| LOAN TYPES |
INTEREST |
FEES RATE |
AMOUNTS |
REPAYMENT AVAILABLE |
| NON-NEED BASED LOANS |
| FEDERAL DIRECT UNSUBSIDIZED LOAN (Graduate) |
6.54% as of July 1, 2022. |
1.057% origination fee deducted from your loan. First disbursement on or after 10/1/2022 before 10/1/2023. |
Graduate, $20,500. |
The borrower is responsible for interest charges from the date the loan is disbursed. Repayment begins 6 months after graduation withdrawal or dropping below half-time status. $50 minimum monthly payment. Up to 10 years to repay. |
| FEDERAL DIRECT GRAD PLUS LOAN |
7.54% as of July 1, 2022. |
4.228% origination fee deducted from your loan. First disbursement on or after 10/1/2022 before 10/1/2023. |
Graduate and professional degree students must apply for maximum annual loan amount under the Federal Unsubsidized Loan Program. Loan amount is up to the cost of attendance minus other financial aid. |
Repayment begins within 60 days after the loan is fully disbursed. Payments can be postponed while in school, via a request to the lender. $50 minimum monthly payment. Up to 10 years to repay. |
| FEDERAL DIRECT CONSOLIDATION LOAN |
Weighted average of all the loans you consolidate rounded up to the nearest whole percent. |
No additional fees to the borrower. |
Based upon the loans you consolidate. |
Repayment may be based on a fixed, income sensitive or graduated repayment plan. The number of years you have to repay the loan depends on the outstanding student loan balance. For more information on consolidating your loans, contact your loan servicer. |
Sample Repayment Chart for Federal Direct Loans
(Example based on 2022-2023 6.54%* during repayment period)
*Rate for Graduate students during 2022-2023
| AMOUNT BORROWED |
NUMBER OF PAYMENTS |
PAYMENT AT TIME OF REPAYMENT |
TOTAL INTEREST |
TOTAL FINANCED |
| $1,000 |
21 |
$50 |
$62 |
$1,062 |
| $2,000 |
45 |
$50 |
$262 |
$2,262 |
| $5,000 |
120 |
$57 |
$1,825 |
$6,825 |
| $10,000 |
120 |
$114 |
$3,650 |
$13,650 |
| $20,500 |
120 |
$233 |
$7,483 |
$27,983 |
| $41,000 |
120 |
$466 |
$14,966 |
$55,966 |
| $60,000 |
120 |
$683 |
$21,901 |
$81,901 |
| $75,000 |
120 |
$853 |
$27,376 |
$102,376 |
| $90,000 |
120 |
$1,024 |
$32,852 |
$122,852 |
| $100,000 |
120 |
$1,138 |
$36,502 |
$136,502 |
| $110,000 |
120 |
$1,251 |
$40,152 |
$150,152 |
| $120,000 |
120 |
$1,365 |
$43,802 |
$163,802 |
| $130,000 |
120 |
$1,479 |
$47,453 |
$177,453 |
| $138,500 |
120 |
$1,575 |
$50,555 |
$189,055 |
|
