Federal Direct Loan Comparison Chart

Title

Eligibility

Amount

Interest Rate

Lender/Length of Repayment

Federal Direct Graduate PLUS Loan

  • The Free Application for Federal Student Aid (FAFSA) must be completed for Federal Direct PLUS eligibility to be determined.
  • You must be enrolled half time and be admitted into a graduate level program.
  • IMPORTANT NOTE:  A credit check is conducted by the U.S. Department of Education to establish eligibility.  You cannot have an adverse credit history.

The annual limit cannot exceed UNTD Cost of Attendance minus the other financial aid the student receives.

The current interest rate is 6.84 percent.  All interest rates and fees are valid only from July 1, 2015 through June 30, 2016.

Between 10 and 25 years to repay, depending on the amount owed and repayment plan selected.

Federal Direct PLUS (Parent) Loan

  • The Free Application for Federal Student Aid (FAFSA) must be completed for Federal Direct PLUS eligibility to be determined.
  • To apply, the parent borrower must log onto StudentLoans.gov to submit the Direct Parent PLUS Request. Detailed instructions for completing the Direct Parent PLUS Request are available here.
  • IMPORTANT NOTE:  A credit check is conducted by the U.S. Department of Education to establish eligibility.  You cannot have an adverse credit history.
  • Parents and their dependent child must be U.S. citizens or eligible noncitizens.
  • Students must be enrolled at least half-time each semester.

The annual limit cannot exceed UNTD Cost of Attendance minus the other financial aid the student receives.

The current interest rate is 6.84 percent.  Interest rates and fees are valid only from July 1, 2015 through June 30, 2016.

Between 10 and 25 years to repay, depending on the amount owed and repayment plan selected.

Federal Direct Stafford Subsidized Loan

  • Be enrolled at least half-time meet Satisfactory Academic Progress requirements
  • Be registered with the Selective Service (males only)
  • Be a U.S. citizen, national, or  eligible non-citizen
  • Have financial need, as determined by the Federal Processer based on the information reported on the FAFSA

Annual borrowing limits are based on the student's year of study:

Dependent undergraduates

  • First year:  $5,500 (no more than $3,500 of this amount may be subsidized)
  • Second year:  $6,500  (no more than $4,500 of this amount may be subsidized)
  • Third year and beyond:  $7,500 (no more than $5,500 of this amount may be subsidized)

Independent undergraduates (and dependent undergraduates whose parents are unable to borrow under the PLUS Loan Program)

  • First year:  $9,500 (no more than $3,500 of this amount may be subsidized)
  • Second year:  $10,500 (no more than $4,500 of this amount may be subsidized)
  • Third year and beyond: $12,500 (no more than $5,500 of this amount may be subsidized)

The current interest rate is 4.29 percent.  All interest rates and fees are valid only from July 1, 2015 through June 30, 2016.

Between 10 and 25 years to repay, depending on the amount owed and repayment play selected.

Federal Direct Stafford Unsubsidized Loan

  • Be enrolled at least half-time
  • Meet Satisfactory Academic Progress requirements
  • Be registered with the Selective Service (males only)
  • Be a U.S. citizen, national, or eligible non-citizen

Annual borrowing limits are based on the student's year of study:

Dependent undergraduates

  • First year:  $5,500 (no more than $3,500 of this amount may be subsidized)
  • Second year:  $6,500  (no more than $4,500 of this amount may be subsidized)
  • Third year and beyond:  $7,500 (no more than $5,500 of this amount may be subsidized)

Independent undergraduates (and dependent undergraduates whose parents are unable to borrow under the PLUS  Program)

  • First year:  $9,500 (no more than $3,500 of this amount may be subsidized)
  • Second year:  $10,500 (no more than $4,500 of this amount may be subsidized)
  • Third year and beyond: $12,500 (no more than $5,500 of this amount may be subsidized)

Graduate and professional students

  • For any year of study:  $20,500

The interest rate for unsubsidized loans is 4.29 percent for undergraduate students and 5.84 percent for graduate students.  All interest rates and fees are valid only from July 1, 2015 through June 30, 2016.

Between 10 and 25 years to repay, depending on the amount owed and repayment plan selected.

Below are the aggregate (total) limits for Direct Subsidized and Unsubsidized Loans:

  • $31,000 for dependent undergraduate students excluding those whose parents are unable to borrow a PLUS Loan (no more than $23,000 may be subsidized)
  • $57,500 for independent undergraduate students and dependent undergraduates whose parents are unable to borrow a PLUS loan (no more than $23,000 may be subsidized)
  • $138,500 for graduate or professional students (no more than $65,500 may be subsidized; includes loans for undergraduate study)

These aggregate limits include both Direct Subsidized and Unsubsidized Loans and any subsidized and unsubsidized Federal Stafford Loans received through the Federal Family Education Loan (FFEL) Program