Types of Federal Loans
For more detailed information, please visit the .
Visit our Private Loan page for more information.
Federal Direct Subsidized Loan
Awards are available to undergraduate students with financial need, enrolled at least half-time in a degree-seeking program.
- Annual award: up to $5,500 (depending on grade level - see chart below)
- Interest rate: 6.52% fixed (for loans disbursed 7/1/26 - 6/30/27)
Federal Direct Unsubsidized Loan
Awards are available to undergraduate students enrolled at least half-time in a degree-seeking program.
- Annual award: up to $12,500 (depending on dependency status and subsidized loan eligibility - see chart below)
- Interest rate: 6.52% fixed (for loans disbursed 7/1/26 - 6/30/27)
Annual Federal Direct Loan amounts* are:
| Dependent students | Independent Students # | |||
| Subsidized | Unsubsidized | Subsidized | Unsubsidized | |
| 0-29 credits | $3,500 | $5,500 (less subsidized award) | $3,500 | $9,500 (less subsidized award) |
| 30-59 credits | $4,500 | $6,500 (less subsidized award) | $4,500 | $10,500 (less subsidized award) |
| 60+ credits | $5,500 | $7,500 (less subsidized award) | $5,500 | $12,500 (less subsidized award) |
| Aggregate (lifetime) loan limit | $23,000 | $31,000: including subsidized aid | $23,000 | $57,500: including subsidized aid |
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Note: if you change grade levels in the middle of an academic year, and become eligible
for an additional $1,000 in aid, please contact us to review your financial aid. |
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Federal Direct Parent PLUS Loan
Credit-based loan for parents of dependent students enrolled at least half-time.
- Annual award: Parents may borrow up to $20,000 per year per student, with a lifetime limit of $65,000
per child.
- Note: this means if a parent borrows $20,000 for three years, only $5,000 of borrowing will be left for year four.
- Parents may want to consider borrowing at $16,250/year maximum to evenly apportion the $65,000 limit over four years.
Limits are student-based, so each parent may not borrow the $65,000 for the same student. It is $65,000 total per student between either or both parents. - Interest rate: 9.07% fixed (for loans disbursed 7/1/26 - 6/30/27)
- To apply, go to . The parent must sign in with their FSA ID to apply.
- The application for the 2026-2027 academic year opens April 1, 2026.