The FDSL maximums vary depending on the student's class level and dependency status. Sophomore 7,500 Junior, Senior 10,500 Credential 10,500 Classified Graduate 18,500 For all Federal Direct Student Loans, the interest rate is variable and is dependent upon the 91-day Treasury bill, plus 3.1 percent with a cap of 8.25 percent. An origination and an insurance fee totalling four percent will be deducted from the loan amount before the disbursement. An entrance interview is required for all first-time borrowers. Financial need is not a factor in determining a student's or parent's eligibility for this loan program.
Interest begins to accrue when the loan is disbursed.
Repayment begins 60 days after the loan is disbursed. The loan limit for Parent Loans is equal to the student's budget less financial aid awarded. Students may pick up an application in the Student Financial Services Office, ADM 351. Counselors are available to assist students in person or at the phones during office hours.