Federal Direct Unsubsidized Loans for Graduate Students | Financial Aid
Direct Unsubsidized Loan
- Student must be enrolled at least half time (3 credits)
- Student must be meeting Satisfactory Academic Progress (SAP) Standards
- Student cannot be in default on a Federal Student Loan or owe an overpayment on a Federal Student loan or grant
- Interest starts accruing at the time of disbursement
- No repayment required while student is enrolled at least half time
- One six-month grace period after the student is no longer enrolled half time before repayment begins
- Standard repayment is 10 years
Annual maximum
$20,500
Cumulative maximum total debt
$138,500 (includes amounts borrowed as undergrad students)
Interest rates
8.08%
For Graduate Direct Unsubsidized loans disbursed between July 1, 2024 and June 30, 2025
7.05%
For Graduate Direct Unsubsidized loans disbursed between July 1, 2023 and June 30, 2024
Fees
Fees are deducted from the Direct Unsubsidized loan proceeds when they are disbursed.
1.057%
For loans first disbursed after Oct. 1, 2020 and before Oct. 1, 2025 (For example, on a $5500 loan, $58 will be kept as a loan fee and therefore $5,442 will be credited to the students account when it is disbursed to the school.)
Applying for Direct Unsubsidized Loans
- Complete the Free Application for Federal Student Aid (FAFSA) at studentaid.gov/fafsa
- Receive your final financial aid award from Carroll
- Submit your award - Accept/Reject/Modify your Federal Loans
- First time borrowers at Carroll need to complete a Direct Master Promissory Note at studentaid.gov
- Under the Complete Aid Process dropdown, select "Subsidized/Unsubsidized Loan MPN"
- Login clicking the blue "Log In" button
- Once logged in, click the blue "Start" button to complete your Master Promissory Note
- First time borrowers at Carroll need to complete Entrance Counseling at studentaid.gov
- The Federal Government requires that all first time Federal Direct Loan borrowers complete an entrance counseling session before they receive any loan funds. This session is designed to provide the borrower with important information about the Federal Direct Stafford Loan program, including your rights and responsibilities as a borrower.
- Under the Complete Aid Process dropdown, select "Complete Entrance Counseling"
- Login clicking the blue "Log In" button
- Once logged in, click the blue "Start" button and complete your graduate Entrance Counseling
Exit counseling
- Federal regulations require students to complete this once you graduate from Carroll or your enrollment drops below half time status
- Provides the borrower with important information regarding your rights and responsibilities as a borrower.
- Assists you on how to manage repaying your student loans and what you can expect
- Complete online at studentaid.gov under the Manage Loans.
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