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Direct Unsubsidized Loan

The Direct Unsubsidized Loan is a federally guaranteed loan program. That means that a student will be eligible to borrow these funds provided they meet the following criteria:

·         The student must be enrolled in a qualifying educational program

·         The student must not be in default on a prior federal student loan

·         The student must be a U.S. citizenship or permanent resident

·         The student must not be at the aggregate borrowing limit established by the Department of Education

If a student meets these criteria, he/she will be eligible to access Direct Unsubsidized Loan funds to use toward their educational expenses. Although interest will accrue​ on the loan while the student is enrolled, there are no payments required until the student graduates or otherwise changes their enrollment status due to a leave of absence or withdrawal. Interest rates​ are subject to change each year and adjusted rates typically take effect on July 1st of the new financial aid year. Rates are set by the federal government and are the same for all students across the country.