These loan limits apply to either a subsidized or an unsubsidized loan or to a combination of both loans. Additional Unsubsidized Direct Loans are available to some students. These loans may also be available to students whose parents fail to meet credit criteria for a Federal Direct PLUS loan. These additional borrowing limits are for the Unsubsidized Direct Loan only and are in addition to the maximum annual Direct Loan for each class year as stated above. Any amount borrowed for summer enrollment may reduce the amount for which a student is eligible during the next academic year.
Interest rates are the same for both subsidized and unsubsidized loans.
A three-percent origination and guarantee fee will be deducted from all loans before disbursement. Federal regulations require that a debt counseling session be completed by all first-time borrowers before the disbursement of a Direct Loan. The rights and responsibilities of borrowers are reviewed at this time. The requirement may be met by completing the entrance interview counseling session on the StudentLink Web site . Borrowers can also attend an on-campus group counseling session.