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Calendar

MAR 1
 

Summer Financial Aid Application Open

MAY 12
 

Summer Work-Study Begins

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%.