The Federal Direct Loan program is a federal aid program that helps you pay some of your educational expenses. This program is available to students with and without financial need.
Federal SUBSIDIZED Direct Loan
This loan is awarded to students who demonstrate financial need. Occidental students may borrow based on their need, 在校时间, and satisfactory academic progress. When a student is enrolled at least half-time, no repayment of interest or principal 是必需的. For the 2023-2024 school year, this loan has an interest rate of 5.50%.
To complete online entrance counseling or to sign a master promissory note for this loan, 请访问 www.studentaid.政府.
Federal UNSUBSIDIZED Direct Loan
This loan is available to all students, regardless of their financial need. While the terms of this loan are similar to those noted above, interest accrual is immediate . Students may choose to pay interest while in school or have it capitalized onto the principal balance until they enter repayment. For the 2023-2024 school year, this loan has an interest rate of 5.50% for undergraduate students (graduate and professional rates are different).
To complete online entrance counseling or to sign a master promissory note for this loan, 请访问 www.studentaid.政府.
Additional Direct Loan Facts
Looking for more detailed information about the Federal Direct Loan Program? Here are some basic guidelines.
费用
The federal 政府ernment charges an origination fee when the loans are issued. 因此, a student borrowing $3,500 in the Subsidized Loan will receive less credited to their student account, disbursed in two installments, one in the fall and one in the spring. For loans disbursed between July 1, 2023–September 30, 2024 the origination fee is 1.057%.
补贴和. 未受资助的
The main difference between the Subsidized Direct Loan and the 未受资助的 Direct Loan is subsidy.
The federal 政府ernment pays for the interest on the Subsidized Direct Loan while a student is enrolled at least half-time. Interest on the 未受资助的 Direct Loan accrues from the time the money disburses to the student's account until the time the loan is repaid.
还款
还款 begins six months after graduation, at a minimum of $50 per month. Your actual repayment is determined by the total amount borrowed and interest accrued. In general, there is a maximum of 10 years to repay the loan.
Federal Direct Loan Limits
Annual and grade level limits in the Federal Direct Loan program (subsidized and unsubsidized) are as follows:
|
学年 |
MAXIMUM SUBSIDIZED |
MAXIMUM UNSUBSIDIZED |
MAXIMUM UNSUBSIDIZED (IF NOT ELIGIBLE FOR SUBSIDIZED) |
|---|---|---|---|
|
一年级 |
$3,500 |
$2,000 |
$5,500 |
|
二年级 |
$4,500 |
$2,000 |
$6,500 |
|
三年级 |
$5,500 |
$2,000 |
$7,500 |
|
四年级的 |
$5,500 |
$2,000 |
$7,500 |
|
第五年 |
$5,500 |
$2,000 |
$7,500 |
|
GRADUATE STUDENT |
$8,500 |
$2,000 |
$10,500 |
Maximum aggregate borrowing in the Federal Direct Loan program (subsidized and unsubsidized):
| 状态 | 量 |
|---|---|
| Dependent Undergraduates | $31,000 |
| Dependent Undergraduates whose 父母 ineligible for PLUS | $57,500 |
| Independent Undergraduates | $57,500 |
| Graduate Students | $138,500 |
These loan limits apply to the Direct Loan programs only. A student may borrow more than these amounts in any one year (if eligible) and may accumulate more than the aggregates shown by borrowing in different loan programs.
National Student Loan Data System (NSLDS)
All federal student loan information is sent to the National Student Loan Data System (NSLDS). NSLDS is a national database for loans (and grants) awarded to students under Title IV of the Higher Education Act (HEA) of 1965, 修订的. NSLDS provides a convenient, central location for borrowers to track federal student loans from approval to repayment. NSLDS can only be accessed by authorized personnel at Occidental College as well as other authorized agencies. To view your federal student loan information from NSLDS, login at studentaid.政府.
Understand how interest is calculated and what fees are associated with your federal student loan.
For more information on federal interest rates and fees, visit Federal Student 援助.