The interest rate for loans first disbursed between July 1, 2021 and June 30, 2022
The interest rate for loans first disbursed between July 1, 2022 and June 30, 2023
Loan fees are deducted proportionately from each loan disbursement, so the amount
you receive is less than the amount you accept. The fee amount for Federal Direct
Subsidized Loans first disbursed between October 1, 2020 and before October 1, 2023
For additional information regarding loan fees and interest rates, please go to studentaid.gov.
Repayment of Federal Direct Subsidized Loans:
This is a loan that must be repaid, including any interest accrued.
Interest does not accrue while you are in school attending at least half-time. It
begins to accrue six months after you drop below half-time enrollment
Repayment begins 6 months after you drop below half-time enrollment
The Department of Education is the lender, but payment will be made to a servicer
appointed by the Department.
Loan history and servicer contact information is found by logging into studentaid.gov.
Information on repayment plans, consolidation, deferment, and loan simulation, etc.
is found at studentaid.gov.
Maximum Loan Limits:
Annual Limit: Maximum loan limits apply on an annual basis. For more information
about annual borrowing limits, see studentaid.gov.
Aggregate Limits: Maximum loan limits apply to the total amount you can borrow over
the course of your education. For more information about aggregate borrowing limits,
Time Limit: First-time borrowers may not receive subsidized loans for more than 150%
of the length of the degree program. (For example, 150% of the program length for
a student working towards a 4-year first bachelor’s degree would be 6 years). Exceeding
the time frame to receive a degree results in loss of the interest subsidy. Transferring
to a shorter program may also result in loss of the interest subsidy (For example,
transferring from a four-year bachelor’s degree program to a two-year associate’s
degree). For additional information, see studentaid.gov.
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