*Only for summer enrollment otherwise entire loan is unsubsidized.
Please note: The Combined Total includes the subsidized eligibility portion; therefore, if an independent undergraduate second year student is eligible for $10,500 total, s/he would be eligible for $6,000 unsubsidized. If a dependent undergraduate second year student was eligible for $6,500 total, s/he would be eligible for $2,000 unsubsidized.
The US government pays the interest on the subsidized Federal Direct Loan while the student is enrolled in at least 6 credits per semester (5 credits for graduate students). The interest on the unsubsidized Federal Direct Loan will accrue if it is not paid quarterly. The standard repayment term for both types of Federal Direct Loans is ten years.
First-time Federal Direct Loan borrowers must complete a Master Promissory Note (MPN), as well as Loan Entrance Counseling for the loan to be guaranteed and disbursed. MPNs and Entrance Counseling may be completed online at www.studentloans.gov. Be sure to indicate the USciences School Code of 003353. If you would like to complete the MPN and/or Loan Entrance Counseling on paper, please contact the Financial Aid Office for the necessary forms.
Students whose parents are rejected for a Federal PLUS Loan may be eligible for additional funds under the unsubsidized Direct Loan program. Students who meet the federal requirements for independency may also be eligible for additional funds under the unsubsidized Federal Direct Loan program. (See chart above.)