Types of Federal Loans
For more detailed information, please visit the Federal Student Aid site.
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 |
|
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 https://studentaid.gov. The parent must sign in with their FSA ID to apply.
- The application for the 2026-2027 academic year opens April 1, 2026.