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Financial Aid

Loan Terms and Conditions Chart

Loan Terms and Conditions Chart

2017-18 Loan Program Matrix

Loan ProgramStudentSubsidy (x)Interest Rate
(as of 7/01/17)
Grace PeriodAnnual LimitAggregate LimitOrigination Fee (as of Oct. 1, 2017)
Federal Direct Subsidized Loan Dependent or Independent Undergraduate x 4.45% 6 months 1st=$3,500
$23,000 1.066%
Federal Direct Unsubsidized Loan Dependent Undergraduate   4.45% 6 months 1st=$5,500 ($3,500 sub)
2nd=$6,500 ($4,500 sub)
3rd+=$7,500 ($5,500 sub)
($23,000 in sub)
Federal Direct Unsubsidized Loan Independent Undergraduate   4.45% 6 months 1st=$9,500 ($3,500 sub) 
2nd=$10,500 ($4,500 sub) 
3rd+=$12,500 ($5,500 sub)

($23,000 in sub)

Federal Direct Unsubsidized Loan Graduate*   6.00% 6 months $20,500 

($65,000 sub)

Federal Direct PLUS Loan Parent** or Graduate   7.00% 6 months Cost of attendance minus all other aid  N/A 4.264%

*Loans disbursed prior to October 1, 2017 have fees of 1.069% for the Subsidized and Unsubsidized loans and to 4.276% for the Direct PLUS.

**MD and DMD students may be eligible to receive additional Direct Unsubsidized loan. Eligibility is determined at the time financial aid is processed.

  • Increases Aggregate Limit to $224,000

***Undergraduates whose parents are denied the PLUS may be eligible to receive up to the following additional Direct Unsubsidized Loan amounts and should contact to determine eligibility: 

  • 1st = $4,000
  • 2nd = $4,000
  • 3rd+ = $5,000

Private Loan Preferred Lender List for undergraduate, graduate and parent loans.

Parent generally means any "credit-worthy" adult, as defined by the lender.