Federal Loan Programs

Loan Programs Program Details Annual Award Limits
Federal Direct Subsidized Student Loan Subsidized: U.S. Department of Education pays interest while borrower is in school; you must be at least a half-time student and have financial need. $3,500 to $5,500, depending on grade level.
Graduate students are no longer eligible for this loan.
Federal Direct Unsubsidized Student Loan Unsubsidized: Borrower is responsible for interest during the life of the loan; you must be at least a half-time student; financial need is not a requirement. $2,000 to $20,500 (less any subsidized amounts received for the same time period), depending on grade level and dependency status.
Federal Direct Parent Loan (PLUS)

Available to parents of dependent undergraduate students enrolled at least half time. Financial need is not a requirement.

PLUS loans are unsubsidized: Borrower is responsible for interest during the life of the loan.

Maximum amount is cost of attendance minus any other financial aid the student receives; no minimum award amount
Federal Grad PLUS Loan

Available to graduate students enrolled at least half-time (6 hours). Financial need is not a requirement.

Graduate PLUS Loans are unsubsidized: Borrower is responsible for interest during the life of the loan.


Maximum amount is cost of attendance minus any other financial aid the student receives; no minimum award amount.

Loans must be repaid, but students are not required to do so until after they graduate or unless they drop below half-time enrollment at the university. A loan fee may be deducted from certain student and parent loan disbursements. The gross loan amount minus the loan fee is then credited toward bill payment at the university. The net disbursement will be indicated on the loan disclosure statement.