Calendar

MAY 9

Last day to apply for a PLUS Loan for students enrolled Spring

MAY 12

Last day to work Spring work study

Federal Direct Subsidized and Unsubsidized Loan Features

Subsidized loans are need-based and do not have interest accruing while you are in school or in deferment.
Unsubsidized loans may or may not be based on financial need and interest accrues while you are in school or in deferment.
Beginning July 1, 2010, the interest rate for new undergraduate subsidized is a loan fixed 4.5%. The interest rate for unsubsidized loans and graduate subsidized loans is a fixed 6.8%.
Beginning July 1, 2010, the new loan origination fee will be 1.0%. A 0.5% rebate will be applied upfront to the loan and you can keep this rebate as long as you make 12 consecutive payments when the loan enters repayment.
Repayment begins 6 months after you graduate, drop below half time, or withdraw. Learn more about managing repayment of your student loans.