Entrance Counseling is required for the following Federal loan types:
Students do not need to demonstrate financial need.
You must enroll for at least 6 credits (or 24 Graduate Units) for each semester that you want to receive the loan.
The Department of Education is authorized to charge the borrower origination and guarantee fees. For loans disbursed before October 1, 2016 – the origination fee will be 1.068%. For loans disbursed on or after October 1, 2016 – the origination fee will be 1.069%. The current guarantee fee is ZERO. Fees are deducted from each semester’s disbursement.
Interest accrues while the student is enrolled in school and during the repayment period.
The Federal Direct Unsubsidized Loan for undergraduate students has a 3.76% fixed interest rate. The Federal Direct Unsubsidized Loan for graduate students has a 5.31% fixed interest rate.
Direct Loan repayment begins 6 months after you cease to be enrolled at least half-time. The Standard Repayment Period is 10 years but you may change your repayment plan with your Direct Loan Servicer if necessary.