Low-interest loans can help you pay your college tuition now and defer repayment until after you graduate or are no longer a college student. Educational loans are available for both you and your parents. Student accounts are credited with loan funds once the required promissory notes and other application steps are completed.

  • Eligibility is granted to students who complete the FAFSA
  • Loan amounts range from $5,500 to $7,500 for dependent students and total $12,500 for independent students. Actual amounts will be shown on each student's financial aid notification.
  • Subsidized loans are based on financial need; while you are in college, the government pays the interest on your loan. Unsubsidized loans are available to students who don't show financial need; students with unsubsidized loans are responsible for loan interest payments while in college or may choose to defer payment until after graduation.
  • Undergraduate subsidized and unsubsidized Direct Loan interest rate: 5.5% for 2023–24 and 6.53% for 2024–25; the origination fee is 1.057%
  • Graduate unsubsidized Direct Loan interest rate: 7.05% for 2023–24 and 8.08% for 2024–25; the origination fee is 4.228%
  • Repayment starts 6 months after graduation or your student status drops below half time
  • Repayment timeline: between 10 and 25 years
  • Learn more about the  Federal Direct Loan Program


Maximum loan limits for direct loans
Year Dependent students Independent students Subsidized maximum
Freshman (0-23 credits) $5,500 $9,500 $3,500
Sophomore (24-54 credits) $6,500 $10,500 $4,500
Junior and above (55+ credits) $7,500 $12,500 $5,500
  • Includes Grad PLUS Loan for eligible graduate or professional students, and Parent PLUS Loan for parents of dependent undergraduate students
  • Applicants need to complete the FAFSA
  • Parents/guardians or graduate students may apply for funds to apply toward educational expenses
  • Interest rate: 8.05% for 2023–24 and 9.08% for 2024–25; origination fee: 4.228%
  • Repayment starts within 60 days of the final disbursement for the current year; payments may be postponed until 6 mos. after the student has graduated or is no longer at least a half-time student
  • Repayment timeline: 10 years
  • Learn more about the  Federal PLUS Loan program
  • Students apply through a bank or lending agency
  • Interest rates vary based on creditworthiness
  • Cosigners are required
  • Repayment terms vary based on the bank or lending agency
  • Learn more about supplemental private loans