You may be eligible for a direct subsidized loan or direct unsubsidized loan if you are an undergraduate student who is enrolled at least half-time in an eligible program leading to a degree or certificate. If you are a graduate or professional degree student, you may be eligible to receive a Direct Unsubsidized Loan. The difference between Direct Subsidized Loans and Unsubsidized Loans is that Direct Subsidized Loans have slightly better terms to help out students with financial need.