Graduate students may borrow up to a maximum of $20,500 per academic year in a Federal Direct Unsubsidized Stafford Loan. The Unsubsidized Stafford Loan accrues interest while the student is enrolled, and the student may choose to pay the interest monthly or have it capitalized until repayment. The Federal Direct Stafford Loan maximum for Psy.D. students is $33,000 per academic year. Students who apply for financial aid will automatically be considered for this loan.
NOTE: The maximum loan limit per academic year is $20,500 ($33,000 for Psy.D. students).
For Direct Unsubsidized Stafford Loans disbursed between July 1, 2014 and June 30, 2015, the interest rate is fixed at 6.21%.
For Direct Unsubsidized Stafford Loans disbursed between July 1, 2015 and June 30, 2016, the interest rate is fixed at 5.84%.
To view the interest rates on federal student loans first disbursed before July 1, 2014, click here.
For Direct Unsubsidized Stafford Loans disbursed on or after October 1, 2014 and before October 1, 2015, the origination fee is 1.073%.
For Direct Unsubsidized Stafford Loans disbursed on or after October 1, 2015 and before October 1, 2016, the origination fee is 1.068%.
Loans disbursed prior to October 1, 2014 have different origination fees. Please click here to view.
Direct Loan funds, minus the origination fee, are disbursed through the school at the beginning of each term. For detailed information regarding the Direct Unsubsidized Stafford Loan, click here.