There is no other application necessary to be considered for these loans. You will automatically be awarded a loan equal to your maximum eligibility. These loans are paid directly to the student's billing account at Ferris. Repayment begins 6 months after the student graduates or drops below half-time enrollment. Unsubsidized Direct Loans are not need-based.
Interest does accrue on the loan while the student is in school.
The student may choose to defer the interest on these loans until after graduation or attendance drops below half-time. It is in the students' best interests to pay the interest while in school. Please refer to the chart below to determine your maximum loan amount per year. These are the maximum loan limits per year. You may qualify for less depending on other aid and the length of enrollment period.