Federal Direct Unsubsidized Loan
Federal Direct Unsubsidized Loans are available to graduate students. The funds for this loan are obtained from the U.S. Department of Education. The interest on this loan accrues from the time the loan is disbursed. The interest payment can be paid quarterly or the borrower may request to have the interest accrued and capitalized. This loan has a six-month grace period. The grace period is the period of time from when a borrower drops to less than half-time (five credit hours) to when repayment begins. Borrowers have up to ten years in which to repay these loans. Graduate students can possibly qualify for $20,500 per academic year in the Unsubsidized Direct Loan Program. Contact the Financial Aid Office for current interest rates.
Federal Direct Graduate PLUS Loan
Federal Graduate PLUS Loans are available to graduate students who qualify. These loans allow graduate students to borrow up to the cost of attendance minus financial aid from other sources. Repayment begins within 60 days and borrowers have ten years to repay the loan. These loans are obtained from the U.S. Department of Education and are not need based. Contact the Financial Aid Office for current interest rates.