Cameroon Finance

Jun 11 2017

Graduate Loans #calculate #car #loan


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Graduate Federal Direct Loan Information

Federal Direct Unsubsidized Loan

  • Undergraduate loan limits (when combined with Subsidized loan): Freshman – $5,500; Sophomore – 6,500; Junior and Senior – $7,500; Cumulative limit – $31,000 when combined with subsidized loan.
  • Independent undergraduate loan limits (in addition to regular undergraduate loan limits): Freshman and Sophomore – $4,000; Junior and Senior – $5,000; Cumulative limit – $57,500 when combined with subsidized loan.
  • Graduate loan limits (when combined with undergraduate subsidized and unsubsidized loans) are $20,500 per loan period. A loan period covers two terms and could be either summer/fall, fall/spring, or spring/summer.
  • Cumulative graduate loan limits are $138,500 (when combined with undergraduate loans).
  • The federal government will NOT pay the interest while you are a student. However, you do have the option of making interest-only payments while you are in school, or waiting until repayment begins on the principal six months after ceasing to be enrolled at least half time.
  • The interest rate for Graduate Unsubsidized loans disbursed on or after October 1, 2015, is fixed at 5.84%.
  • Repayment of principle and interest beginning six months after ceasing to be enrolled at least half-time.
  • FAFSA required annually
  • Must maintain satisfactory academic progress

Eligibility

Your financial aid award letter will state your eligibility for the Unsubsidized Direct Loan.

Processing Your Loan

  • First-time Borrowers
    • Request the amount you wish to borrow (or to decline loans) complete and submit online Request / Decline Federal Direct Loan .
    • Complete the online Entrance Loan Counseling . an interactive session offering important information about your student loan, required of all first time borrowers.
    • Complete online your Master Promissory Note .
  • Repeat Borrowers
    • Request the amount you wish to borrow (or to decline loans) complete and submit online Request / Decline Federal Direct Loan .

Federal Direct Grad PLUS Loan


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