Borrowers can choose from a variety of repayment plans to fit their financial circumstances and can change plans if those circumstances change. Information regarding deferment provisions and repayment options is available at the Student Business Services loan counseling web site as well as on the Department of Education's Direct Loan web site. Federal Direct Unsubsidized Stafford Loans. The Direct Unsubsidized Loan is not based on financial need and is available to all eligible students, regardless of income. There is no federal interest subsidy for the loan.
Interest accrues immediately upon disbursement.
Borrowers may elect to pay accrued interest on a monthly or quarterly basis or have it added back to the principal balance in a process called capitalization. The terms and conditions regarding origination fees and repayment options for Direct Unsubsidized Loans are the same as for Direct Subsidized Loans. Annual and aggregate loan limits vary based on dependency status and grade level. Eligible students may borrow the cost of attendance less any estimated financial assistance up to the annual loan limits for their grade level. Students' eligibility for Subsidized Loans is computed before Unsubsidized Loans are awarded.