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Eligibility Criteria

  1. Enrolled at least half-time
  2. Not in default on another student loan
  3. Must show financial need
  4. U.S. citizen or eligible non-citizen
  5. Maintain Satisfactory Academic Progress

Amounts and selection process

The exact amount will vary depending on financial need.

Annual Federal Direct subsidized Loan amounts
Undergraduate (dependent/independent), first year $3,500
Undergraduate (dependent/independent), second year $4,500
Undergraduate (dependent/independent), third year $5,500
Undergraduate (dependent/independent), fourth year $5,500
Cumulative Federal Direct subsidized Loan amounts (over 4 years)
Undergraduate (dependent/independent) $23,000


For the 2018-19 academic year, the interest rate will be a fixed rate of 5.05 percent. No interest* accrues while the student is enrolled at least half-time. Standard repayment period is 10 years. A net 1.066 percent processing fee is deducted from the loan proceeds when the funds are disbursed. For loans in which the first disbursement is on or after October 1, 2018, the origination fee will be 1.062 percent.

*As of July 1, 2013, a first-time Federal Subsidized Student Loan borrower is no longer eligible to receive Direct Subsidized Loans for more than 150 percent of the published length of their academic program (measured in academic years). For example, if you are enrolled in a 4-year bachelor’s degree program, the maximum period for which you can receive Direct Subsidized Loans is 6 years (150 percent of 4 years = 6 years). In addition, a borrower reaching the maximum time frame limit becomes ineligible for the interest subsidy benefits on all Federal Subsidized Loans disbursed to the borrower on or after July 1, 2013.

More information:

Repayment begins six months after the last date of half-time enrollment.

Interest subsidy during the six-month grace period is eliminated for new Federal Direct Loans made on or after July 1, 2012, and before July 1, 2014. The repayment period still begins six months after the student is no longer enrolled at least half-time, but interest that accrues during those six months will be payable by the student rather than be subsidized by the federal government.

Application Process

  1. File the Free Application for Federal Student Aid (FAFSA)
  2. Eligible students will be notified to accept the Federal Direct Loan on CheckMarq
  3. Federal regulations require first-time borrowers to complete entrance counseling and an electronic Master Promissory Note (eMPN) before disbursement of funds

Renewal process

Award is renewed only if all necessary forms are filed each year and students continue to meet eligibility requirements. Students may not be required to complete entrance counseling and eMPN if these requirements were previously completed.



The Office of Student Financial Aid provides undergraduate and graduate students with resources about types of financial aid and student employment.

FAFSA School Code: 003863

Questions or for more information, contact the Office of Student Financial Aid