Academic Programs Catalog

Undergraduate Education

Financial Aid for Undergraduates

Student Loans
Federal Direct Unsubsidized Loan

The Federal Direct Unsubsidized Loan is not based on need. Payment on the principal is deferred while the student borrower is enrolled at least half time. Interest is paid by the student borrower through quarterly payments, or if a student desires it can be capitalized i.e. added to the principal at the time the loan enters repayment. Interest rates vary annually, but the rate for the year the funds are borrowed are in effect for the life of that loan. The rate for 2024-25 is 6.53%.

Completion of the FAFSA is required for participation in the Federal Direct Unsubsidized Loan program.

Annual maximums for the Direct Unsubsidized Loans are:

Dependent Freshman $5,500
Dependent Sophomore $6,500
Dependent Junior/Senior $7,500
Independent Freshman $9,500
Independent Sophomore $10,500
Independent Junior/Senior  $12,500

Note that the maximums include both subsidized and unsubsidized
loans. For example, an independent freshman who receives a $3,500
subsidized loan can borrow no more than $6,000 in unsubsidized loan.

Lifetime loan limits for all Direct Subsidized and Unsubsidized Loans are:

Dependent undergraduate $31,000
Independent undergraduate $57,500