Detailed terms for Federal Direct Loans
- full or half-time graduate students
- U.S. citizen/national or an eligible non-citizen
Annual Limits/Aggregate Limits
Graduate level – $33000 Direct Unsubsidized per academic year. The overall aggregate maximum is $224,000 (including undergraduate loans). Note: the Direct Subsidized loan has an overall aggregate of $65,500.
The total amount graduate students may borrow under the Federal Stafford Loan program is $33,000/9 months or $44,000/12 months (all monies will be unsubsidized).
The fixed interest rate for all Direct Unsubsidized loans first disbursed on or after July 1, 2016 and before July 1, 2017 is 5.31% percent during in-school, deferment and repayment.
The law continues to authorize the Department of Education to offer interest rate reductions to Direct Loan borrowers who agree to have electronic payments automatically debited from a bank account.
Effective October 1, 2015, the government charges a 1.068% origination fee of the loan amount (deducted from the loan before it is disbursed).
Repayment begins six months (grace period) after the month in which you cease attending school at least half time. The standard repayment period is 10 years and an extended plan up to 25 years is available to students. During repayment a variety of plans will be available to assist borrowers in meeting repayment obligations, including: Income Based Repayment (IBR), graduated repayment, and standard plan.