Federal Direct Unsubsidized Stafford Loan

Students who are first-time borrowers of the Federal Direct Stafford Loans, must complete an electronic Master Promissory Note (MPN) and on-line Entrance Loan Counseling to receive the funds. In most cases, the student will be required to complete the MPN and entrance counseling session only once during their years in college.

Lender	Federal Government
Interest Rate	Fixed at 6.8% for loans received after July 1, 2006
Interest Free in School	No
Loan Fee	2%
Interest Rebate	1.0% for loans received after June 30, 2009 1.5% for loans received prior to July 1, 2009
Annual Maximum - Dependent Student (Includes amount of Subsidized Stafford Loan)	$5,500 freshman (0-29 earned hours) $6,500 sophomore (30-59 earned hours) $7,500 junior and senior (60+ earned hours)
Annual Maximum - Self-Supporting Student (Includes amount of Subsidized Stafford Loan)	$9,500 freshman (0-29 earned hours) $10,500 sophomore (30-59 earned hours) $12,500 junior and senior (60+ earned hours) $20,500 graduate and professional
Cumulative Maximums	$31,000 dependent undergraduate* $57,500 self-supporting undergraduate* $138,500 graduate and professional**
Grace Period	6 Months
Standard Repayment Period	Up to 10 years (additional repayment options beyond 10 years may be available)
Minimum Payment	$50 per month

*No more than $23,000 of this amount may be in subsidized loans.

**No more than $65,500 of this amount may be in subsidized loans.

Additional information is available on the Federal Student Aid web site.