed on or after July 1, 2021, and before July 1, 2022
Borrower is responsible for interest during life of the loan.

Loan Fees

First Disbursement Date	Loan Fee
On or after Oct. 1, 2020, and before Oct. 1, 2021	1.057 percent
On or after Oct. 1, 2021, and before Oct. 1, 2022	1.057 percent

Direct Loan Master Promissory Note

Once the Federal 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 is 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) by logging into your financial aid account in SharkLink.

Annual Loan Limits - Direct Loan

loans for loan periods beginning before July 1, 2012
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

loans for periods beginning on or after July 1, 2012
Student Type	Combined Base Limit for Subsidized and Unsubsidized Loans	Limit for Unsubsidized Loans	Total Limit for Unsubsidized Loans
Graduate and Professional Students	$0	$20,500	$20,500
Medical School Students	$0	$40,500	$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

Student does not have to pay the principal while enrolled at least half-time, but will be charged interest. Student can defer interest but it will be capitalized (added to principal loan balance) later. For information on minimizing your student loan debt by making interest payments while in school, visit the Unsubsidized Direct Loan Scenarios Web page.