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Federal Direct Subsidized and Unsubsidized Loan Features for Undergraduate Students
- 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.
- Loan origination fee is 1.051%.
- Repayment begins 6 months after you graduate, drop below half time, or withdraw. Learn more about managing repayment of your student loans.
- Subsidized loans with a disbursement date on or after July 1, 2012 will not be eligible for subsidized interest benefits during the six-month grace period after a student graduates or falls below half-time enrollment. Interest will accrue during the grace period and will be capitalized if unpaid by the borrower.
Fixed Interest Rates
|Date of First Disbursement||Subsidized||Unsubsidized|
|7/1/10 - 6/30/11||4.5%||6.8%|
|7/1/11 - 6/30/13||3.4%||6.8%|
|On or after 7/1/13 *||6.8%||6.8%|
* Congress passed a bill lowering the Subsidized Stafford Loan interest rate to 3.4% for the 2012-2013 year. It is currently set to expire on 6/30/13, and unless other action is taken, the rate will rise to 6.8%.