A Federal Direct Unsubsidized Loan is available to you through the William D. Ford Federal Direct Loan Program. It isn’t based on your financial need.

Borrowing & Interest Rates

The total amount that you can borrow in a Federal Direct Unsubsidized Loan cannot exceed your Estimated Cost of Attendance minus other aid received. In addition, the total Federal Direct Subsidized Loan and Federal Direct Unsubsidized Loan cannot exceed your annual maximum loan limit.

The interest rate on loans borrowed by undergraduate students between July 1, 2023 and June 30, 2024 is 5.50%, and the interest rate for graduate students is 7.05%. The interest rate on loans borrowed by undergraduate and graduate students between July 1, 2024 and June 30, 2025 will be announced by the Department of Education in June 2024. The loan origination fee for loans borrowed after October 1, 2020 and before September 30, 2024 will be 1.057%, and will be deducted from your loan at time of disbursement.

You’re charged interest on this loan from the time the loan is disbursed until it is paid in full. If the interest is allowed to accumulate, the interest will be added to the principal amount of the loan and increase the amount to be repaid.

How to Apply

To apply for a Federal Direct Unsubsidized Loan, you must complete the FAFSA. To be eligible, you must be enrolled for at least 6 hours per semester. If you’re eligible for a Federal Direct Unsubsidized Loan, it will be included on your Financial Aid Notification.

How to Accept, Modify, or Decline Your Loan Offer

You can accept, decline, or modify a Federal Direct Unsubsidized Loan on your electronic Financial Aid Notification by selecting the Accept/Decline Aid button at the bottom of your Financial Aid Notification. To accept or decline a loan, select “Accept” or “Decline” from the Take Action dropdown.

To accept a partial amount, select “Modify” in the dropdown menu and enter the amount in the “Modified Amount” field. Please note, modified amounts entered will be automatically split between fall and spring.

If you wish to request loan changes, you should select “Request Changes” on the Financial Aid Notification.

A Direct Loan Master Promissory Note and Entrance Counseling session is required for Federal Direct Loans before the loan funds will be disbursed. In most cases, you’ll only be required to complete one master promissory note and one entrance counseling session during your college career.